278,000 SF NASH ROAD INDUSTRIAL PROPERTY SOLD
Tom Kelsey, commercial broker with
Lorimont Place, Ltd. has announced the recent sale of one of
the larger buildings in the Cape Girardeau area.
The Lorimont broker said the
278,000 square foot facility located at 4680-4780
Nash Road, west of I-55 and located near the Cape Girardeau
airport has been sold to Moriah Logistics, LLC.
The company is owned by the Kermit Meystedt family
who also operate Genesis Transportation, Inc., a Cape
Girardeau based trucking company.
The building, a combination of
manufacturing and warehouse areas is nearly 6.5 acres under roof
and included 12.2 acres of land. It is occupied by two corporate
Silgan Plastics who leases approximately 124,200 square feet
of space and
Proctor & Gamble, who recently leased 154,167 square feet in
the warehouse portion.
Silgan, a plastic container company based in
Chesterfield, Missouri primarily manufactures containers for the
Golden Cat division of Nestle Purina at Bloomfield.
Proctor & Gamble’s paper products division utilizes the
balance of the building for product storage.
Moriah will become the new landlord for
Silgan and in the process of purchasing the property negotiated
the lease arrangement with Proctor & Gamble for transportation
and storage. Their
Genesis Transportation division will provide for the product
transfer between P & G’s plant north of Jackson to the Nash Road
Kelsey said the building, originally built
in 1965 has previously been used by Superior Electric as a small
appliance manufacturing plant and for many years was leased by
Nestle Purina as a distribution warehouse.
The property has been owned by Chris Penzel and the
Penzel family for several years. Kelsey did not disclose a sales
price, but the Lorimont website listed a $2.9 million dollar