Wednesday, June 9, 2010

Sperry Van Ness/Martin Commercial Group Moves Difficult Industrial Asset

Chris Stuard at Sperry Van Ness/Martin Commercial Group has sold the former ISM building located at I-164 and I-64 just north of Evansville, Indiana.



The 80,000 SF facility was acquired by the New York based compnay Pramco back in 2005 and has been on the market for over 5 years. Sperry Van Ness was retained approximately 1 year ago and sold the property within $10,000 of the projected price. The buyer is a manufacturer from Dubois County, which is approximately 50 miles east of Evansville. They will be relocating their operation allowing them to expand.