CoStar May 31, 2019 | MAKARY ZAKI
New York Firm Plans to Renovate SPX Facility in Tulsa, Pitch to New Manufacturing Tenants
Reich Brothers Buys 228,000-SF Industrial Facility for $5 Million
National Industrial real estate firm Reich Brothers purchased a heavy manufacturing facility in Tulsa, Oklahoma, that it plans to renovate for new manufacturing tenants.
The White Plains, New York-based firm acquired the property from SPX Corp., which hosted its main manufacturing and warehousing location at the 228,000-square-foot complex. The SPX plant is currently separated into a 160,000-square-foot warehouse, a 40,000-square-foot fabrication building, and a 28,000-square-foot stand-alone office building.
Reich Brothers is planning to renovate the facility to attract new manufacturing tenants, the company said in its statement announcing the sale…