BIRMINGHAM, Alabama — Auto stamper Kamtek has purchased a 293,000-square-foot facility on Sterilite Drive in Pinson Valley that was previously slated to become a manufacturing plant for Isuzu trucks.
Commercial real estate firm Graham & Co. announced the deal today. Officials with Kamtek, a division of international auto supplier Magna International, declined to comment on their plans for the building.
Graham & Co. originally developed the facility, which sits on 36 acres, for Del Monte in 1993 as its Southeast distribution center. Then the firm represented Del Monte in Isuzu’s purchase of it in 2006.
Isuzu, which had planned to assemble light duty work trucks there, scrapped the project after the economy soured. In 2011, it was put on the market.
Sonny Culp of Graham & Co. represented Isuzu in the deal, and Jack Brown, also of Graham & Co., represented Kamtek.
“The sale of this significant industrial facility underscores a couple of things,” Culp said. “First, there are segments of our economy ready to expand and invest in opportunities of growth. Second, a healthier real estate market will result when there is turn of inventory. At Graham & Company, we are seeing a balance return to our market as it relates to both values and inventory levels. The sale of this particular asset hammers that home.”
Kamtek, which supplies auto companies in Alabama and beyond, has been in a growth mode lately. In 2009, the company announced that it had landed a contract to supply parts to Volkswagen’s new auto assembly plant in Tennessee.
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