Weir Valves buys Ipswich building
Weir Valves & Controls USA bought an Ipswich manufacturing building for $6.74 million after it considered building a new manufacturing plant in North Carolina, a broker involved in the transaction said.
The broker is Klemmer Associates LLC, a Winchester-based commercial real estate firm.
Weir, a subsidiary of Glasgow-based Weir Group PLC, plans to move out of its existing facilities in Salem to larger, more modern space in Ipswich around January, Greg Klemmer of Klemmer Associates said.
The seller of a manufacturing building with 106,897 square feet of space is Kortec Inc., a supplier of co-injection systems; Kortec plans to remain in a portion of the building as a tenant, Klemmer Associates said.
(By Chris Reidy, Globe staff)
