Fabric Maker Buys 51,613-SF Industrial Asset

ELOY, AZ-A rapidly growing sail fabric manufacturer has purchased a 51,613-sf manufacturing building on 7.9 acres for $805,000.

Cuben Fiber Corp. will relocate the headquarters and manufacturing operations from 4511 E. Ivy St. in Mesa to 1335 W. Battaglia Rd., previously owned and occupied by Penda/Glasstite, a manufacturer of fiberglass truck-bed covers. “The building fit the size requirements and offered abundant power and excess land for storage or expansion,” says Steve Poole, a senior associate with Grubb & Ellis/BRE Commercial LLC, who teamed with Tony Lydon to represent Penda/Glasstite in the transaction.

Poole tells GlobeSt.com that Penda/Glasstite closed its Arizona operations in 2002. The facility, built in the mid-1980s, had been on the market more than a year before Cuben Fiber’s owner, RJ Downs, made the decision to purchase it. The buyer’s brokerage team was Phil Skillings and Gary Emerson with Bourn Partners in Tucson.