Clearwater's CoreRx buys former Silicone Technology plant

BUYER: TRW Properties LLC (principals: Willem Robberts and Ramachandran Thirucote), Menlo Park, Calif.
SELLER: Debbie Beaty as trustee
PROPERTY: 5777 Myerlake Circle, Clearwater
PRICE: $2.5 million
PREVIOUS PRICE: $1.63 million, April 2003
TITLE FIRM ON DEED: Fidelity National Title of Florida Inc., Clearwater

PLANS, DESCRIPTION: Contract pharmaceutical research and development company CoreRx Inc. purchased the 46,000-square-foot former Silicone Technologies manufacturing plant for $2.5 million.

The price equated to $54 per square foot. That figure is higher than the two-year average price per square foot for industrial space ($46) in the Tampa Bay area, according to the CoStar Group.

CoreRx plans to use the new building to expand its current operations and add another 25 employees.

Scott Clendening of Commercial Partners Realty represented the seller. Modern Silicone Technologies is consolidating its Clearwater, West Virginia and Chicago facilities into a new injection molding and design plant in a 123,000-square-foot tilt-wall manufacturing facility at 10601 U.S. 19 N., Pinellas Park.
CoreRx did not replied to a request for comment prior to deadline.