Update: Forest River Buy Includes 13 Buildings
Elkhart, Ind.-based real estate firm FM Stone Commercial, which represented Forest River Inc. in its acquisition of Spartan Motors Inc.’s Utilimaster Corp. facility in Wakarusa, Ind., reports that 13 of the 14 industrial buildings on State Road 19 were sold in the transaction.
According to a press release, the buildings purchased by Forest River encompass 510,350 square feet in the complex currently being vacated by Utilimaster. Spartan is relocating its Utilimaster operations to Bristol, located 20 miles northeast of Wakarusa.
The buildings were on the market for just over nine months. Buildings range in size from 10,590 square feet to 90,270 square feet and were part of one of Wakarusa’s largest manufacturing facilities.
The remaining building on the Wakarusa campus is still available for sale through FM Stone Commercial. The three-story, 30,150-square-foot office building on 4.18 acres features an elevator, a climate-controlled computer room, covered loading dock, six rest rooms, heavy power, and geo-thermal heating and air conditioning.
The move to Bristol will consolidate Utilimaster’s operations into one 425,000-square-foot facility from its current campus of multiple buildings. Spartan Motors, parent to Spartan Chassis Inc., said the new facility will streamline operations and is expected to save up to $4 million annually.