A 75,000 square-foot manufacturing building that sat vacant for several years will soon become the new home of RheTech Colors.
The Waldock building, 2901 W. Monroe St., sold for $1.4 million to Grafton investor Kevin Flanigan and will be leased to RheTech, a Sandusky supplier of polypropylene compounds and color concentrates now located on Superior Street.
Mike Petrigan, senior vice president for Grubb & Ellis, which marketed the building for more than two years, said the sale is good news for the manufacturing industry in Sandusky.
"This is a great example of a company that's doing very well right now, is expanding and deciding to stay local," he said.
RheTech Colors general manager Craig Dunaway said the building, formerly home to Tuscarora Inc., was a perfect fit for an expanding business.
RheTech now leases two warehouse buildings and has grown considerably since opening under its new name in 1998.
"We've had some sales growth in the past six to eight months and have gone from a two-shift operation to a three-shift operation," Dunaway said. "We also added 8 to 10 new employees and now have about 36 people."
Dunaway said he could not comment on sales figures because the company is privately owned.
The Waldock Building is just shy of a mile from RheTech's current location -- ideal for consolidating the business, he said.
"It's a little larger than we were looking for, but we'll continue to grow and fill it up sooner or later," he said. "We need to do some remodeling on the inside of the building, and it'll take about six to eight months to get everything moved over from our facility to the new one."