L’Oréal North American R&D facility sold for $2.5m

L’Oréal North American R&D facility sold for $2.5m

Denholtz Associates has sold the Clark Commercial Center, which houses L’Oréal’s North American R&D division, to ANG Management for $15.84 million.

The 108,000-square-foot building is the only L’Oréal R&D centre in the US, and one of six in the world. It has been leased to L’Oréal since 1992.

The sale was negotiated by Newmark Knight Frank, with Steve Cassidy, president of Denholtz Associates, stating, “We thank Newmark Knight Frank’s Capital Markets team for their assistance in securing a premium price for this highly valuable asset in one of nation’s most competitive industrial markets.”

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