A life sciences company’s expansion into Efland is bringing new investment to Orange County and marking one of the area’s most significant recent commercial real estate transactions. NewLife Medicals has purchased a flex warehouse at 3641 Forrest Ave. as part of its continued growth. Pickett Sprouse Commercial Real Estate brokers Emilee Collins, CCIM; Mark O’Neal, CCIM; and Matthew Morton represented property owner and local developer Britt Irwin in the transaction.
The 28,079-square-foot facility, situated on 2.32 acres, sold on April 1 for $4.77 million and will support NewLife Medicals’ continued expansion. A global pharmaceutical supplier and clinical trial material provider, the company facilitates drug trials through the packaging and labeling of pharmaceutical products. It operates out of a 2,000-square-foot facility in Garner and acquired the Efland property to significantly expand its capacity. The new space will be upfitted to meet Good Manufacturing Practice (GMP) standards, positioning the company for future growth.
The property sits at a highly visible and increasingly active industrial corner in Efland that is quickly becoming a hub of economic activity. In addition to NewLife Medicals’ investment, a separate building on the site is leased to Team Fishel, adding to the area’s growing concentration of industrial users and contributing to the local tax base and payroll…