Harbert Realty’s Norman Tynes and West Harris represented Lakeland Industries, Inc. (“Lakeland Fire + Safety” or “Lakeland”) (NASDAQ: LAKE) – a leading global manufacturer of protective clothing and apparel for industry, healthcare and first responders – in the sale of sale of its Decatur, Alabama warehouse property. The property, which sold for $6.1 million, consist of three buildings totaling ±145,478 square feet on an ±8.26-acre site.
The sale is part of the company’s financial and operational initiatives to streamline global operations and improve profitability. Lakeland has commenced a search for a new upgraded warehouse, logistics and lab facility in a more strategic location to replace the Decatur facility. The sale of the Decatur facility includes a short-term leaseback on one of the three property warehouses while the Company continues to explore alternative sites.
