Custom injection molder Component Plastics Inc. of Elgin, Ill., plans to more than double its space this year by relocating to a new site nearby.
CPI on Feb. 8 paid $19.4 million for a 144,000-square-foot shell building about 5 miles from its current location. The facility, completed in December, is part of a two-building, 465,360-square-foot campus, according to the seller, Atlanta-based real estate company Seefried Industrial Properties Inc.
CPI said it expects to move by the end of the year, but would not comment further until the move is complete.