Cook Medical Acquires 850 KSF Facility in NC
- Jan 04, 2019
Cook Medical, a designer, developer and manufacturer of medical devices used to perform minimally invasive medical procedures, has acquired an 850,000-square-foot building in Whitaker Park, a redeveloped Winston-Salem business park. The company completed the agreement with Whitaker Park Development Authority Inc. for the purchase and will begin converting a portion of the former R.J. Reynolds building into a manufacturing facility this year.
Built in 1961, the industrial property was formerly used to house a cigarette plant until Reynolds announced in May 2010 its intention to shift production to its two million-square-foot plant in Tobaccoville, N.C., according to the Winston-Salem Journal.
Cook Medical’s current workforce of more than 650 employees in Winston-Salem will be relocated to the new facility. Renovations are slated to be completed by the end of 2019, with production scheduled to begin in late 2021. The company anticipates adding 50 new jobs over the next decade.
“We see Whitaker Park as an impact project in that we are converting a facility that manufactured cigarettes into a modern facility producing life-saving medical devices. We’ve been in Winston-Salem since 1983, and acquiring the Whitaker Park facility signifies a renewed commitment to this community,” said Barry Slowey, president of Cook Medical’s Winston-Salem location, in a prepared statement.
The need for industrial space in the Triad is healthy, according to a third quarter CBRE report. In June, Somerset Properties and Thackery Partners sold Airport Distribution Center, a five-building portfolio in Greensboro, N.C., for $32.2 million.
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