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Glunt Industries sells four county properties

Store Master Funding acquires all for $10.4M

WARREN — Glunt Industries Inc. has sold four properties, including what is considered the company’s North River Road NW headquarters, for $10.4 million, according to property transfers filed with the Trumbull County Auditor’s office.

The company sold 1819 N. Main St., Weathersfield; 30 and 319 North River Road, Warren Township; and 210 Dana St. NE, Warren, to Scottsdale, Ariz.-based Store Master Funding XVII, LLC.

Properties at 30 and 319 North River Road sold for $840,000 and $4.3 million on Aug. 6 and Aug. 11, records show. The sale of 319 North River Road also appears to include 6.27 acres of vacant industrially zoned land nearby.

The land and building on five acres at 30 North River Road is valued at $250,900. Glunt purchased it for $265,000 from Reewood Inc. in April 2013. The land and building on 4.2 acres at 319 North River is valued at $1.2 million; it already had been owned by the company, records show.

The property at 210 Dana St. NE, which Glunt acquired for $352,500 from Schubert Properties Inc. in August 1996, sold for $2.9 million Aug. 17. The land and building on nearly three acres is valued at $183,700.

At 1819 N. Main St., the sale was $2.4 million Aug. 10. Glunt sold the property in March 2002 to Canton-based The Timken Company for $1.8 million and reacquired it in May 2015 for $700,000, records show. The land and building on 3.8 acres is valued at $697,000.

A message seeking comment was left Tuesday with Glunt CEO Gary Shells.

Glunt Industries, which has been in operation since 1971, specializes in heavy industrial machine engineering and manufacturing that constructs, reconditions, repairs and upgrades all types of steel and aluminum rolling mill equipment, as well as seamless and welded pipe production equipment.

Store Master Funding XVII is affiliated with STORE, a real estate investment trust firm that formed in 2011 to invest in single tenant operational real estate, including restaurants, home improvement stores, educational and daycare facilities, and service and distribution facilities, according to Standard & Poor’s.

Other Store affiliates also own the Perkins Restaurant on state Route 46 in Howland; the KFC on Elm Road in Warren; a manufacturing facility at 3600 Union St. in Weathersfield; Specialty Pipe and Tube Inc.; and 231 Main Ave., a strip plaza that used to contain Mickey’s Army-Navy store and a branch of Eastern Gateway Community College.

business@tribtoday.com

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