Aluma Systems has reached a deal to move its Beltsville plant to the Holabird Industrial Park, a deal that will bring about 50 jobs to the Baltimore business park.
The company, which makes industrial scaffolding and concrete construction services, has leased about 26,000 square feet at 2100 Van Deman St. -- the former Red Star Yeast Co. plant -- with Baltimore-based Corridor Reznick, Corridor Senior Investment Advisor Howard Sobkov said.
Representatives from Aluma could not be reached for comment.
Red Star and Lasaffre Yeast Corp. previously operated plants at the 15-acre site, which Corridor bought for $2 million in December 2006.
The Baltimore brokerage and development firm spent about $950,000 to clean up the site and demolish most of the property's 120,000 square feet of obsolete industrial buildings, leaving a 78,000-square-foot warehouse and a 6,300-square-foot maintenance building, Sobkov said.
Cinder Express Inc. signed a lease in December 2006 for about 42,000 square feet in the warehouse building.
As part of the deal with Aluma, Corridor plans to spend about $5.5 million to demolish part of that warehouse building and add an additional 12,800 square feet. Aluma has also agreed to lease the maintenance building, which is being converted into office space, and another six acres of land at the property for outdoor storage, Sobkov said.
Corridor plans to hold a groundbreaking ceremony June 16 to kick off that work.
