Medical device manufacturer Tegra Medical has paid $16.4 million for a 120,000-square-foot new building across the street from its Franklin headquarters, the company announced in a Wednesday press release. At the same time, the company is expanding its Mississippi space by 4,000 square feet.
The expansion will increase the company’s overall square footage by more than 53%, according to a press release.
“This is our biggest expansion yet,” said Hal Blenkhorn, Tegra’s Franklin general manager, in a statement. “As large as the space is already, the property can accommodate expansion to more than triple the building footprint in the future, positioning Tegra Medical for a continued growth path.”
The new Franklin space, located at 16 Forge Parkway, will require little renovation and will provide Tegra’s quick wire and tubing business with its own dedicated space. Tegra will be the building’s first occupant, with a planned move-in date for later this year.
The sale closed June 19. The nearly 10-acre site was last assessed by the Town of Franklin at nearly $7.9 million.
In Mississippi, Tegra is expanding its facility to house a new manufacturing cell.
“By growing organically, we are expanding smoothly without disrupting existing operations,” said Mike Treleaven, Tegra Medical Vice President, in a statement.
