Mankato's Winland Electronics said Wednesday that it is selling its headquarters and manufacturing building to Nortech Systems of Wayzata. Terms were not disclosed.
The complex spans roughly 58,000 square feet, and the sale should be completed by the end of the year. According to a securities filing, about 32,500 square feet of the space is devoted to manufacturing, with an additional 10,000 square feet of warehouse space and 15,500 square feet of offices. The company said the facility has a net book value of about $2.1 million. Nortech already leases space in the building, after it purchased Winland's electronics manufacturing business in 2010.
Winland makes critical condition monitoring devices for many industries, including health/medical, grocery/food service and agriculture and residential.
Janet Moore covers commercial real estate for the Star Tribune.