Sealed Air Corp., 8310 Sixteenth St., sold its 280,000 square foot office building back to SC Johnson Co. for $27.6 million.

The agreement allows for SC Johnson to lease the building to Sealed Air through 2015, according to a story in the Journal Times.

Sealed Air, which manufactures packaging and containers, has two locations in eastern Racine County; the 16th Street location in Mount Pleasant and another location in the Renaissance Business Park in Sturtevant.

Sealed Air acquired Diversey Inc. in 2011 and had once been a division of SC Johnson until it was spun off.

Currently headquartered in New Jersey but with offices in several other states, Sealed Air announced in July that it would be moving to North Carolina and taking some 350 jobs from Sturtevant over the next three years.

Sealed Air is set to receive $41 million from North Carolina if they meet promised job creation and investment goals. Another $5 million is also on the table from a mix of state and local incentives.

 

$40,006,294.00

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Denise Lockwood has an extensive background in traditional and non-traditional media. She has written for Patch.com, the Milwaukee Business Journal, Milwaukee Magazine and the Kenosha News.

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