Wright Medical Group Inc. has purchased a 56,340-square-foot building in Arlington for $1.5 million.
The company will use the property, which sits on 1.5 acres at 11481 Gulf Stream Road, for distribution.
It purchased the building, constructed in 1973, from Covington Furniture Manufacturing Co.
Bruce Young, president of Memphis Commercial and Industrial, brokered the deal.
Arlington, Tenn.-based Wright Medical Group (NASDAQ: WMGI) is a global orthopedic medical device company which designs, manufactures and markets reconstructive joint devices and biologics.
The company reported flat income but higher sales in its third quarter earnings report released Thursday.