Realtor Buys OFS Land in Georgia

Preferred Real Estate Investments, a national real estate developer based in suburban Philadelphia, has agreed to purchase approximately 75 acres of the 170-acre property currently owned by OFS adjacent to Interstate 85 in Norcross, Ga. OFS, the former optical fiber division of Lucent Technologies, makes optical fiber, optical fiber cable and related products for telecommunications and other applications. OFS, which is owned by Furukawa Electric Co. Ltd., will continue to maintain its headquarters and its largest fiber production facility at the location. It said the land sale won't affect its production or services. The closing is expected in about six months, and Preferred intends to subdivide the 75 acres, OFS said.