Century Fasteners Corp. has sold its Tampa industrial property and is leasing it back, the Business Observer reports.

Redfearn Capital paid $4.8 million for the 24,777 sq ft facility at 5040 Tampa West Blvd. In return, Century signed a seven-year lease for the building.

Century Fasteners bought the building in 1998 for $412,500, according to property records.

Founded in 1955, Elmhurst, NY-based Century Fasteners is a master distributor of fastener and non-fastener components to the military, aerospace, electronics, automotive, sheet metal fabrication, contract manufacturing, telecommunications and medical industries.