The sale of property occupied by the longtime Pawcatuck manufacturing company Davis-Standard was filed Wednesday in the Stonington Town Clerk's office, with the transaction closing for more than $12.1 million.

Last month, the plastic-extrusion company acknowledged plans to sell its property to Dallas-based Spirit Realty, a real estate investment trust, with plans to lease back the facilities for up to 40 years.

In the transaction filed Wednesday, Davis-Standard LLC sold its Extrusion Drive property to Spirit Master Funding X LLC for $12,130,437. Spirit then leased it back to Davis Standard.

The sale and lease-back agreement is a common business tactic these days, and company officials promised no changes in ownership or staffing as a result of the move.

— Joe Wojtas and Lee Howard