The shell building, built as a public private project on Pioneer Drive almost 2 years ago has been waiting for a lease or sale since May 2015. Well, Thursday night during a special meeting of the Redevelopment Commission, Jerry Chavez, Executive Director of the Marshall County Economic Development Corporation told members a deal has been negotiated and they anticipate closing on the building mid September.
The shell building, now know as the Commerce Building was built as a joint project between the Plymouth Redevelopment Commission, the Plymouth Industrial Development Corporation (PIDCO) and the Marshall County Economic Development Corporation by Garmon.
Although Chavez was very tight-lipped on the name of the company purchasing the building he did say it’s an Indiana company and one of the
targeted industry they’ve been searching for. This new company will employ 50 to 150 people.
Although the company negotiated a $2.2 million purchase offer, it’s not exactly what the city was hoping for. In fact, the Redevelopment commission will take a loss of $473,000 and PIDCO had to reduce their share for the land from $210,350 to $100,000.
Redevelopment Commission member Melissa Christensen said, “While I’m happy we are getting a good company, we put so much into it, I’m disappointed we are taking a loss.”
