By SCOTT DUNN, SUN TIMES STAFF
Posted 2 hours ago
Part of the PPG factory is listed for sale again, weeks after it was purchased for a fraction of its $6.1-million asking price.
The deal to purchase the giant factory site, which has sat vacant since 2008, closed Dec. 29 for $1.675 million, according to land registry documents viewed in late January.
Late last week, about 214,000 square feet of space in the 1978 addition to the factory on 40 acres, was listed for sale at $3.5 million, subject to the city granting a severance.
The roughly 600,000-square-foot former factory and its 73- acre property was sold to 1857060 Ontario Ltd.
The numbered company shares an address with Budget Demolition, a family-owned and operated environmental disposal company which specializes in residential, commercial and industrial demolition as well as metals recycling and asset recovery.
Will Bartels, the company’s project manager, said in late January “it’s a little early to tell” what will be done with the prop-e rty but at least some of the building will be ripped down and sold as salvage.
Reached by e-mail Sunday, he confirmed the company which bought the entire property still owns it. Bartels added: “like (I) said last time (it’s) a little early to tell what we are doing(,) the options are endless.”
Listing agent Matt Hutten, of Royal LePage RCR Realty in Owen Sound, could not be reached over the weekend. But Royal LePage broker Ellen Crymble said the plan has always been to seek a severance and re-list.
“That was their intent, was to go proceed with a severance and sever that building and then take, recycle what they can out of the building, and then offer it for sale.
“Like they never intended to actually utilize it. They wanted to repackage it,” Crymble said Sunday.
The original plant, built in 1967, is 398,138 square feet. A 214,316-square-foot addition was added in 1978.
The land transfer records for the site, which is at 1799 20th St. E., shows Triple M Metal Corp., a Brampton-based metal recycling company, holds a mortgage on the property. sdunn@thesuntimes.ca
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