The north end property recognized by many as the current home of Skyjack and former home of ABB has changed hands.
Skyjack rents the property and it’s lease remains in effect until the end of 2025 with the option to renew for 10 more years.
After being on the market for about two years, a deal to sell the 38.6-acre property with a 384,000-square-foot building for $18 million closed on June 24, according to land registry documents.
It was previously owned by ABB Inc. which previously operated a facility there, and now belongs to Brockville-based 100 Strowger Holdings Inc.
Representatives for the new owner couldn’t be reached for comment.
“We had a lot of interest in the property. Probably, I’m going to say at least 20 buyers, potential buyers,” said Ray Robinson, executive vice-president for real estate firm Avison Young. “Some of them were active all along, but we just couldn’t get them across the finish line.
“It’s a very complicated site.”
Among those complications is historic contamination.
The property is zoned for a wide variety of uses, as noted in the listing. Among them are manufacturing, warehousing, commercial entertainment/recreation centre, catering service, trucking operation, animal boarding, restaurants and more.
“The reason for (ABB Inc.) selling it is that it’s a non-producing asset,” Robinson said of the property. “In other words, they’re not using it. And they’re not in the landlord business, so they want to get rid of it.”
