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| Lewis County IDA Officially Takes Ownership of Former Climax Facility 10/19/18 09:00am By: Nick Altmire |
ownership of the former Climax Manufacturing facility in Lowville on Tuesday, after closing on the $800,000 purchase of the property, according to IDA Executive Director Eric Virkler. The building structure and mechanicals are in very good condition, according to the IDA, with 160,000 square feet of manufacturing and office space available. The facility, located just outside the Village of Lowville on State Route 26, was abruptly closed by Climax Packaging on April 1, 2016, displacing nearly 160 workers. The IDA can now move forward plans to rebrand and market the available space. Mr. Virkler said that the facility is most likely to become a multi-tenant property, offering both office and manufacturing and/or warehousing space. As part of the sale, Carthage Speciality Paperboard will be leasing 80,000 square feet at the location for warehousing, through a two-year reduced rent lease. This ensures an immediate revenue stream for the IDA to cover operating and maintenance costs at the facility. The NRG Group, Inc., formerly in New Bremen, is now leasing space at the facility as well. |
