Patrick Lindley, president and principal at Cassidy Turley, has been awarded the listing assignment of a 781,500-square-foot manufacturing facility in Tipton, Ind. The property will be marketed for sale or lease.
“With an original construction investment of over $100 million and an asking price of just $39.5 million, this never-occupied manufacturing facility represents a tremendous buying opportunity that should generate national interest,” said Lindley.
The facility sits on 106 acres and was purchased in December of 2010 by W.W. Reynolds Inc. of Boulder, Colo., for occupancy by Abound Solar. Abound Solar recently announced it would cease operations and file for bankruptcy, leading W.W. Reynolds to begin actively seeking a new owner or occupant for the property.
“Needless to say, Abound Solar’s situation is truly unfortunate and we are disappointed they will not occupy our Tipton facility,” said Jeff Wingert, partner and director of development for The W.W. Reynolds Companies. “Going forward, it is our intent to find a new user for the property as soon as possible.”