The word is out and interest is up.
ST. ALBANS — After being closed for six months, the Energizer building has become more lively again: it is buzzing with potential buyers.
Yves Bradley, the real estate agent for the Swanton Road property, said by phone on Wednesday that things are going well in the sales process. Bradley, who represents Pomerleau Real Estate out of Burlington, said he showed clients both looking to buy and to lease the former factory building this past week.
“[More showings] are slated for next week,” he said. “The word is out and interest is up.”
While auctioned-off equipment and constructed sections are currently being removed from the building to open up the space, Bradley has opened up the building to interested parties. These have included investors, developers looking to repurpose the building for another use, and others looking to bring manufacturing into the factory walls once again. Bradley said it was hard to say when the sale would close, but added, “It’s definitely going to sell.”
The current asking price for the 200,000-square-foot building and 65-acre property is $6.9 million. If the building is rented, monthly costs would include a $900,000 rental fee as well as $350,000 to $450,000 in “triple net” costs: taxes, insurance, combined area maintenance such as snow plowing, landscaping and other general upkeep.
Regardless of how the building will be paid for, Bradley said that potential clients would be on the other end of a great deal. The costs for constructing a similar building are about $15 million to $20 million, and they wouldn’t include the 65 acres of property. “You do the math,” Bradley said. “It’s a pretty amazing opportunity.”
The factory was opened for manufacturing flashlights in 1947 by Union Carbide and eventually came under the ownership of the Energizer Holdings, Inc. battery company in the 1990s. When the company’s global reconstruction plan caused the factory to announce in November 2012 that it would be closing and would take away 165 jobs, area residents were unsure what would happen. Many of the employees found new positions locally.
Bradley isn’t sure exactly what will take place either, but he’s upbeat about the possibilities. “The reality is that the building is in a great location. It has tremendous interstate access, and it’s in a community that is really going places,” he said. “We’re excited about it.”