Anglo–Dutch consumer goods company Unilever has sold its former ice cream plant in Hagerstown, Maryland to a joint venture of New Mill Capital (NMC) and M Davis Group (MDG).
The 142,000ft2 plant, which ceased production in the Fall of 2012, was sold in its entirety, including equipment.
The NMC/MDG joint venture plans to remarket the facility to other ice cream manufacturers and alternative food users who can utilize the plant's central East Coast location and infrastructure to expand or augment their existing operations.
The joint venture is currently working with the city of Hagerstown and Washington County, Maryland, to identify prospective users for the property and present a package of competitive incentives to help maximize employment at the site.
The equipment will be kept on site in the short term to give potential users time to inspect and underwrite the opportunity. If no user is found, an auction for the equipment will occur in August, according to the joint venture.
New Mill Capital executive vice president Gregory Schain said that said the company will be working closely with M Davis Group and local officials to bring quality jobs back to this site.
"M Davis Group is a leading national expert in providing solutions for underutilized food plants, and the officials we've met with from both the City and County have a proactive mindset in helping get this plant back to life," Schain added.
