Spitz factory remains on the market

By Charles Lefebvre
October 31, 2018 - 5:17pm Updated: October 31, 2018 - 7:02pm

 

BOW ISLAND, AB — Three months after the Spitz Plant in Bow Island closed down, the plant still remains unoccupied and up for sale.

The listing for the plant in the County of 40 Mile is still posted on the CBRE’s website. The property is being listed for $2 million.

Evan Renwick, sales representative with CBRE, says there has been a lot of interest from companies, primarily those in the agriculture sector.

“A lot of groups have come forward with tours and expressed interest,” he said over the phone from Calgary. “We’re working with a couple of groups on the property. The main challenge is there’s going to be a restrictive covenant placed on the property, so certain uses that may be most applicable for that building and property, won’t be allowed to operate it for their business.”

Renwick added, “The main purpose for the restrictive covenant is to restrict any business to come in or new business that directly competes with PepsiCo, and what they were previously doing at the Spitz plant,” he said. “So, savoury snacks, direct sales of food, is going to be challenging to put into place there.”

PepsiCo, the parent company of Spitz, announced in February that that they would be closing the Spitz Plant and moving Spitz production to the United States. The plant closed in July.

Renwick says he cannot say when a deal on the plant will close, but he’s hoping CBRE will find a buyer for the property in the near future.

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