Nine years after Guilford Mills moved out, there’s a glimmer of interest in Cobleskill giant, vacant factory.
Two companies have repeatedly investigated buying the plant, according to Schoharie County Economic Developer Jody Zakrevsky.
“Five or six months ago, I would have said there was a little interest,” he said. “But we’ve been very impressed with the way they’ve gone about this.
“There may be a formal purchase offer.”
Guilford Mills closed nine years ago September 10––one day before 9/11. The next owner failed to pay taxes on the building, and Schoharie County took possession of the property a year ago.
Since then, the Board of Supervisors hired Coldwell Banker Commercial Prime Properties of Albany to market the plant.
The thrust by county officials is to get a large employer in the plant and get the property back on the tax roll.
Signs erected by the realty firm at the plant and along I-88 apparently generated interest, Mr. Zakrevsky said.
The factory is actually two buildings. The larger is 240,000 square feet, and the smaller is 120,000 square feet.
The asking price for the larger building is $2.6 million, while the price for the smaller is $900,000, Mr. Zakrevsky said.
One company is interested in both buildings and “would not employ large numbers, probably under 100,” Mr. Zakrevsky said.
But the company would not use the entire space, he added, and would sublease remaining space.
“There would be more employment that way,” Mr. Zakrevsky said.
Lowering the price to encourage a buyer is up to the Board of Supervisors, he said.
Although the county wants to recoup the $1.93 million in delinquent taxes, supervisors probably wouldn’t lower the price, according to Earl VanWormer, chairman of the Board of Supervisors.
“$3.5 million seems like a fair price,” Mr. VanWormer said. “If we drop the price too fast, are we doing a disservice to the taxpayers?
“We’d like to get all we could for it. I think we’ll hang in there.”
Mr. Zakrevsky cautioned that although there’s interest in Guilford, a sale isn’t a sure thing yet.
“Our competition on buildings like this is very stiff,” he said. “We get brochures and information on other sites in other states, especially down south. It’s not easy.”