An optimistic person may look at the completed – and unoccupied – shell building at the Henderson-Vance Industrial Park and say “if you build it, they will come.”
The pessimist may say “don’t count your chickens before they hatch.”
Well, the shell building was built and a buyer in hand, until the 11th hour when the deal fell through.
That’s when Henderson-Vance Industrial Park, Inc. President Dan Brummitt summed up the process like a realist: “That’s real estate.”
Brummitt told WIZS News Tuesday that the deal that had seemed sewn up had, in fact, died.
The unnamed buyer had requested a 7-day extension right before the deal was to close, and then another 30-day extension after that. On the last day of the last extension, and right before the due diligence period was set to expire, the buyer backed out.
County Attorney Jonathan Care told WIZS News in an email that both sides had been in negotiations during the extension periods, but “the buyer’s agent told us in the final hour of the last day of the extension period for due diligence that the buyer would not be
proceeding forward, and (is) terminating the contract.”
The building is owned by the Henderson-Vance Industrial Park, Inc. – not by the city or the county, Care said.
“This is what we did not want to happen, as the building has been off the market now for several months, interest has continued to accrue on the construction loan, and the Industrial Park is back at square one with getting the building sold.”
Brummitt said that interest in the building is good and so it’s on to the next purchaser.
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