May 31, 2012
Former Hershey chocolate factory in Smiths Falls, Ontario sold
The Town of Smiths Falls, Ontario recently announced that Icon International Inc., a subsidiary of Omnicom Group Inc. has acquired the former Hershey Chocolate factory in the community about 80 kilometres southwest of downtown Ottawa.
“ICON looks forward to working with the Town of Smiths Falls to find a sustainable solution for use of the Hershey facility,” ICON real estate vice-president James Tully stated in a press release May 14. “Our objectives are in line with the town and that is to secure a solid purchaser for the plant at our earliest opportunity.”
The former Hershey plant, located on the east side of the town, closed in 2008 after 46 years of operation. It takes up an entire block bounded by Hershey Drive, Lorne Street, a railway track and Queen Street, formerly provincial Highway 43.
According to a document published by commercial real estate services firm CBRE Inc., which had advised Hershey Foods Corp. on the property sale, the plant is an eight-building complex on 39.6 acres with a gross building area of 472,430 square feet.
It includes, among other things, a 168,803-square foot distribution centre built in 1989, a 159,928-square foot production building built in 1963, a 8,636-foot utility building and a 1,178-square-foot water treatment building. At the time it was closed, the town had planned to repaint the municipal water tower, which carried the slogan “Chocolate Capital of Ontario.”
Stamford, Connecticut-based Icon is a financial services firm which engages in barter transactions for real estate and other corporate assets.
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