Three Vacant U.S. Paper Mills Sold to Niagra Worldwide
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Niagara Worldwide of St. Louis, Mo., USA, and Niagara, Wis., has purchased the Columbia and Greylock mills in Lee and the Niagara mill in Lenox Dale, Wis., according to company president Eric Spirtas. The sale price was not disclosed.
Spirtas said the company is working with town officials, other developers, and prospective tenants to figure out the best reuse of the facilities, which were shut down more than six years ago by the previous owner, Schweitzer-Mauduit International.
The Columbia Mill, which dates back to 1826, the Niagara Mill, circa mid-1860s, and the Greylock Mill, erected in the mid-1960s, are all located in residential neighborhoods. Niagara and Columbia also are situated along the Housatonic River. The developer believes the Greylock Mill, being the youngest of the three, will be the first prepared for reuse.
Spirtas said that "Greylock is prime and set up, ready to accept tenants. We're talking to two [companies] right now and that would be a home run to lock in those two groups."
Property redevelopment is among Niagara Worldwide's 14 business ventures that include manufacturing, commodities trading, construction services, and fuel distribution. Niagara is currently working on an overall plan for all three mills and intends to seek out public input on their reuse.
