NEW YORK and LOS ANGELES and CHICAGO, March 27, 2018 /PRNewswire/ -- Reich Brothers is pleased to announce the acquisition of a state-of-the-art 129,850 square foot , production and warehouse facility located on 19.66-acres in Salem, OR. The facility was constructed in 2009 by Sanyo Solar, a subsidiary of Panasonic Corporation, for roughly $80,000,000 and was designed to manufacture silicon ingots for solar power cells.
The facility is located at 5475 Gaffin Road SE and is in close proximity to corporate neighbors including Home Depot and a newly commissioned 1,000,000 square foot Amazon distribution facility. The nearly 130,000 SF building features ceiling heights ranging from 24ft to 35 ft. clear, and include significant water and power capabilities. The site is easily accessible to I-5 with great visibility from OR-22.
Reich Brothers expects to repurpose the facility for light manufacturing or distribution, in an effort to generate jobs and stimulate the local economy. "We are committed to preserving the integrity and infrastructure of the site, and will invest heavily in certain improvements to make the building suitable for another tenant," said Alex Reich, Co-Director of Business Development & Acquisitions at Reich Brothers. "We know that several jobs were lost when this facility closed, and we look forward to hopefully bringing in a new business that can utilize the facility for its utmost potential."
Reich Brothers will sell the entire contents of the Salem, OR facility via public auction on May 9, 2018. The auction can be viewed at www.gaauction.com and www.reichbros.com. The auction will feature roughly 70 Crystal Growers and other production equipment related to silicon ingot manufacturing.
Reich Brothers is open to entertaining a turnkey offer of the machinery, equipment and real estate before the May 9th auction sale.
About Reich Brothers Holdings, LLC
Reich Brothers Holdings, LLC specializes in acquiring turnkey manufacturing plants and provides for the bulk purchase of equipment packages and monetization through the auction sale process. Reich also has a lending division, which provides term loans and sale-leasebacks; and a decommissioning division. Reich Brothers is partnered with Victory Park Capital, a privately held registered investment advisor dedicated to alternative investing in middle market companies across a diversified range of industries. For more information, visit www.reichbros.com.
SOURCE Reich Brothers Holdings, LLC