Investors preparing to buy former Native Textiles complex in Queensbury
By Robin K. Cooper Reporter, Albany Business Review
Nov 15, 2017, 4:35pm EST
A group of investors are preparing to buy the former Native Textiles knitting mill in Queensbury, New York, and convert the 116,000-square-foot building into manufacturing and warehouse space.
Tim Barber, owner of JAG Group LLC contracting firm in South Glens Falls, and three business partners plan to purchase the building on Nov. 27 for an undisclosed price. The property is located off Carey Road about a mile west of Exit 18 of the Interstate 87 Northway. The site includes 33 acres of land and had a list price of $3.4 million.
"It is really well built and there really is nothing else like it in the area," Barber said.
He and his business partners will purchase the property through a real estate holding company called 24 Native Associates LLC. The property is owned by Native Textiles, which vacated the building a decade ago. At one time, Native Textiles also operated a knitting mill on Warren Street in Glens Falls.
Barber has a construction crew on site and has begun cleaning up the building. They are preparing to install new LED lights. The investors are seeking permission to house multiple tenants in the building who need space for manufacturing, distribution and warehousing products and raw materials.
AngioDynamics is expected to be one of the first tenants, Barber said.
Finding a buyer or new tenant for the building has been a priority for Queensbury and Warren County economic development officials since Native Textiles shut down.
Barber became interested in the property this summer after a town planning official mentioned that zoning regulations had changed to permit multiple tenant usage.
The property was listed by Stephen Borgos, a broker with RealtyUSA. Barber plans to work with Borgos to identify other tenants interested in leasing space in the building.
According to an application filed with the town, Barber expects to create spaces with 10,000 square feet to 20,000 square feet for each tenant, depending on their needs.
The building will be ready for tenants to move in by early 2018.