Tentative Deal Made On Colgate Plant

by Gabe Bullard on October 9, 2008

The complex that housed the Colgate-Palmolive plant in Clarksville may soon change hands. Officials won’t say yet who has expressed interest in buying the property, but a sale agreement has tentatively been reached.

Clarksville Director of Redevelopment Rick Dickman says the potential buyer has until the end of the year to inspect the plant before finalizing the sale.

“If they find something that’s a dealbreaker they could simply back out of the deal, providing it was having to do with an environmental problem or that the offering was for substantially less property, something of that nature,” says Dickman.

The plant was last listed for $9 million. Dickman says the city would like to see the 52 acre site turned into a mixed-use development containing apartments, restaurants and retail.

The facility has been empty since Colgate stopped production there December of 2007. Dickman says several nearby homes will likely be purchased and destroyed if the Colgate sale goes through. Negotiations are under way for the sale of the homes.

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