An Atlanta real estate company has cleaned up a former apparel manufacturing building in Commerce and is showing it to prospects.
Lincoln Property Co. is the receiver for the lender on the 90,000-square-foot on building on Homer Street that once housed a Wrangler, then a Bassett-Walker apparel company.
Lincoln’s Denton Shamburger said his firm has entertained “six or seven” potential buyers in the year that it’s been involved with the building, which sits on a 14-acre tract.
“We stepped in when the lender assigned us as the receiver,” said Shamburger. “There was still a tenant there in the spring of 2010.”
Since that time, the building has been vandalized. Virtually all of the electrical wiring is gone, but Shamburger said potential clients understand the situation.
“We are confident in the asset, confident in the pricing, and confident in what we’ve done to clean it up,” he said. “Does it need work? Absolutely, but it can be a very functional, viable piece of the downtown landscape.”
Shamburger declined to identify any of the prospects who have looked at the building, but Commerce city manager Clarence Bryant said one recent prospect is the manufacturer of electric generators.
The asking price is $720,000, Shamburger said.
Putting the building back into service would be a boon for the downtown. The facility is located a block off North Broad Street, and the property is adjacent to the Commerce Civic Center Parking lot on the southeast side.
