FORT WORTH-Allens Inc., a family-owned and operated vegetableprocessor, has purchased the former Ranch Style Beans facility at1734 East El Paso St. from ConAgra. The 211,743-square-footproperty, which sits on 20 acres near downtown, is valued at $15million, according to the Tarrant County Appraisal District.
The Siloam Springs, AR-based company will invest $5 million innew equipment to retrofit and modernize the facility, which ConAgraclosed in late 2009. It will use the facility for its newestcanning facility, bringing 140 jobs to the community.
The Fort Worth City Council approved Allen’s final incentivepackage this week. It gives the company a 50% tax abatement for amaximum of 10 years, according to David Berzina, executive vicepresident of economic development for the Fort Worth Chamber ofCommerce.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
