Remington Industrial Portfolio Hits the Market
The nearly 850,000-sqaure-foot portfolio is located in Huntsville, Alabama and Madison, North Carolina.
Firearms manufacturer Remington Outdoor Co.’s industrial portfolio and corporate office space has come to market. The nearly 200-year-old firearms manufacturer has filed for bankruptcy, resulting in the sale and auction of its assets. The nearly 850,000-sqaure-foot portfolio is located in Huntsville, Alabama and Madison, North Carolina.
Located in Huntsville, Alabama, Remington Outdoor Co.’s manufacturing facility is nearly 800,000 square feet on 112 acres. It houses industrial, office and laboratory facility space. The property includes a 554,000 square foot manufacturing plant, two office buildings totaling over 200,000 square feet and 20,000 square feet of office space, which houses a full-service cafeteria, break rooms and locker facilities. The gem of the property is a 14-acre construction site that is already prepared for build out.
The property is located in a foreign trade zone. It is located near a Huntsville International Airport, the International Intermodal Center and a multi-modal air cargo and freight rail access, all of which make the property a prime location.
The company’s corporate headquarters is in Madison, North Carolina, in the Piedmont Triad region. The property totals 43,168 square feet on nearly 14 acres.
NAI Global is marketing the property on behalf of Remington. Jim Terrell and Al Lieberman with B. Riley Real Estate, a national real estate firm and affiliate of B. Riley Financial, are leading the sale in partnership with NAI Global’s EVP Cliff Moskowitz, based in New York. Douglas McCullough and Randy Thomas, Stanhope Johnson and Nancy Cox will serve as local market experts.
Both North Carolina and Alabama are offering attractive incentives for businesses to relocate to these markets, and there is ample demand for relation opportunities. During the pandemic several companies have opted to relocate to new markets. Recently, tech giant Oracle announced plans to move from Silicon Valley to Austin, Texas. Tesla also announced plans to move to Austin, Texas. Hewlett Packard Enterprise is moving as well to Dallas, Texas, and Palantir Technologies moved its headquarters from Northern California to Denver this year.