A shuttered dairy processing plant in Honolulu has been listed for sale for $25 million after shutting down in April, a closure that affected more than 200 employees.
Dallas-based property owner Dean Foods Co. is working with local commercial real estate firm Cushman & Wakefield ChaneyBrooks to market the 2.15-acre (0.87-hectare) Meadow Gold Hawaii site near Ala Moana, the Honolulu Star-Advertiser reported.
Cushman & Wakefield ChaneyBrooks managing director Joe Haas has said the Honolulu property should attract buyers interested in developing high-rise housing, given the size and zoning of the land.
“This is a once-in-a-lifetime opportunity to purchase a manufacturing/distribution center of this size near Ala Moana,” firm Vice President Anthony Provenzano said.
The listing is part of an effort to repay bankruptcy debts accrued in November, company officials said. It also follows a failed agreement to sell the only milk processor in the state to an investment firm that planned to continue operations under the same name.
Dean Foods sold Meadow Gold’s other Hawaii operations for $7 million in April including a processing plant in Hilo and distribution facilities on Hawaii Island, Maui and Kauai, officials said.
The Hilo plant will be expanded to serve the state with Meadow Gold products, Bahman Sadeghi said. Sadeghi formerly owned the now-defunct Foremost Dairies-Hawaii and acquired the Hilo property after a previous bid fell through.
Dean Foods was the nation’s largest milk processor and has been settling debts by selling its collection of businesses and brands across the country to a variety of buyers.