Soglin: Potential Buyers of former Oscar Mayer plant are "Profes - WKOW 27: Madison, WI Breaking News, Weather and Sports

Soglin: Potential Buyers of former Oscar Mayer plant are "Professionals"

Posted: Updated:

UPDATE (WKOW) -- Madison Mayor Paul Soglin says he is ready for the sale of the former Oscar Mayer plant.

Reich Brothers Holdings expects to close on the deal at the end of October. Production at the plant ended in June.

Reich says some parts of the building may have to be demolished and some will need an industrial cleanup. Mayor Soglin tells 27 News finding someone to prepare the site for development is essential, because it is unusable in its current state.

"The Reich Brothers Company, they've done this before," said Soglin. "They're professionals, they'll make their own economic analysis and decide what stays and what goes."

Terms of the sale have not been disclosed.

******

MADISON (WKOW) – The sale of the former Oscar Mayer plant in Madison likely will close this month, but the future of the site remains unclear.

Jonathan Reich, co-CEO of New York-based Reich Brothers, tells 27 News the company's purchase of the property will likely be complete in the next week or so.

Reich Brothers specializes in acquiring and developing industrial properties, according to its website. Jonathan Reich said plans are not firm on how the property might be developed.

City of Madison Economic Development Director, Mike Mikolajewski, says the city wants to see any redevelopment of the site to include jobs to help replace those lost when Kraft Heinz closed the Oscar Mayer plant. Mikolajewski adds that Reich Brothers has seemed open to that desire in initial conversations.  

The Oscar Mayer plant, which at one time employed 1,250 workers, closed in June 2017. Since then, city leaders have discussed a variety of options for the facility.

At Tuesday's Madison Common Council meeting, members of the newly-created Oscar Mayer Strategic Assessment Committee were chosen. Mikolajewski says the committee will work with stakeholders, including Reich Brothers, on the future of the site at the corner of Packers and Commercial avenues.

Powered by Frankly