CORNWALL, Ontario – It appears as though talks are taking place for the Eleven Points Logistics property to be taken over by a large corporation with designs on setting up “something huge” in Cornwall.
Coun. Mark MacDonald cryptically suggested Friday at a budget meeting that city officials have had contact with a business person intent on finding a use for the facility that will be shuttered thanks to the failed Target operation in Canada.
“A gentleman has been (seeking to meet) with the mayor, chasing a big corporation to come in here and take that place,” said MacDonald. “He’s talking something huge.”
Sources indicate the facility would remain a distribution hub.
But just who the person is and how successful he will be remains a mystery, at least for now.
The city’s economic development department is hamstrung in helping to find a tenant for the facility because Target has filed for bankruptcy protection, and its assets are being administered by a trustee and the courts.
“It’s a bit of a slower process – the courts are involved,” said economic development manager Mark Boileau. “The process is not clear yet as to whether it will go to a traditional real estate processor a bid process.”
Boileau said despite the challenge, he is fielding inquiries about the building.
“That’s not to say they will be closing on any deals – but I am getting inquiries,” he said. “We’re not sure exactly how (the process) will work – typically I have a beautiful, glossy pamphlet to give you on the property.
“To find a suitable user or owner, we need a little bit of time. I certainly hope it doesn’t go through a bid process because it doesn’t do us any favours.”
The closure of the Eleven Points Logistics facility resulted in 350 people losing their jobs.
