If the Erie County-created Sumitomo Rubber Task Force has its way and sticks with its timeline, a commercial real estate consulting firm will be hired by mid-summer to help create a blueprint for selling the shuttered Town of Tonawanda tire plant. Hiring a consultant could lead to the 2 million-square-foot Sheridan Drive plant getting sold, within a year or two. At least two offers may be on the table, Erie County Executive Mark Poloncarz says, although due to confidentiality clauses he can’t disclose their identity.
“With anything with regards to these large facilities, there's always tire-kickers,” Poloncarz said. “The question is, is it real? “
Sumitomo closed the 100-year-old plant in November, a move that surprised most, especially since the Japanese-based company had recently invested more than $130 million on upgrades within the motorcycle tire-producing complex. The closure saw more than 1,500 local workers lose their job.
“So, with any type of property or large facility like this, there are always tire-kickers that try to come in and get it at a very low-ball price. But it's there's a number of things that are that people need to remember. The Town of Tonawanda controls site plan authorization for the site, and that's going to be key,” Poloncarz said. “We also have a plan going forward so that we can ensure that the best use of the site comes out of it, rather than just someone purchasing it to potentially hold it for a future use that hasn't been determined at this point.”
Selling the plant will be a difficult task given its size, industrial history and redevelopment options.
