Commercial Development Company, Inc. (CDC) | Lake Charles CertainTeed Plant
18693
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Lake Charles CertainTeed Plant

Lake Charles CertainTeed Plant

10:25 11 February in Industrial
 

Lake Charles CertainTeed Plant

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Project Overview: In December 2019, CDC announced the acquisition of a retired PVC resin manufacturing plant located in Lake Charles, Louisiana. The 19-acre site and onsite assets were purchased by CDC affiliate Lake Charles LLC.

After 40 years of operations as a polymer plant, the site officially closed in January 2019. CDC and affiliates are now actively preparing the retired industrial site for redevelopment. Initial activity includes permitting, removal of universal waste, and demolition of most of the buildings and infrastructure on site. CDC expects the site to be fully demolished by April 2020.

The transaction included the acquisition of real estate assets and a corporate indemnification for legacy environmental liabilities associated with the site. Environmental Liability Transfer, Inc. facilitated the transfer of liabilities. CDC will now oversee demolition of the site, with an eye to redevelop shortly thereafter.

Throughout the demolition process, CDC will look to quickly reposition the site to take advantage of the area’s strong industrial real estate market and booming oil and gas market.

CDC is currently evaluating the market and meeting with local economic development leaders to find end users who could benefit from the site’s attractive features, which include on-site rail, immediate access to major highways, and access to the strong southwest Louisiana industrial market, which represents the fastest growing metropolitan area in Louisiana for 5 years running.

“We are excited to expand our redevelopment efforts into the Lake Charles area” said Adam Kovacs, Executive Vice President at Environmental Liability Transfer, Inc., “Our acquisition of this retired plant is the first step to repurposing the property and moving it back into productive use – the Lake Charles market is in an impressive growth phase and we are eager to see the environmental and economic benefits that this transaction brings to the area and are thrilled to be part of this surging community.”

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