Eaton Center sale pending
NORWICH – The Chenango County Area Corporation announced Monday that a Pennsylvania businessman has secured an option to purchase the Eaton Center in Norwich.
The Eaton Center is a 199,000 square foot facility encompassing approximately 6.5 acres in downtown Norwich. It currently houses offices for over 55 businesses employing approximately 350 people. Roughly 90 percent of the renovated space within the building is rented.
The complex was given to the Chenango County Industrial Development Agency and the Area Corp. in 1996 after Procter & Gamble moved its administration and marketing operations to Cincinnati. P&G also provided a financial package to sustain the office building for the first five years.
Norwich Realtor Irmin A. Mody represents the interests of the potential buyer, Randal Hadeed of Fleetwood, Pa. During the option period, Hadeed and his representatives have the opportunity to perform a number of environmental and financial surveys, and to inspect the property before making a purchase decision.
Hadeed is the founder and president of eAuction Solutions, an online auction management company. His family has been in the insurance, financial and development business for over 60 years, with business interests and companies in the United States, Europe, and throughout the Caribbean.
In a letter to the Area Corporation, Hadeed stated that if he did purchase the Eaton Center, his goal would be “to make his focus in the Eaton Center a long-term commitment” and “possibly relocating one or more of his businesses there, resulting in roughly 60 new jobs to the area.”
Dave Hall, executive director, Chenango County Area Corporation, said, “We would not expect the Eaton Center to drastically change direction. The property is a very viable commercial office space, and can certainly become more so with Mr. Hadeed’s involvement.”
Hall said Hadeed found Chenango County “beautiful” and was in the process of purchasing a farm here.
The Eaton Center is a 199,000 square foot facility encompassing approximately 6.5 acres in downtown Norwich. It currently houses offices for over 55 businesses employing approximately 350 people. Roughly 90 percent of the renovated space within the building is rented.
The complex was given to the Chenango County Industrial Development Agency and the Area Corp. in 1996 after Procter & Gamble moved its administration and marketing operations to Cincinnati. P&G also provided a financial package to sustain the office building for the first five years.
Norwich Realtor Irmin A. Mody represents the interests of the potential buyer, Randal Hadeed of Fleetwood, Pa. During the option period, Hadeed and his representatives have the opportunity to perform a number of environmental and financial surveys, and to inspect the property before making a purchase decision.
Hadeed is the founder and president of eAuction Solutions, an online auction management company. His family has been in the insurance, financial and development business for over 60 years, with business interests and companies in the United States, Europe, and throughout the Caribbean.
In a letter to the Area Corporation, Hadeed stated that if he did purchase the Eaton Center, his goal would be “to make his focus in the Eaton Center a long-term commitment” and “possibly relocating one or more of his businesses there, resulting in roughly 60 new jobs to the area.”
Dave Hall, executive director, Chenango County Area Corporation, said, “We would not expect the Eaton Center to drastically change direction. The property is a very viable commercial office space, and can certainly become more so with Mr. Hadeed’s involvement.”
Hall said Hadeed found Chenango County “beautiful” and was in the process of purchasing a farm here.
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