Deal on Barrie factory site

By Laurie Watt Barrie Advance January 18 2011
BARRIE – With a view of Highway 400 and good access that could get even better with a possible interchange at Big Bay Point Road, a former toilet-seat factory could see a new lease on life in 2011.

On Dec. 1, PBM Realty Holdings purchased the former Bemis factory, located at 200 Fairview Road. The 306,989-square-foot building was sold in 2007 to Fercan Developments – which had previously bought the old Molson factory up the road. In May 2007, Fercan paid $12 million for 200 Fairview Rd.
With industrial rail access, the building had been divided into three warehouses, and was valued in February 2010 at $10.75 million. It was most recently used as a G8 security and storage building.
“We felt the former Bemis building was an excellent addition to our portfolio, that it fit our business model and that the acquisition price was right,” PBM Holdings Inc. general manager Phillip Moore said.
Bemis bought the building in 1994 from General Tire – a company that left Barrie during the 1990s recession, for $2.1 million.
PBM Realty Holdings kept an eye on it throughout 2010 and waited for the $10.75-million asking price to drop. It paid $8.5 million.
“Our intention for the Bemis building is to lease it out as a whole or break it into smaller units, starting at 45,000 square feet,” said Moore. “I believe (200 Fairview) is the best large, vacant industrial building in Barrie.”
PBM Realty’s 1.6-million-square-foot portfolio also includes 168 Tiffin St., a warehouse temporarily donated to Barrie’s Christmas Cheer this holiday season.
The company also owns the old Volkswagen building at 49 Truman Rd., which measures 480,000 square feet. It too has several tenants and has vacant commercial office and industrial space, including a two-dock loading area.
PBM Holdings owns several other multi-unit properties in Barrie.
The company also owns the former Cotty’s Cleaners site, at 217 Dunlop St. E., which it plans to redevelop into luxury condominiums.
PBM also owns several properties on Industrial Park Road in Innisfil and a commercial building in Bracebridge.
In the past, the former Bemis building was being considered for a new Barrie police headquarters.
“There is potential to use it, but we are no closer to moving in than we were last year,” said Chief Mark Neelin. “I wouldn’t even say it’s in the works.”
He said the force needs a large piece of property if it were to consider closing the doors on the Sperling Drive headquarters. “It fits that bill, but it’s not the best location.”
And ultimately, city council decides where the police station is, said Neelin.
Aside from the Sperling Drive building, there are other police offices on Bell Farm Road, downtown and in the courthouse.