A shell building is located at the intersection of Ind. 67 and Merriman Road in Mooresville. PETER BLANCHARD/REPORTER-TIMES
A shell building is located at the intersection of Ind. 67 and Merriman Road in Mooresville. PETER BLANCHARD/REPORTER-TIMES
MOORESVILLE — In late 2018, the Mooresville Redevelopment Commission purchased a 100-acre parcel at Merriman Road and Ind. 67 for $3 million with the intention of constructing a shell building on the property to attract an employer to Mooresville.

More than three years later, that investment strategy appears to have paid off, as Illinois-based Dawson Property Holdings, LLC, has entered into a purchase agreement with the commission to take ownership of the 75,000 square foot building for $4,978,400, RDC president Dustin Stanley announced Thursday.

And while it cost the commission roughly $4.1 million to construct the shell building, the RDC counts the deal as a major win for the town of Mooresville, which will see an increase in its tax base as a result of the project.

'I want to thank the RDC commissioners, both past and present, for their contributions to this project,' Stanley said following the RDC meeting. 'I also want to thank our consultant, attorney, and the taxpayers for helping Dawson come to Mooresville.'

Dawson Logistics specializes in logistics for biopharmaceutical companies, according to its website.

The company plans to bring 25 jobs to the Mooresville area, with half of them paying between $65,000 and $100,000 annually, Stanley said. About 25 percent of the jobs will pay between $35,000 and $65,000, and the remaining 25 percent offer salaries above $100,000.

While other companies expressed interest in the building, Dawson set itself apart by agreeing to the full asking price, Stanley said.

'We knew we had pages of interested parties,' he said. 'We just needed one to beat everybody else.' Under the terms of the purchase agreement, the buyer has the right to a 60-day inspection period before the deal is finalized. Dawson can also extend the period for an additional $50,000 for each additional 60-day extension.

The closing date will be no later than 15 days following the expiration of the inspection period.

The other 90 acres

The Mooresville Redevelopment Commission still holds ownership of roughly 90 acres of land adjacent to the shell building. In December 2019, Nice-Pak announced plans to build a 760,000 square-foot facility at the site, but the project was abandoned. On Thursday, the RDC instructed Chelsey Manns, the commission's financial consultant, to identify brokerage services that could help market the property to prospective buyers.
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