Apr
15

Concord’s 3.5 Million SF Philip Morris Plant Sold

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The sprawling Philip Morris site in Concord has sold after sitting vacant for several years since the cigarette manufacturing plant closed.

It remains unclear how the new owner, Victory Industrial Park, will use the plant, though the buyer said in a statement that the “company or companies that will occupy the site is/are in the field of clean-tech infrastructure.”

“After many years, we have received word from Altria of the sale of their former Philip Morris property to Victory Industrial Park,” reads a statement from the City of Concord. “The thousands of acres of land and millions of square feet of buildings should play a crucial role in the development of new jobs in Concord. The City of Concord looks forward to working with Victory Industrial Park in the future.”

Victory Industrial Park also released a statement confirming its purchase of the 2,023-acre site for $68.5 million.

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