The former San Juan bioenergy facility, a five-acre oil seed crush plant in Dove Creek, Colo., will sell at a lender-ordered auction on Oct. 8 by Maas Companies.
Built in 2008 for $2.5 million on leased land in the Weber Industrial Park, the five-year old plan was originally a local co-op targeting biodiesel production from sunflower oil but was never purchased due to the financial crisis. The co-op adapted to include food-grade vegetable oils, animal feed, renewable heat, electricity and wood pellets.
However, the 3,375-square-foot building was built and houses an office, lab, restroom and large open production/warehouse area. The site operated until 2011.
Now, over 60 equipment lots will be offered in both individual and bulk tracts.
“This is a great opportunity for new owners! The facility is the only one like it in a 430-mile radius,” said
The current lease terms with the Dolores County Development Corp.—the owner of the land where the property resides—are 99 years with a monthly payment of $2,730 through December 2016. Attorney Ryan Behrman, from Stinson Morrison Hecker LLP, is overseeing the assignment of lease on behalf of the seller.
Rochester, Minn.-based Maas Companies said the auction will be held on location starting at 10 a.m., and that offsite bidders will have an opportunity to purchase this piece of land, too.
Maas said bidders can make on offer on the two buildings and oilseed production equipment package to remain on land lease, the two buildings to remain on land lease, or the oilseed production equipment package to be removed off-site. The piecemeal lots will follow the tract offerings.
