A 620,000-square-foot building in eastern Douglas County will soon be up for sale by its owner, Bedford Systems.
Expectations back in January regarding a joint venture between Anheuser-Busch InBev and Keurig Green Mountain focused on the research and development of an in-home alcohol drink system have come to a halt, Chris Pumphrey, executive director of the Development Authority of Douglas County announced Wednesday.
Pumphrey said Bedford, a joint venture between Keurig Green Mountain and Anheuser-Busch, came to a decision it no longer have a need for the building which they purchased. He said Bedford has decided to sell the building at 7705 Staples Drive in Douglasville.
Keurig, known for its hot beverage pods, announced plans in June of 2014 to locate into the building on Staples Drive in eastern Douglas County to create 550 jobs and bring $337 million in capital investment in the county over five years.
The Douglasville facility was planned as a manufacturing center for Keurig Kold System cold beverage pods, a product that was discontinued by the company before Keurig opened its doors at the Douglasville manufacturing plant.
“Keurig developed a product a few years back that wasn’t well received,” Pumphrey said during the announcement of the new joint venture in February, “so they did not pursue the product. They are not walking away from an investment and want to work on ideas for their investment. They have announced a joint venture which may inject a serious investment.”
Pumphrey said Wednesday that Bedford, after analysis of the options, decided to sell the building to a user that "could bring immediate jobs to the community."
In February, the development authority voted to approve a resolution that would transfer assignment of an abatement agreement to the holders of the joint venture, Bedford Systems, and to transfer $440 million in bonds to the private equity firm.
According to Pumphrey, Douglas County had awarded the 10-year tax abatement to Keurig based on jobs, investment and wage projections, which began in 2016. The property will return to the county tax rolls in 2017, he said.
Douglas County Commission Chairman Romona Jackson Jones said, “We are thankful for the partnership of Bedford System. Their commitment to work with our economic development authority to identify a great company for our community exemplifies them as an honorable corporate citizen.”
Douglasville Mayor Rochelle Robinson said, “The investment made by Keurig creating a first-class facility positions Douglasville to compete on many of the top economic development projects for the state.”
Pumphrey said the economic development authority will work closely with a real estate marketing team from Colliers International’s Atlanta and St. Louis offices, targeting advanced manufacturing technology, research and development and professional services.