Business & Tech
Fair Lawn Nabsico Plant Sells For $146 Million: What To Know
Land records provide details on who purchased the property, and reports say the new owner could tear the factory down and start fresh.
FAIR LAWN, NJ — Mondelez has completed a sale of the historic Fair Lawn Nabisco factory for $146.5 million, a company spokesperson confirmed on Monday. Bergen County land records show who purchased the property, and the new owner reportedly has landscape shifting plans for the site.
A deed for the property shows that CLPF Greek Fair Lawn LLC is the purchaser, with a business address of 33 Cotters Lane in East Brunswick, New Jersey. That business address is the home of Greek Development, a company that specializes in industrial design with an expansive list of properties across the state.
The property had previously been home to the Nabisco plant for decades, wafting smells of Oreo cookies into the air, and providing hundreds of jobs for county and borough residents.
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But, according to a report from NorthJersey.com, the new developer doesn't actually have plans to keep the factory. Rather, it will be torn down, and the property will be redeveloped, according to the publication.
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In a Facebook Live news conference, Fair Lawn Mayor Kurt Peluso said he'd had conversations with the new owners, but declined to name them specifically. He did add that they were already in the planning stages for the property, actively considering what type of businesses could go into the space.
"We're really fortunate to have a purchaser who's very committed to supporting the borough," said Peluso.
Additionally, Peluso was happy to confirm that the property would not transition to residential space, something he and other officials had been actively trying to avoid.
Asked whether it would be possible to save any part of the building — specifically the trademark red Nabsico lettering — Peluso added that it has been discussed.
"The owner is going to try and get us as much historical memorabilia as he can," he said.
"I shared the same request with him and he is willing to assist us."
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