Tower Investments, LLC, a private California-based real estate investment and development company, has purchased the former Panasonic facility in Danville for $10 million. Panasonic will continue its operations through an agreement with Tower by which it will lease approximately 200,000 square feet of the 787,421-square-foot industrial facility. Wausau Paper-Bay West will occupy most of the remaining space. Panasonic, which has approximately 180 employees, is using its portion of the plant for office space and after-market services, as well as for some production and assembly of the company’s vacuum and floor cleaning lines. Wausau Paper-Bay West is utilizing its section of the building as a distribution center for products made at the company’s plant in Harrodsburg.
May 14, 2021