AUCKLAND – A century-old Auckland foundry has been bought by an Amazon-based real estate company that is planning a major industrial project on the big property.
AB&I Foundry, a scrap foundry that began operating in Auckland in 1906, is closing in stages and will be completely closed sometime in early 2023, according to the foundry owner McWane Inc. The last pipe installation operation is planned for June.
Now Duke Realty, acting through an affiliate, has purchased the 15.1-acre site in East Auckland, according to documents filed on April 28 and 29 at the Alameda County office.
The developer paid $ 62.8 million in transactions that were completed on both dates in late April, county documents show.
The sellers were McWane Inc. and Bosley Investments. The deals were purely monetary transactions, according to property documents.
Apart from that, Duke Realty has submitted a proposal for a comprehensive development of the property, according to the documents submitted to the city specialists in Auckland.
“The proposed project represents an opportunity to develop best-in-class modern industrial building, representing a significant investment in East Auckland,” Duke Realty said in its application to the urban planning department.