HENRY COUNTY, Va. (rbs news now) — The Henry County Industrial Development Authority has approved a right of first refusal for an undisclosed company on the shell building at Lot 8 in the Patriot Centre Industrial Park.

The decision, taken during the IDA’s September 9 meeting, gives the undisclosed company the opportunity to purchase the property if another offer is made while the company evaluates the facility for potential manufacturing operations.

According to a news release from the county, the company’s name is being withheld during the due diligence process.

Lot 8 has been a focal point of economic development activity in recent years.

In 2021, Schock GmbH announced plans for an $85 million U.S. manufacturing operation at the site but later opted not to expand into the United States.

The IDA subsequently repurchased the building at its original sales price, plus the value of improvements Schock had made.

The right of first refusal will remain in effect until November 28, with the option for a 30-day extension, the release said.

If exercised, both parties would enter good-faith negotiations to finalize a purchase and sale agreement for the property.

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