Real estate investor buys Duro Bag factory for $3.15 million
The Duro Bag factory that closed two years ago has been sold for $3.15 million, according to St. Croix County property records.
The buyer is Tom Elbert, of Erin Prairie, a real estate investor who has a history of turning vacant manufacturing plants into business incubators.
Among Elbert's past projects is the former Kolpak refrigeration plant in River Falls, now a business incubator known as the River Falls Industrial Center.
The Minneapolis/St. Paul Business Journal speculated in a recent website article that Elbert may have similar plans for the 147,000-square-foot Duro Bag building, which sits on 68 acres at 486 Baer Road in the town of Hudson.
The plant made grocery bags and an assortment of other paper sacks in October 2010. Sixty-three workers lost their jobs or had to relocate when the company moved the operation to its plant in Florence, Ky.
The Hudson facility opened in 1976.
The factory brought retired businessman Will Savadge to Hudson in 1980 to serve as general manager. When Savadge started his own company in 1988, Hudson native Paul Frye took over and served as the plant's general manager until its closing.