CRE 101 Blog

A battery manufacturer has withdrawn plans for a $2.6 billion factory on 360 acres in Coweta County and must now repay money granted to it by local and state governments.

The Atlanta Business Chronicle reports Freyr Battery entered into an agreement to sell its 368-acre site south of Newnan to an undisclosed buyer for $50 million. The property is at Interstate 85 and Bethlehem Church Road, south of the Newnan-Coweta County Airport. Freyr purchased the property in late 2022 for $42.2 million.

Freyr had announced its Georgia project in 2022, promising over 700 jobs. It received a hefty incentive package and made Newnan its home base. Freyr has changed its business focus, moving into renewable energy.

In recent months, Coweta County has been the target of data center developers and homebuilders. A $17 billion data center proposal emerged in January, and a nearly 700-home project was pitched in November.

The post Battery Maker Backs Out on $2.6B Atlanta-Area Factory appeared first on Connect CRE.

​  A battery manufacturer has withdrawn plans for a $2.6 billion factory on 360 acres in Coweta County and must now repay money granted to it by local and state governments. The Atlanta Business Chronicle reports Freyr Battery entered into an agreement to sell its 368-acre site south of Newnan to an undisclosed buyer for $50 …
The post Battery Maker Backs Out on $2.6B Atlanta-Area Factory appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News