Tyson Offers to Buy Out Lease on Closed Iowa Plant

July 14, 2016 10:57 PM

Tyson Foods is offering to pay $400,000 to buy out its remaining lease on a plant it closed in 2014 in the northwest Iowa town of Cherokee.

Tyson's Wes Morris said Thursday the Springdale, Arkansas, company is offering to pay all of its remaining rent for the next four years to end its interest in the vacant building.

Morris says that would give the building owner and local officials more control over marketing the plant.

It wasn't immediately clear Thursday afternoon whether the building's owner will accept Tyson's offer. New York real estate investor Mark Langfan's family owns the building.

Previously, local leaders in Cherokee had criticized Tyson's handling of the building.

Tyson says several food companies expressed interest in the plant but decided it wouldn't work for their needs.

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