The Gold Rock Steel and Concrete Plant and the adjacent properties on Grand Bahama Highway are on the market after the company shut down two of its divisions last year in a standoff with the Grand Bahama Development Company (DEVCO), a subsidiary of the Grand Bahama Port Authority (GBPA), over its access to raw material from an excavation site at the Devonshire Subdivision.

Owned by the Del Zotto family of Ocala, Florida, the 273,204-square-foot property, which is also home to the Do It Center, Home Design Center, and Gold Rock Precast Concrete Plant and steel fabrication shop, is listed exclusively with James Sarles Reality at $46.5 million.

When contacted, Sarles, president of the realty company, did not wish to comment; however, he referred this publication to representatives of the Del Zottos, who also did not respond.

While the two manufacturing departments, their warehouses and show areas were closed last year, the Do It Center and Home Design Center remained in operation.

However, on Monday, May 15, management announced that the Home Design Center officially closed its doors.

"We are officially closed, permanently," the company said.

"We would like to thank the entire community for their continued support over the past 12 years. We hope the citizens of this island have leaders promoting the growth and prosperity of the island soon.

"Our customers have been like family to us ... and that is our biggest accomplishment."

An employee, who requested anonymity, claimed business at the Do It Center has fallen off, since the "stalemate" between the company and the GBPA.

"It is not what it used to be," the employee said.

"I believe it is because of what is being said out there in the community."

The employee said it is regrettable that the matter between the company and DEVCO could not be resolved in the best interest of everyone involved.

"But an investor will always look at their bottom line and that is the dollar sign," the employee said.

Prior to shutting down the manufacturing operations, executives on both sides engaged in a back-and-forth "finger-pointing" exchange.

Gold Rock said that its issue was with the GBPA, (DEVCO's parent), which it claimed blocked the purchasing of raw material from the Devonshire excavation site.

"The decision to withdraw our investment in its entirety comes from years of witnessing the blatant disregard for the growth of this island by the GBPA," the Del Zotto family said in a statement.

Meanwhile, DEVCO said it continued to work on the best outcome for the Grand Bahama community, given that the closure of Gold Rock will mean the end of employment for a number of Grand Bahamians.

"The Grand Bahama Development Company Limited (DEVCO) is aware of reports that Gold Rock Limited has begun disassembling its operations and removing assets from Grand Bahama," the statement read.

"DEVCO has at all times remained open to further negotiation and hopeful of striking a balance that ensures Gold Rock every chance of success, while also granting other licensees the opportunity to prosper using resources that were not being utilized by the Del Zottos' operation."

Despite the communication, Gold Rock closed it companies.

Grand Bahama Chamber of Commerce President James Carey said it is unfortunate that no other solution was reached.

"The whole process with Gold Rock has been quiet for a while except for the fact that the whole operation is on the market," Carey said.

He said his main concern was the people left unemployed by the closure of the concrete sections of Gold Rock.

"However, I think with the expertise those persons gained while being employed there, they can take that elsewhere," he said.

Gold Rock employed 130 Grand Bahamians between the two concrete and steel manufacturing departments.

Carey believes that the vacuum left by Gold Rock has made room for other businesses to come on stream such as Bahamas Hot Mix, which expanded its Nassau-based operations into Grand Bahama, and a new business, Heroic Concrete and Concrete Products, which is expected to break ground on May 25.

Heroic President and Chief Executive Officer (CEO) Glennett Fowler, who is also president and CEO of FowlCo Marine and Logistics Management, is investing $6.2 million in the new operation.

Fowler said that $5 million in financing was raised with Nassau-based RF Bank and Trust.

The company is expected to create up to 70 jobs over the next several months.

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