The industrial complex once occupied by Chobani, located in the Town of Norwich, has been on the market for more than a year. (Photo from Keller Williams real estate)

NORWICH – The prospective buyer of a multi-million dollar industrial complex in Norwich has been named by Commerce Chenango, quelling local rumors about the fate of the 87-acre commercial site.

The New Jersey-based KS Group, a real estate acquisition firm specializing in real estate investments, is moving ahead with a purchase agreement of the site once owned by the Greek yogurt maker Chobani. The deal brings an end to a year-long search for a prospective buyer for the industrial facility that had been initially listed for $4.9 million.

KS Group has an extensive portfolio of 4,000 mid and high-rise rental units in operation or at various stages of construction in the New Jersey area, including a 15-story luxury apartment building in Newark, NJ, and another 45-story luxury apartment building, named “The Summit,” also in Newark. The company additionally maintains a number of medical care facilities in the state.

On the construction side, KS operates several businesses in the lumber and steel sectors, including KSJ Perlen Steel, a custom fabrication company specializing in building materials for elevator and construction industries in New York City and surrounding areas.