A new owner should be in place by mid-October for the former Agriventure Agway site at 376 Danbury Road in New Milford.

The Department of Transportation bidding process for the sale of the state-owned property is in the final review stage of a $405,000 bid, placed by New Milford attorney James M. Powers, acting as a trustee. Bids were opened July 7.

"The bid still has to go through the Office of Policy Management and then a final review process by the Department of Transportation," said DOT spokesman Kevin Nursick on Tuesday.

"But we don't expect any problems. It should be completed in another six weeks," Mr. Nursick said.

The buyer's name was not released. However, it was acknowledged the buyer has retained Goodfellow Ashmore CORFAC International's services.

Goodfellow Ashemore specializes in commercial real estate investment and also acts as a commercial broker and in commercial real estate development.

The 376 Danbury Road site became an eye sore earlier this year. Derelict since the Agriventure business vacated the property in August 2010, the building and awnings took extensive damage over the harsh winter months. Sitting between New Milford High School and a small Dunkin' Donuts and Buster's Ice Cream plaza, the building was deemed a hazard .