The future of the former Necco factory in Revere is coming into focus as the new owners seek to fill the 829,000-square-foot facility with industrial, life science or R&D tenants.

The sprawling 2-story structure at 135 American Legion Highway is the largest block of available industrial space in Massachusetts, said J.R. McDonald, an executive managing director at Newmark Knight Frank which represents ownership in leasing.

“The ownership really believes strongly in where the e-commerce sector is going,” McDonald said. “With the proximity to (Logan) airport, we’ve seen a lot of demand for airport food-related users, and so much of the inventory has gone away, so this ownership wants to stay on that path.”

McDonald declined to comment on potential tenants, but the space could factor into the New Boston Food Market’s search for a new home, more than a year after it placed its 19-acre property at Widett Circle in Boston on the market.

The sale has been delayed by the food wholesale cooperative’s inability to find a suitable replacement location close to the airport and distribution routes, according to sources familiar with the process.

Framingham-based Atlantic Management and VMD Cos. acquired the 50-acre Necco property in 2017 for $54.6 million. Necco shuttered the plant in July after the company was sold to Round Hill Investments for $17.3 million at auction.

Necco, manufacturer of its namesake wafers and Sweethearts candies, had occupied the Revere plant since 2003 after relocating from Cambridge. It’s in the final stages of removing equipment from the building by the end of the year, McDonald said.

The factory was originally completed in 1982 and includes distribution, production, storage and office space.

Rezoning approved by Revere city councilors provides flexibility for a wide range of uses, including life science manufacturing, R&D and alcoholic beverages production. The space is subdividable, with the potential to break up the first floor into spaces as small as 150,000 square feet.