Real estate company buys Cooper Tire facility
Photo by Casey Dixon
J.D. Sumner
An Illinois real estate company has purchased the former Cooper Tire & Rubber Co. plant in Albany for $8.5 million, deed records show.
The court records say the transaction between Cooper and Hilco Real Estate LLC of North Brook, Ill., doing business as HRE Albany LLC, was completed Sept. 29.
Ray Kaye, executive vice president of Hilco, confirmed the purchase Wednesday and said that the company is already working with prospective tenants.
“We did purchase that facility and intend to keep Cooper on as a tenant in a portion of the building for the foreseeable future,” Kaye said. “In addition, we’re looking for one or more tenants to occupy most of the remaining building.”
Ted Clem, president of the Albany-Dougherty Economic Development Commission, said the EDC was aware of the pending transaction but that the details of the transaction would have to come from either Hilco Real Estate LLC, the parent company of HRE Albany LLC., or Cooper.
Cooper has largely marketed the massive, 1 million-plus square-foot facility on its own since the company announced in 2008 that it would be closing the majority of the plant
Related Articles
Dougherty Jail graduates first class of female GED recipients
“It was an escape. I can say this has been challenging. I want to express my gratitude for being able to attend this program.”
From cotton to cloud: In the data center debate, is rural Georgia once again being asked to carry the cost?
Across much of rural Georgia, the abandoned cotton warehouses and shrinking tax bases remain — enduring reminders that industries built to serve distant markets do not necessarily stay rooted in the communities that first sustained them.
Dawson Council approves $400,000 lifeline in emergency meeting as financial accountability remains elusive
Less than a week after city officials publicly acknowledged the City of Dawson cannot continue operating without additional financing, the Dawson City Council convened a hastily called emergency meeting Tuesday evening and unanimously approved authority to borrow up to $400,000 through a tax anticipation note.
