The closed Cooper Tire plant in Albany was sold for $8.5 million.
Albany Dougherty Economic Development Authority chairman Ted Clem says the plant was bought by Hilco Real Estate of Northbrook, Illinois.
The plant shut down two years ago and 1400 people lost their jobs.
Cooper still uses part of the facility in East Albany as a distribution center.
Clem says Cooper will now lease that part of the plant from the Hilco.
Clem says he knows of no immediate plan for any company to occupy the rest of the plant.
He added that Hilco sees value in the facility with hopes of leasing the plant to other tenants.
Copyright 2011 WALB. All rights reserved