ALBANY, GA (WALB) - The company that owns the former Cooper Tire plant in East Dougherty County confirms it has sold the property.
Hilco officials confirmed they sold the property to W.P. Carey, a real estate development firm.
City officials say on the surface, it gives hope of economic development.
"Anytime there is turnover there is opportunity. Any opportunity is a good one," said Albany City Manager Tom Berry.
The Cooper Tire Plant property was bought in 2011 by Hilco Global of Illinois, a real estate transaction and advisory service.
But the confusion comes because real estate papers filed in the Dougherty County Courts on October 31 show Cooper Sub LLC sold part or all of the property to COOP LLC for $6,789,000.
Economic Development Commission officials say it appears the property is essentially being transferred from one real estate holding firm to another.
But officials said they have been showing the property to a number of industries looking to expand.
"So many good people are looking at this community and it is exciting," said Economic Development Commission Board Member B.J. Fletcher. It is exciting to know that we are still a factor to be reckoned with."
"There is no telling what their plans are, but hopefully we'll find out pretty soon," Berry commented.
Since Cooper shut down operations at the plant in 2009, they have run their Southeast Tire Distribution through buildings along the railroad line at the rear of the property, leasing from Hilco since 2011.
Hilco officials did not say how much of the Albany property was sold, or for how much.