Trustee Finds Buyer for “Old GM” Factory in Ohio

Brownfield Communities Development Co. has agreed to purchase a Mansfield, Ohio, stamping plant that was among the assets General Motors Co. left behind in bankruptcy in 2009.

The price for the facility, which was shuttered in 2010, was not disclosed. Dover, Ohio-based Brownfield says it plans to demolish about half the factory and develop the remainder as a modern industrial park.

The property was sold by RACER Trust, which was created by a bankruptcy court in March 2011 to sell Old GM's remaining real estate. Including the stamping plant, RACER will have sold 17 of its 89 properties for a total of more than $24 million.