Vince Anthony of Lee & Associates-Ontario represented the buyer, Rexcomet, Inc., a privately-owned company that specializes in wholesale aluminum products. Anthony also represented the seller with Michael Chavez of the Ontario office.
Rexcomet plans to relocate its cold rolled steel business from Ontario, Calif. Currently, there is one 3,522-square-
“Las Plumas filed for Chapter 11 Bankruptcy protection in November 2009 and was forced to sell by the court and their creditors,” said Anthony. “The property had been appraised by the seller's lender 24 months earlier at $6.5 million so the purchase represented an excellent value for Rexco. About half the property will serve as Rexco’s headquarters while the owner intends to lease out the other half to companies/users that need outside storage and can utilize rail service.”
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