General Motors closes a plant in Lordstown, Ohio and sells it to a startup entity, Lordstown Motor Company. LMC is an affiliate of Workhorse Group (NASDAQ: WKHS), which is licensing technology for electric vehicles. What are your thoughts? https://www.freep.com/story/money/cars/general-mo…

Looks like that facility when operational was providing $800k in property tax a year to a town of ~3k. Given that a majority of the complex was built in the 60's it's not really configured to be a DC, and trying to divide the space and lease it to smaller tenants would be difficult in rural Ohio. A company based in the state wants to step up and use it for its original purpose most likely came with a very generous incentive package as the town most likely couldn't even afford to demo the structure and deal with the environmental issues that would come with it.

How does a start-up buy a 6M sq. ft. facility?

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How does a start-up buy a 6M sq. ft. facility?

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