California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Once-Shuttered Saw Mill Sold in Rancho Cucamonga
An Inland Empire mill that fell into disuse has been purchased. A Texas-based steel manufacturer got $313 million for a 95-acre section of industrial land in the IE.
The deal’s principals: Commercial Metals Company sold the site in Rancho Cucamonga to BTC III Acquisitions LLC, based in Los Angeles.
Commercial Metals Company (CMC) padlocked the facility in December 2020, according to a San Gabriel Valley newspaper report, as the company stated the business environment was less-than-great for them.
In a previous release, the firm said it would use the proceeds from the Rancho Cucamonga sale to help fund a new “micro mill” in Arizona. CMC bought the Rancho Cucamonga plant, along with dozens of other facilities, for $600 million in 2018 from Gerdau, a major steel producer headquartered in Brazil, the San Gabriel Valley Tribune reported.
The company continues operations in several other California cities, including in San Bernardino, San Diego and Fontana, according to its website.
- ◦Sale/Acquisition
