Ford Motor Co. says it has sold its Lorain, OH, assembly plant to Industrial Realty Group, a Downey, CA-based company specializing in transforming industrial sites into commercial and industrial centers.

Ford shuttered the plant last year as part of an effort to lower its North American production capacity. Prior to its closure, the Lorain plant assembled Econoline vans.

Following the shutdown, Ford says it worked closely with the city of Lorain and the state of Ohio to ensure the site would continue to serve the community.

“We are pleased that the sale of the property to IRG will result in new development that will bring tax revenue and jobs to the surrounding communities,” says Jay Gardner, vice president-Development and Strategy, Ford Land.