NORFOLK, Va. (AP) -- An Atlanta-based developer has bought the site of Ford Motor Co.'s former truck plant in Norfolk and sold part of the property to global logistics provider KTN.
Ford and Gov. Bob McDonnell announced the sale of the 100-acre property to Jacoby Development Inc. on Friday.
They say Belgium-based KTN plans to spend $12 million to acquire part of the property from Jacoby, buy equipment and refurbish a 662,000-square-foot former body shop.
The warehouse and distribution center is expected to employ 225 workers.