When All-American Bottled Water Co. acquired it in 2004 fromMiller Brewing Co. for $14 million, the property totaled 176 acresand included seven buildings totaling approximately 1 million sfincluding the historic brew house, as well as substantial waterrights. As it comes to market today, All-American is no longer theowner, the property is now closer to 136 acres, the total builtenvironment closer to 890,000 sf, and the water rights are in theprocess of being condemned by the cities of Tumwater, Lacey andOlympia.

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"We will bring this to market in pieces; there's zoning in placefor retail, office, light industrial and even multifamily," TomGorman, one of the listing brokers, tells GlobeSt.com. "The bottomline is it will get sold."

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All American Bottled Water Corp. and its president, L. EricWhetstone, purchased the property with financing provided by R.E.Loans LLC of Lafayette, CA, and Pensco Trust Co., which administersthe retirement account of Barney Ng, a principal of R.E. Loans whoalso individually loaned money to All-American, according tomultiple sources. Ng also is a principal of Bar K Inc., a privatemortgage banking company also based in Lafayette.

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Whetstone reportedly abandoned the property in June 2006, afterthe loans went into default and he was unable to refinance theasset following a story in The Olympian newspaper that brought tolight Whetstone's felony convictions related to investment schemes.Creditors forced All-American into bankruptcy court in December2006.

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The filing halted the sale while bankruptcy trustee Michael Hitttried to liquidate the property to pay off All-American'screditors, which included vendors in addition to the lenders. InFebruary, 2008, after bankruptcy trustee Michael Hitt'sunsuccessful attempt to sell the property to pay off creditors,which include vendors in addition to the lenders, a federalbankruptcy judge authorized Ng to go ahead and try to sell theproperty, according to the Olympian, prompting Ng to retainColliers International. Hitt has reportedly filed a civil suitagainst Ng claiming fraudulent and improper business practicesrelated to the loans.

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"We're still in the discovery stage, getting our arms around theasset," Troy Dana, one of the other listing brokers, tellsGlobeSt.com. "We're in the process of determining exactly how manylegally recognizable parcels there are and what their zoning is,and then developing and formalizing a marketing plan."

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