RACER Trust, AHJS Investments LLC Complete Sale, Transfer of Commercial Property in Tonawanda, N.Y.
RACER Trust today announced it has completed the sale of a 15-acre property in Tonawanda, N.Y., to AJHS Investments LLC, which intends to use it for truck parking and storage.
Approximately three acres of the property is paved. AJHS, which operates J&J Truck Wash and Repair, said it will upgrade the property with a new surface, lighting and security features.
The property is adjacent to the GM Tonawanda Powertrain facility at 2520 Kenmore Ave. in Tonawanda. The town planning board unanimously approved the planned reuse in September 2019.
“We’re very pleased to have come to terms with a local buyer who will make productive reuse of the property and create jobs,” said Elliott P. Laws, of EPLET, LLC, administrative trustee of RACER Trust. “We wish the company and the community continued success.”
“J&J Truck Wash and Repair has been a successful business for more than 25 years, and we’re excited to be moving into this new phase of growth,” said Joanne P. Schwartz, manager of AJHS.
The company said it intends to create up to 15 full-time jobs at the property. Future expansion utilizing remaining acreage at the property is possible.
“I would like to thank RACER Trust for selecting a buyer who will invest in creating new economic life for the property,” said Tonawanda Town Supervisor Joseph H. Emminger. “It’s a good day when we can find a productive re-use of these brownfield properties. Tonawanda remains an energetic manufacturing community and companies like J&J Truck Wash and Repair will provide a valuable service to industry and individual drivers.”
The property was used for vehicle parking and as a landfill when it was owned and operated by the former General Motors Corp. Though the landfill portion of the property will remain undeveloped in the near term, it is potentially suitable for additional development, subject to regulatory review and approval.
About RACER Trust: RACER (Revitalizing Auto Communities Environmental Response) Trust was created to clean up and position for redevelopment properties and other facilities owned by the former General Motors Corp. before its 2009 bankruptcy. When it was formed in 2011, RACER was one of the largest holders of industrial property in the United States and was the largest environmental response and remediation trust in U.S. history. Its initial property holdings were at 89 locations in 14 states, principally in the Midwest and Northeast. The Trust was created by a settlement agreement in the U.S. Bankruptcy Court between the U.S. Government, the 14 states where the former GM properties are located, and the St. Regis Mohawk Tribe, which owns land adjoining one of the properties in Upstate New York. For more information, please visit our website: www.racertrust.org.
About J&J Truck Wash and Repair: J&J Truck Wash and Repair, a woman-owned business, was founded in January 1995. It has two locations in Western New York and offers a variety of cleaning and maintenance services for trucks, including trailer washouts, truck and trailer upkeep and repairs, chrome accessories and parking.