RACER Trust Announces Sale of Flint Warehouse; More than 200 Jobs Expected

Facility to be Used by Transportation and Logistics Businesses

RACER Trust today announced it has sold the former GM Flint Warehouse to Johnston’s Enterprises, LLC, which said it plans to locate affiliates Martin Transportation Systems, Inc., and Bay Logistics Inc. in the 176,000-square-foot facility and employ about 150 drivers, 35 to 40 office workers and mechanics, and 25 warehouse staff at the facility.

“We’re very pleased to have come to terms with a buyer who will maximize the Flint Warehouse property’s potential for redevelopment and reuse,” said Elliott P. Laws, of EPLET, LLC, Administrative Trustee of RACER Trust. “The Flint Warehouse is an outstanding asset and we’re excited for it to once again be a hub of economic activity for the Flint area.”

Martin Transportation Systems, Inc., based in Byron Center, Michigan, operates 15 terminals in the United States and Canada, and employs more than 1,200 drivers, owner-operators and support staff. Its fleet includes 900 trucks and 2,000 trailers. Bay Logistics, based in Spring Lake, MI, operates 12 distribution centers in the U.S., Canada and Mexico. Richard E. Johnston is the president of both MTS and Bay.

“The features and location of the Flint Warehouse facility fit well with the goals and objectives of both MTS and Bay to continue to be a significant player in the automotive production industry,” said Mr. Johnston. “Reinvigorating this facility gives us the added pleasure of knowing that we are participating in the revitalization of the City of Flint, where we have been a vested member for many years. We are very pleased about this opportunity.” 

“This is positive news for Flint, particularly the north side. The new jobs and economic activity at the site will create even more opportunities,” Flint Mayor Dayne Walling said. “Redevelopment of former automotive properties is a top priority for the City, and Martin Transportation and Bay Logistics are key partners in this endeavor. I congratulate President Johnston and his team and thank them for their confidence in our community.”

“This is great news for the City of Flint and the region,” said Tim Herman, CEO of the Flint & Genesee Chamber of Commerce. “We’ve invested years of hard work to promote the facility and identify a new use for the building. Most recently, we’ve supported the process for getting Johnston’s Enterprises into the space. This was a real team effort in working with RACER Trust, the City and the investor.”

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. RACER is one of the largest holders of industrial property in the United States and is the largest environmental response and remediation trust in U.S. history. When the Trust was formed, it owned properties 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 Martin Transportation Systems, Inc.: Martin Transportation Systems (MTS) was founded in 1978 in Flint, MI. MTS today operates 15 terminals in the United States and Canada, and employs more than 1,200 drivers, owner-operators and support staff. Its fleet includes 900 trucks and 2,000 trailers. For more information, please visit www.mstrans.com.

About Bay Logistics Inc.: Bay Logistics is a comprehensive provider of supply chain management services including warehousing, transportation, logistics, repacking, sequencing, quality inspections, light assembly, packaging, sorting, kitting, local shuttle and inventory management. Bay Logistics’ investment in facilities, infrastructure and IT systems allows clients to focus resources on core competencies and areas of expertise. For more information, please visit www.baylogistics.com.