RACER Trust Sells Property in Romulus, Mich., for Industrial Park Development
More Than 100 Jobs Expected from First Phase of Multi-Building Project
ROMULUS, Mich. — RACER Trust today announced it has sold 69.5 acres off Ecorse Road in Romulus to Ecorse Commons LLC, which plans to develop a multi-building, multi-tenant industrial park with a focus on transportation, warehousing and distribution.
The initial phase of development is expected to include:
- $1.5 million in new infrastructure improvements
- A 416,000 square-foot Class A building suited for air cargo, logistics/distribution, freight forwarding and manufacturing users
- A 23,000-square-foot building for a user with plans to hire about 110 people.
Two other buildings also are planned for the property, which once was the site of the General Motors Romulus Engineering Center. The property is adjacent to the GM Romulus Powertrain plant.
“This property is well-positioned to capture significant investment and jobs for Romulus and Wayne County, and we’re pleased to have come to terms with a buyer who is poised to maximize its economic development potential,” said Elliott P. Laws, of EPLET, LLC, administrative trustee of RACER Trust. “RACER’s goal in all of its transactions is to work with a buyer who will help restore tax base and provide opportunities for local employment. We wish Ecorse Commons and the community success with this project.”
“This is an important project for our community, and we look forward to breaking ground and getting started,” said Steve Kalabat, the managing member of Ecorse Commons LLC. “This property is ideally suited for the type of development and reuse that we envision, and we expect it to sustain hundreds of good-paying jobs that will support local families for years to come.”
“We are excited to welcome Ecorse Commons to our home of opportunity and thank RACER Trust for working collaboratively to make it possible,” Romulus Mayor LeRoy D. Burcroff said. “This development will bring new jobs to a former industrial site and provide a boost to the surrounding area. My team and I are committed to the success of the project and we look forward to helping bring it to fruition.
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.