RAV Properties Named Winner of RACER’s Edge Award

Award is for Owner Partnership in the Environmental Management of the Salina Industrial PowerPark near Syracuse, N.Y.

DETROIT — RACER Trust today announced the selection of RAV Properties of Syracuse, N.Y., for a 2023 RACER’s Edge Award, in recognition of its support in the environmental management of the Salina Industrial PowerPark.

Elliott P. Laws, of EPLET, LLC, administrative trustee of RACER Trust, presented the award Tuesday to Robert Lieberman, the managing partner of RAV Properties, during a ceremony at Huntington Place, host of the 2023 National Brownfields Training Conference.

RAV Properties purchased the Salina Industrial PowerPark — a multi-tenant, indoor industrial park — from RACER Trust in 2020. Since then, RAV Properties has made several improvements to the property and increased occupancy, creating new jobs and opportunities in the community. In addition, RAV Properties has facilitated access for RACER Trust to carry out its ongoing environmental obligations at the property, activities that are protective of the building’s occupants and the environment.

RobertLieberman.jpgRobert Lieberman speaking after accepting a RACER’s Edge Award.

“RACER Trust’s environmental obligations often continue even after a property has changed hands. We rely on cooperative owners to help us carry out this mission, which we understand can be an inconvenience to operations, and we deeply appreciate the efforts of Robert and RAV Properties to facilitate the access we need to do our jobs,” Mr. Laws said. “RAV Properties is an exemplary owner in every way, from its investments in improving the property to increasing occupancy and opportunities for the people of Central New York. Their commitment to quality is evident. We are delighted to offer Robert and his team this well-deserved recognition.”

“RAV Properties is honored to have been selected by RACER Trust to have become the succeeding owner of Salina Industrial PowerPark,” Mr. Lieberman said.  “We identified this property for its size, appropriateness for our portfolio and the potential it offers this community. We employed systematic approaches to strengthen the tenant base, correct deferred maintenance, enhance the physical property and demonstrate our commitment of executing one project following another. In less than three years we have exceeded every metric, every promise, while prioritizing our promise to RACER in support of their work. This property is truly a gem and is now starting to shine.”

ElliottLaws-RobertLieberman.jpgElliott Laws, Administrative Trustee, RACER Trust (left); Robert Lieberman, managing partner, RAV Properties (right).

RACER Trust presents RACER’s Edge Awards to individuals and organizations in recognition of their successful redevelopment of former RACER properties or their support in helping RACER achieve its remediation and redevelopment mission in RACER communities.

In addition to RAV Properties, this year’s winners were the American Center for Mobility in Ypsilanti Township, Mich.; M1 Concourse in Pontiac, Mich.; and the City of Flint and the Flint & Genesee Economic Alliance.

Past winners of RACER’s Edge Awards include Ashley Capital (redevelopment in Livonia, Mich.); AUCH Construction (Pontiac, Mich.); Lear Corporation (Flint, Mich.), Sirmax (Anderson, Ind.) and Ameresco (Danville, Ill.)

RACER Trust's environmental cleanup and the redevelopment by buyers and end users of its former General Motors Corp. (GM) properties have had a significant, positive impact on the regional economies which were hurt by the GM bankruptcy. Investments by RACER Trust’s buyers and end users have generated annual, recurring impacts of more than 59,600 jobs, $4.5 billion in labor income and $16.4 billion in regional economic output, creating new opportunities and revenue for communities.

About RACER Trust: The Revitalizing Auto Communities Environmental Response (RACER) Trust was created in March 2011 by the U.S. Bankruptcy Court to clean up and position for redevelopment the properties abandoned by General Motors Corp. in its 2009 bankruptcy. At its effective date, RACER Trust’s real property portfolio consisted of 336 tax parcels; 34 million square feet in 167 buildings; and 6,776 acres of land at 83 locations in 14 states. When it was formed, RACER was one of the largest holders of industrial properties in the United States, and the largest environmental response trust in U.S. history. Since then, RACER has completed more than 90 property sales and achieved a no further action status or similar regulatory closure for more than 50 components of cleanups. Investments by RACER Trust’s buyers and end users have generated annual, recurring impacts of more than 59,600 permanent FTEs, $4.5 billion in labor income and $16.4 billion in regional economic output, creating new opportunities and revenue for RACER’s communities. For more information, please visit racertrust.org.

About RAV Properties: RAV Properties was formed in 2009 in Central New York to manage only the properties it owns. The partners’ collective experience as investors and managers spans over 100 years. The partners believe Central New York is the prime location for commerce because of its reasonable cost of occupancy, proximity to major populations in the Northeast and the synergy of an educated workforce. Located in Syracuse, N.Y., RAV’s largest employer tenants are in education and healthcare. For more information, please visit ravproperties.com.