Industrial Park Owner Adds Former GM Lot

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(Image courtesy of Tower Investments LLC) Tower Investments also owns the Anderson Raceway Industrial Park property, which is the former General Motors Plant #9. (Image courtesy of Tower Investments LLC) Tower Investments also owns the Anderson Raceway Industrial Park property, which is the former General Motors Plant #9.
ANDERSON -

The owners of Raceway Industrial Park in Anderson have acquired a nearby property from the RACER Trust. The nearly 15-acre tract previously served as parking for the old General Motors facilities. Tower Anderson LLC says the property will be used to expand the park's parking and storage capacity.

The affiliate of California-based Tower Investments LLC acquired the former GM Plant #9 around 10 years ago and transformed it into the Raceway Industrial Park, which currently houses tenants such as outdoor furnishings supplier US Leisure, as well as EMT Logistics and Tractor Supply Co. The new property will be used for more tractor trailer and outdoor storage purposes.

Reliant Partners' Tom Willey, who serves as a real estate advisor to Tower Investments, said "we like the way the area is developing and believe we have a major role to play in the ongoing revitalization of the corridor off Interstate 69. We're grateful that RACER Trust saw the opportunity, as well, and that we were able to work cooperatively to achieve a beneficial outcome not just for us but for the community as well."

Years after the auto manufacturer that once employed thousands in the Madison County city pulled out, the area around the old Plant #9 is seeing increased interest. Last year, Italian-owned Sirmax North America Inc. broke ground on a facility across the street from the old GM property, pledging a more than $25 million investment and 50 jobs.

Anderson Mayor Thomas Broderick calls the company and the industrial park "terrific neighbors and corporate citizens" in the city. "I appreciate the work Raceway has done to provide jobs and tax base for the city, as well as its contributions to a sense of renewal in our community," he said.

Tower Investments has additional properties in the city and state, including Gateway Commons in Anderson, the Indianapolis Fortune Park Business Center, McCord Square in McCordsville and office buildings in Lafayette and Pendleton.

Last month, the RACER Trust, which works to clean up and remarket old GM properties left abandoned after the company's 2008 bankruptcy, announced it was putting a high-profile former GM Stamping Plant facility back up for sale in Indianapolis.

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