Industrial Park Owner Adds Former GM Lot

Posted: Updated:
(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.

  • Perspectives

    • Mitigating Your Company’s Cybersecurity Risk

      Frequently, I encounter people who think that a software developer understands all languages and can “fix” anything tech related. While that may be true for a few, areas of expertise within tech evolve as rapidly as the technology itself. For instance, there was a time (not long ago) when operating in the cloud was revolutionary. Today, it is considered best practices for some or all of an organization to function within a cloud. Managed information technology began with...

    More

Events



  • Most Popular Stories

    • (photo courtesy Dax Norton)

      Whitestown Tops Indiana's Fastest-Growing Communities

      The Indiana Business Research Center at the Indiana University Kelley School of Business says Whitestown in Boone County is Indiana's fastest-growing community for the eighth consecutive year. The center says the town's population nearly tripled, from 3,132 in 2010 to 8,627 last year. Westfield in Hamilton County is not far behind. Its population grew 5.2 percent in 2018, according to information reported by the U.S. Census Bureau. Other communities on the list include...

    • (Image courtesy of the Indiana Economic Development Corp.)

      Indy-to-Paris Flight Celebrates One Year

      One year after the first nonstop flight from Indianapolis International Airport to Paris, Airport Authority Executive Director Mario Rodriguez says the flight is "fully meeting our expectations." He says, on average, more than 1,000 passengers per week fly between Indianapolis and Paris. Delta Air Lines Flight 500 marked IND's first year-round, nonstop transatlantic air service to Europe. The airline increases the route's frequency throughout the spring, summer and fall...

    • (photo courtesy of Farmer's Fridge)

      Farmer's Fridge Expands to Indianapolis

      A Chicago-based company is looking to make fresh, healthy food as convenient in Indianapolis as a candy bar. Farmer’s Fridge has expanded to more than a dozen locations in the Indy market with its "smart fridges" the size of vending machines, which feature a variety of freshly-made products such as salads, bowls and snacks. Rachel Rischall, director of communications for Farmer's Fridge, says the food is made fresh every day and shipped to nearly 300 fridges in...

    • The Waterside project aims to transform 100-acres of the former GM Stamping Plant site. (photo courtesy of Ambrose Property Group)

      Ambrose, Glick Partner on Waterside

      Indianapolis-based Ambrose Property Group has announced a key partnership for the redevelopment of the former GM Stamping Plant in downtown Indianapolis. The commercial real estate firm is teaming up with the Gene B. Glick Co. to build and manage apartments as part of the $1.4 billion mixed-use redevelopment project. Ambrose says the partnership is also part of plans to catalyze "philanthropic and community-centric strategies to strengthen Indianapolis." The firm also...

    • Pearl will take the position on May 22

      Bloomington Launches Online Economic Development Tool

      The city of Bloomington has officially launched its new online development tool. The platform will streamline public data for current and prospective business owners and entrepreneurs.