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

    • Don't Drop Your Guard

      Why do you lock your home every time you leave it? Most likely, you do it to keep thieves out. Since you haven't experienced any thefts, why continue to lock up? Okay, you're probably shaking your head and thinking that I must not be all that bright. You keep locking your door because you don't want to create an opening for the thieves. Then help me understand what I've seen many companies do over the years...

    More

Events



  • Most Popular Stories

    • Bloomington Chamber Names '10 Under 40' Winners

      The Greater Bloomington Chamber of Commerce has announced the winners of the 2017 “10 Under 40 Awards.” The honors are given to professionals under the age of 40 based on their professional achievement, leadership and civic involvement efforts. 

    • BorgWarner to Break Ground on Noblesville Center

      Michigan-based BorgWarner will break ground today on a $28 million technical center in Noblesville. The 100,000 square-foot facility will consolidate the company’s existing centers in Anderson and Pendleton into one location. 

    • New Trailer Previews Columbus-Focused Movie

      A national publication has published a theatrical trailer for a Hollywood movie that was filmed in and features an Indiana city. Entertainment Weekly unveiled an exclusive preview of Columbus, which stars John Cho, Haley Lu Richardson and Parker Posey. The film focuses on a Korean-born man, played by Cho, whose father ends up in a coma and hospitalized in the Bartholomew County city. He forms a relationship women, played by Richardson, who is an expert on the local architecture.

    • Brown County Tourism Officials Propose $10M Concert Hall

      Plans for a $10.2 million indoor entertainment venue have been announced in Brown County. The Brown County Convention and Visitors Bureau and the Brown County Convention and Visitors Commission say the proposed 2,000-seat facility would be county-owned and paid for through an innkeeper's tax over 30 years. The Maple Leaf Performing Arts Center, as leaders are calling it for now, still needs town, county and local community organization and commission approval.

    • Nature Preserve Efforts at White River Bluffs Continue

      The Central Indiana Land Trust says it has completed the first phase of a $2.9 million effort to establish White River Bluffs in Marion County as a nature preserve that includes 12.2 acres along the White River. The property features some of the oldest trees in Indianapolis, including some estimated to be between 200 and 500 years-old.