Industrial Commercial Properties LLC (“ICP”), a Cleveland-based commercial real estate development company, has announced the acquisition of 182 acres of land in Wixom, Michigan, formerly the site of the Ford Wixom assembly plant. The seller was Boston-based Trident Barrow.
Christopher Semarjian, the owner of ICP, commented, “This is a major milestone for the continued redevelopment of this site. This market has experienced considerable growth and we are excited about the possibilities. Throughout our diligence process, we collaborated with a terrific team of local real estate professionals and City, County and State officials, so we could collectively create a comprehensive plan for the highest and best use of this location. We are looking forward to getting started.”
Ford Motors shuttered the plant in May 2007. To date, significant development has occurred on the southern end of the site, including retailers such as Menards, Aldi, General RV, At Home Goods Inc. and Duluth Trading Company.
Chris Salata, Chief Operating Officer of ICP, further added, “Given its size and incredible access and visibility to the highway, existing utility infrastructure, power capacity and exposure to rail, we believe makes this location uniquely positioned in the Greater Detroit market. The project lends itself to many uses, including manufacturing, distribution and tech office and in light of the significant amount of demolition already performed, can be ready for new construction in short order.”
Mayor Richard Ziegler states that “ICP has experience with former automotive properties in Oakland County and is uniquely ready to transform this long-vacant industrial space in Wixom. The City is eager to work with ICP to redevelop this property in a way that makes both of our organizations proud.”
