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RACER Trust: Empowering America's Auto Communities

Commercial and Industrial Properties That Are Primed for Sale and Development

Former GM Property in Pontiac to be Redeveloped
7/25/2011 — PONTIAC, Mich. — A former General Motors Corp. facility in Pontiac has been sold to a Michigan firm that plans to redevelop and market the property for future redevelopment.

PONTIAC, Mich. — A former General Motors Corp. facility in Pontiac has been sold to a Michigan firm that plans to redevelop and market the property for future redevelopment.

The RACER Trust sold the property to Plant 25 LLC, an entity created for the purchase by North American Dismantling Corp., a Lapeer, Mich.-based firm specializing in dismantling large former industrial sites. Terms of the sale were not disclosed.

The Pontiac property, known as Plant 25, is an approximately 730,000-square-foot facility on E. Columbia Avenue that had served as a chassis parts and machining plant.

Read the full press release here.


RACER Sells Facilities in Ohio, Michigan
7/6/2011 — Three former General Motors Corp. properties in Ohio and Michigan have been sold in separate transactions, with each of the purchasers planning to redevelop the sites to bring new jobs and economic opportunities to their respective communities. The properties were sold by The RACER Trust, created in March by the U.S. Bankruptcy Court to clean up, position for redevelopment and sell 89 former GM locations in 14 states.

Sales by the RACER Trust set stage for
new job creation and economic growth

July 6, 2011 — Three former General Motors Corp. properties in Ohio and Michigan have been sold in separate transactions, with each of the purchasers planning to redevelop the sites to bring new jobs and economic opportunities to their respective communities.

The properties were sold by the RACER Trust, created in March by the U.S. Bankruptcy Court to clean up, position for redevelopment and sell 89 former GM locations in 14 states.

“The mission of the RACER Trust is to help revitalize America’s auto communities by bringing new jobs and economic opportunity,” said Elliott P. Laws, the court-appointed trustee of The RACER Trust. RACER stands for Revitalizing Auto Communities Environmental Response.

The properties are located in Parma and Moraine, Ohio, and Wyoming, Mich.

Click here to read the full RACER announcement.