Three sites in the Lansing, Michigan area will finally be on their way to redevelopment as The Detroit News reports they have officially been sold off to a new owner. The three sites are former property of General Motors but did not emerge as part of the company following the automaker’s 2009 bankruptcy filing.
Since then, The Revitalizing Auto Communities Environmental Response (RACER) Trust has been managing the three sites and looking for prospective buyers. RACER officially entered agreements with NorthPoint Development for the sale and redevelopment of the land, which totals 260 acres.
NorthPoint plans to turn the industrial properties into new manufacturing, distribution and warehouse facilities, mostly for automotive suppliers to take advantage of.
“We’ve long recognized the potential of these properties for redevelopment and reuse and we look forward to working with community partners and industrial users who can benefit from the strong infrastructure, logistics advantages and strong workforce the area has to offer,” said NorthPoint Development COO and President Chad Meyer in a statement.
Regarding financial numbers, the figures have not been released as of this report.