Thursday, January 29, 2009

Anderson GM Plants Sold

Former GM plant sells; two others on market came from The Indianapolis Business Journal. So far, I see nothing in our Herald Bulletin about the news.

The City of Anderson recently sold one of three former General Motors plants, and officials say they’re optimistic that they’ll soon find buyers for the remaining two sites, despite the sluggish economy.

“Anderson hit bottom a long time ago,” said Diana Priser, the city’s deputy director of economic development. “We’re on our way back up.”

>Hy-Tech Machining Systems LLC purchased the former Plant No. 18, a three-story, 240,795-square-foot industrial complex at 2900 Scatterfield Road, for $425,000. The plant was originally listed at $850,000 in September.

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Willey said potential buyers continue to look at the remaining sites every week. City officials are also aggressively recruiting firms looking to expand in the Midwest, Priser said.

“The existing sites are actively being shown all the time,” she said. “We don’t expect them to be on the market much longer.”

The two sites include Plant No. 20, which housed auto-parts manufacturer Delphi until it shuttered operations in 2006, and the older Plant No. 16, a former equipment repair site. The 345,000-square-foot Plant 20 is on the market for $2.8 million, while the 168,268-square-foot Plant 16 is priced at $425,000.

The price on both properties has dropped significantly in recent months. Plant 20 was listed for $3.2 million in September, while Plant 16 was priced at $725,000.

Willey said the price reductions came as a result of the sluggish economy and the city’s desire to attract new jobs to the area.

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