Harvey, Hanna & Associates purchased the 142-acre former GM Boxwood Road assembly plant site from Wanxiang America Inc. yesterday.
The price was not disclosed.
The site includes more than 3 million square feet of space that was automobile manufacturing space until the plant closed in 2009,
The site was purchased by Boxwood Industrial Park, an LLC of Harvey, Hanna. Harvey Hanna did not announce plans for the property, but, according to a press release, the company plans public meetings to keep community members informed.
Financing is through M&T Bank.
“We are excited to bring our vision to reality over the next few years at Boxwood Road,” said CEO E. Thomas Harvey III. “We are confident our vision for this site will create thousands of jobs during construction and thousands more well-paying permanent jobs.”
Harvey Hanna redeveloped the 135-acre Twin Spans Business Park in New Castle, a property of similar scale, turning the old Chicago Bridge & Iron site into 2 million square feet of fully leased Class A commercial warehouses, distribution centers and offices where more than 1,000 people are employed.
“We are proud to be in a position to help attract quality companies and jobs to Delaware,” said President Thomas J. Hanna. “This is a rare availability of centrally located property within our region and offers compelling value to a wide array of prospective tenants.”