Harvey, Hanna & Associates, Inc. (HHA) Wednesday completed the acquisition of the former General Motors Automobile Assembly plant at 801 Boxwood Road, near Newport.
Boxwood Industrial Park, LLC, an affiliate company of Harvey, Hanna & Associates, Inc., acquired the 142-acre site from Wanxiang America Inc., which includes in excess of three million square feet of former automobile manufacturing space.
Built in 1946, the site served as the former General Motors Assembly plant until the site closed in July 2009. It was to have been the site of a Fisker assembly plant. Fisker went bankrupt with Wanxiang acquiring assets, which included the Boxwood site.
Wanxiang is now building a hybrid luxury car that was updated from Fisker’s one car, The Karma.
Redevelopment plans will be announced in the future as Harvey, Hanna continues to formulate its strategy for the property.
HHA is planning future public meetings and local events to establish a communications platform directly with the community to keep all stakeholders informed of major milestones associated with the site redevelopment. M&T Bank is assisting with the financing of the property.
“We are excited to bring our vision to reality over the next few years at Boxwood Road,” said E. Thomas Harvey, III, CEO, HHA. “We are confident our vision for this site will create thousands of jobs during construction and thousands more well-paying permanent jobs.”
Harvey Hanna has experience in industrial redevelopment as evidenced by its work at the Twin Spans Business Park, New Castle.
Similar in scale to the GM Boxwood facility, Twin Spans Business Park is a 135 acre, two million square feet Class A commercial warehouse, distribution, and office campus.
Formerly a manufacturing facility operated by Chicago Bridge & Iron, the Twin Spans campus is today 100 percent leased and employs more than 1,000 people.
“We are proud to be in a position to help attract quality companies and jobs to Delaware,” said Thomas J. Hanna, president, HHA. “This is a rare availability of centrally located property within our region and offers compelling value to a wide array of prospective tenants.”
Harvey Hanna also announced several promotions as it launches work on the site.
- Thomas J. Hanna as President
- Michael B. Kinnard as Executive Vice President & General Counsel
- John Harvey as President of Big Box Buildings, an HHA start up affiliate construction firm
- William Harvey as Vice President of Property Management
- M. William Lower as Vice President of Environmental and Governmental Affairs
- Ryan Kennedy as Vice President of Marketing
Thomas Harvey, III, CEO of HHA, stated that “these promotions will prepare our company for the growth opportunities that lie ahead, particularly the redevelopment of the former GM Boxwood Road facility; we are proud of our talented team.”
Harvey, Hanna & Associates is a full-service commercial real estate redevelopment company with 5.2 million square feet of commercial, retail, hotel and industrial real estate in Delaware.