Tag Archives: Franklin Partners

Lead marketer for Site 36 purchases 74 acres of the property

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It was announced that a large portion of the former GM Fisher Body stamping plant has been sold to Franklin Partners LLC. (WKTV)

By Joanne Bailey-Boorsma
joanne@wktv.org

Mayor Jack Poll hinted at it in his Feb. 7 State of the City address and today, Franklin Partners LLC made it official: Site 36 has been sold.

Franklin Partners, which is based in Grand Rapids and Oak Brook, Ill, has purchased a large portion of the site, 74 of the approximate 92 acres, from the City of Wyoming. The purchase became official at the end of February.

“Wyoming thriving business community continues to grow as well,” Poll said in his Feb. 7 address. “Nicole Hofert, director of planning and economic development has lead serval exciting initiatives.”

One of those initiatives has been the sale of Site 36, located at 300 36th St. SW, just east of Clay Avenue on 36th Street with an eastern border of Buchanan Avenue. The property has been vacant since 2009, when General Motors closed its stamping plant.

“The developer hopes to be announcing businesses that will be coming to Wyoming in the coming weeks,” Poll said.

City staff indicated the city has retained the northern portion of the site which includes the former parking lot which is separated from the main property by 36th Street. This is where Godwin Heights Public Schools recently added its new athletic entrance which was completed last year.

Franklin Partners, which has been the main marketer for the property, said in a news release that the firm is looking to build manufacturing plants on the site, ranging in size from 150,000 square feet to more than one million square feet. City officials stated that the site will be broken into four or five parcels for development.

 

The former GM plant, which started as the GM Fisher Body stamping plant, also known in its early days as Plant No. 1, was built in 1936 on the former site and helped to push the construction of much of the city’s infrastructure. At one point, more than 2,000 people were employed at the plant. After 72 years of operation, GM decided to close the plant in 2009 citing the plant was too far away from GM assembly plants, driving up shipping and related costs.

 

The site was cleared of the two-million-square-foot plant a few years after the plant closing, but much of the infrastructure was retained including onsite utilities and the railway. The proximity of the site to US 131 is another added bonus.

“The day has been a long time coming, and we appreciate the confidence and faith Don (Shoemaker) and his team Franklin Partners have shown in Wyoming, in manufacturing and in our greater West Michigan community,” Wyoming City Manager Curtis Hold said in a statement. “We have long recognized what a jewel this property is – and what tremendous potential it has to attract manufacturers looking for a place to expand or consolidate operations.”

City goals unchanged as Wyoming Site36 project gains new partner

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The mostly empty Site36 industrial area off 36th Street SW in Wyoming, from the marketing material of Franklin Partners. (Supplied)

By K.D. Norris

ken@wktv.org

 

Late last year, the City of Wyoming signed an agreement with Franklin Partners, based in the Chicago area but with an office in Grand Rapids, to ramp-up redevelopment of an abandoned General Motors metal stamping plant, the Site36 industrial area off 36th Street SW just east of Highway 131.

 

One of the possible layouts of Site36 site off 36th Street SW in Wyoming, from the marketing material of Franklin Partners. (Supplied)

While the company is pushing forward with a marketing campaign, including drawings depicting multiple possible industrial uses and building layouts for possible sales or lease of portions of the about 92-acre property, Wyoming City Manager Curtis Holt says the city’s goals have not changed — they want the land redeveloped into industrial uses to take advantage of already in-place infrastructure.

 

The city also continues to be motivated to work with businesses looking at the site, including tax incentives and other actions.

 

Wyoming City Manager Curtis Holt. (WKTV

“We are not looking for leasing options; we are looking for sales,” Holt said this week. “That doesn’t mean the Franklin Partners will not offer that as an option with them holding ownership of a particular site. The purpose of the marketing material is more about showing people what is possible and opening potential owners eyes to ideas that they may not have considered.”

 

Also according to Franklin Partners marketing materials, “The City of Wyoming is motivated to attract new jobs and can offer significant state and local tax incentives to attract large users to the site. … The City has also indicated that it is willing to provide an industrial facilities tax abatement (IFT) for future industrial development. This allows for a nearly 50% abatement of future property taxes on new buildings for up to twelve (12) years. The existence of both a brownfield plan and the City’s expressed willingness to work with future owners/tenants on these and other incentives sets this site apart from others.”

 

Holt says the incentives are also nothing new, as far as the city’s efforts to redevelop the site.

 

“This city has a track record of being very supportive of our business community,” Holt said. “We all have maintained the same principles about Site 36 from the very beginning. Our main goal is jobs, specifically quality jobs available to our residents. With jobs, other indirect benefits will be realized by the city.”

 

The site, with about 80 acres of  “contiguous, shovel ready, manufacturing infrastructure,” according to Franklin Partners, is between Clay and Buchanan avenues south of 36th. According to multiple sources, it was purchased by the city’s Brownfield Redevelopment Authority in 2010, after GM closed the plant in 2006 ending nearly 70 years of operation.

 

According to Holt, the City Council has had no additional discussion with Franklin Partners “since the agreement was executed to work with them as the developer of the site,” but “I know that Franklin Partners is continuing to work on marketing, site preparation and generating potential contacts as they begin to market the site.”

 

Franklin reportedly plans to remove a pedestrian bridge over 36th Street, built to connect the GM plant to a parking lot north of 36th Street, as well as to clean up the site after years of accumulated undergrowth and debris.

 

One of the possible layouts of Site36 site off 36th Street SW in Wyoming, from the marketing material of Franklin Partners. (Supplied)

According to Franklin Partners marketing materials, the site — in addition to its access to US-131 and the Grand Elk Railroad yard — has its own Consumers Energy sub-station with up to 41 megawatt of dedicated power at T-1 rates, and can accommodate new facilities from 100,000 square feet up to 1,000,000 square feet. High-pressure natural gas and municipal water and sewer are also available on-site.

 

The city had been working with local entries The Right Place and NAI Wisinski, but, after being on the market for about four years, leaders expect that bringing Franklin Partners into the mix will get the effort moving once again.

 

“Franklin Partners’ history and reputation in West Michigan are very good,” Holt said. “We have worked with Franklin Partners on several projects and found them to be professional, knowledgeable and well connected. They have experience working with us and the projects we have worked together on have been extremely successful. We believe that relationship will assist us in redevelopment of the site.”