Real Estate Journal — December 13 - 26, 2019 — 3A
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M id A tlantic
M id A tlantic R eal E state J ournal Jointly execute redevelopment with Dermody Properties Harvey Hanna announce plans for former GM plant redevelopment
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impressed by its nearly limit- less potential,” said Preston. “Between its strategic location along the I-95 corridor, proxim- ity to a coveted deepwater port in the Port of Wilmington, and history as a nucleus for DE’s economy, it represents an ideal asset for today’s boom- ing e-commerce and logistics industries. We are excited to be working with Harvey Hanna to contribute meaningfully to this region’s vitality.” The two companies have worked together over the past year to refine the project’s re- development plans to convert
the former GM plant into a modern logistics campus that will attract world class com- panies, in turn creating qual- ity jobs in the local economy. The redevelopment pro- gram calls for the complete demolition of all dormant buildings on the former plant property. The campus will be constructed in phases, with additional green space, traffic and pedestrian im- provements, improved storm water management and new landscaping buffers added to the new class A business and distribution campus.
ILMINGTON, DE — Harvey Hanna & Associates and
D e r m o d y P r o p e r - t i e s h a v e announc ed p l a n s t o j o i nt l y ex - e c u t e t h e large - scal e r e d e v e l o p - ment of the former General Motors (GM) plant in Wilmington. Dermody Props. has acquired 88 acres of the 142-acre prop- erty on Boxwood Rd. for the project, which will be named LogistiCenterSM at I-95 Wilm- ington. Harvey Hanna will retain ownership of the remain- ing 54 acres. The former home of a GM automotive plant, the 142-acre Boxwood Rd. property has sat dormant since General Motors’ Bankruptcy in 2009. The prop- erty is located along the I-95 corridor and is set in one of the country’s most dense popula- tion bases, making it an ideal setting for distribution, fulfill- ment and logistics users and businesses. Offering easy ac- cess to major markets including Philadelphia, NYC, Baltimore, Washington, DC and many of the major Canadian markets, the property is a springboard to multiple major U.S. highways, including I-95, I-295 and I-495. Dermody Properties will remain in close coordination with Harvey Hanna through the duration of the redevelop- ment process. “Harvey Hanna’s ultimate goal for the former GM plant property has always been about one thing – returning long-term, sustainable jobs to Wilmington and New Castle County,” said Thomas Hanna , president of Harvey Hanna & Associates. “By working with a respected, experienced and best-in-class national devel- oper like Dermody Props., we are ensuring that a truly first- class business and distribution campus will rise in its place. Most importantly, with this arrangement with Dermody Properties, we are dramatically accelerating the timeline at this site towards delivering jobs and creating a new economic en- gine for Delaware. New Castle County is open for business.” “After learning about Harvey Hanna’s plans for the former Boxwood plant property, Der- mody Props. was immediately Thomas Hanna
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