WILMINGTON, DE — Harvey Hanna & Associates and Dermody Properties have announced plans to jointly execute the large-scale redevelopment of the former General Motors (GM) plant in Wilmington.
Dermody Props. has acquired 88 acres of the 142-acre property on Boxwood Rd. for the project, which will be named LogistiCenterSM at I-95 Wilmington. Harvey Hanna will retain ownership of the remaining 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 property is located along the I-95 corridor and is set in one of the country’s most dense population bases, making it an ideal setting for distribution, fulfillment and logistics users and businesses. Offering easy access 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.