In The News
Load One to build HQ at Aerotropolis
Source: Crain's Detroit
In the first real estate deal this year at the government-led Detroit Region Aerotropolis site near Detroit Metropolitan Airport, a growing local logistics company plans to build a new $8 million headquarters and expanded logistics center.
Load One Transportation & Logistics LLC plans the 150,000-square-foot building in Huron Township, double the size of its current headquarters in Taylor.
The company plans to move by summer 2015; the property is 40 acres under contract for Wayne County to sell to D.T. Real Estate Investments LLC, Load One's land development arm. The county is selling the land for $851,170, according to county commission meeting minutes.
John Elliott, president and CEO of Load One, said he expects construction to begin next spring on the site at the southeast corner of Pennsylvania Road and I-275. He will move about 170 employees there. Elliott said the move is in response to a need for more square footage, parking space and warehousing facilities as his company has expanded.
"We've had, almost every year since inception (in 2003), about a 20 percent (revenue) growth rate," he said. Crain's Private 200 List published June 3 shows Load One had $68.8 million in revenue in 2012, a 22.2 percent increase from $56.3 million in 2011.
Louis Glazier is partner for D.T. Real Estate, and Elliott is the managing partner. Glazier is also the former executive vice president of business and finance for Thorn Apple Valley Inc., the Southfield-based company that filed for bankruptcy in 1999 and whose brands were bought by Tyson Foods Inc. In addition, Glazier is now principal at Franklin Advisors LLC, a Farmington Hills financial consulting firm specializing in corporate restructuring, turnaround management and business planning.
The Load One building will have office, warehouse and maintenance facilities.
Huron Township Supervisor David Glaab said he had preliminary discussions with Load One.
He added that the paving and rerouting of Wahrman Road -- currently a gravel thoroughfare from Sibley to Pennsylvania roads -- to the east of the road's current location will provide added incentive for business to come to the area by giving them access to larger parcels close to I-275. The Wayne County Road Commission project is expected to cost $4 million.
The aerotropolis, on land in Huron Township, Romulus, Taylor, Van Buren Township, Ypsilanti and Ypsilanti Township, was formed and expanded as a county-led push for economic development and logistics projects.
A nine-member board of directors and a seven-member executive committee oversee the district, and Bryce Kelley is interim administrative officer. The board consists of representatives from Wayne and Washtenaw counties; the cities of Taylor, Romulus, Belleville and Ypsilanti; and Huron, Van Buren and Ypsilanti townships. The executive committee features two representatives from Wayne County and the Wayne County Airport Authority, and one representative each from Washtenaw County, Business Leaders for Michigan and DTE Energy, Kelley said.
A reinvigorated push for the aerotropolis area began a year ago, and 2012 corporate investments included:
• A 320,000-square-foot building for Inergy Automotive Systems LLC in Huron Township on 44 acres.
• A 250,000-square-foot building for Lee Steel Corp. in Romulus.
• Brose North America Inc. moving into a vacant building in Huron Township.
• GE Aviation Group's $17 million renovation of a Van Buren Township building.
Last year, five Southeast Michigan firms were chosen to help market the area: Carlisle/Wortman Associates and Fontaine Urban Design LLC, both of Ann Arbor; Detroit-based SmithGroupJJR; Northville-based McKenna Associates; and Royal Oak-based LSL Planning Inc.
Kirk Pinho: (313) 446-0412, [email protected]. Twitter: @kirkpinhoCDB