JANESVILLE - General Motors and its hired real estate firm have identified four "qualified parties" in the ongoing effort to sell the now-defunct assembly plant in Janesville, according to city officials.
The four parties include six companies with national or global footprints. All of them specialize in some combination of acquiring and redeveloping commercial or industrial sites.
The four parties, described as "finalists" by City Manager Mark Freitag, are:
• Commercial Development Company and Environmental Liability Transfer. The former acquires and develops underutilized or environmentally challenged properties. The latter provides environmental risk management, insurance and engineering services for commercial redevelopment. Both are based in St. Louis.
• Hackman Capital Partners and Majestic Realty Company. Both are based in southern California. Hackman is an investment firm working in the real estate and equipment marketplaces. Majestic owns and develops business parks.
• Hilco Redevelopment Partners, a Chicago-based company that redevelops obsolete industrial sites.
• Industry Realty Group, a Los Angeles-based real estate and investment firm that acquires and develops commercial and industrial properties.
Freitag learned of the finalists Monday morning during a meeting with several officials from GM and CBRE, the real estate firm assisting in the sale.
Speaking shortly after the meeting, Freitag said he didn't know anything about any of the companies. He was not told what specific interest the companies have in the property or what kind of deal they've offered GM.
The GM site spans about 250 acres. The plant ceased operations in 2008 after 89 years. Its official closure wasn't announced until last fall and efforts to sell the property began in February.
The four parties include six companies with national or global footprints. All of them specialize in some combination of acquiring and redeveloping commercial or industrial sites.
The four parties, described as "finalists" by City Manager Mark Freitag, are:
• Commercial Development Company and Environmental Liability Transfer. The former acquires and develops underutilized or environmentally challenged properties. The latter provides environmental risk management, insurance and engineering services for commercial redevelopment. Both are based in St. Louis.
• Hackman Capital Partners and Majestic Realty Company. Both are based in southern California. Hackman is an investment firm working in the real estate and equipment marketplaces. Majestic owns and develops business parks.
• Hilco Redevelopment Partners, a Chicago-based company that redevelops obsolete industrial sites.
• Industry Realty Group, a Los Angeles-based real estate and investment firm that acquires and develops commercial and industrial properties.
Freitag learned of the finalists Monday morning during a meeting with several officials from GM and CBRE, the real estate firm assisting in the sale.
Speaking shortly after the meeting, Freitag said he didn't know anything about any of the companies. He was not told what specific interest the companies have in the property or what kind of deal they've offered GM.
The GM site spans about 250 acres. The plant ceased operations in 2008 after 89 years. Its official closure wasn't announced until last fall and efforts to sell the property began in February.