Ecclestone had dropped two plans for the property, one in the late 1980s for a $40-million hotel, theater, restaurant and office complex, and a plan in 1997 to spend $250 million to build a new baseball stadium for the Detroit Tigers, a casino and other entertainment uses, called Metro World Centre.

The Tigers opened their new Comerica Park in 2000 in Downtown Detroit. William Eisenberg from Grand Sakwa says the company is still in due diligence for the property.

"I don't see there being any problems," he tells GlobeSt.com. The company plans to own the parcel soon, in one to three months, he adds. "We want to use the property for corporate headquarters, high technology and research and development facilities."

The land is on Vining Road, across from the airport. It's adjacent to the current Nemer Group's $120-million development on 80 acres, where the company plans to build a hotel and office, retail and research and development space.

"It's really a wonderful piece of property," Eisenberg says of the 568 acres. "It's very strategically located. Romulus and Huron Township are going to very important soon with the expansion of the airport, activity will be up down the road."

The airport will see the December opening of the new Midfield Terminal, being built for Northwest Airlines. The airline is adding 99 gates at its new 1-million-sf terminal.