Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

WARREN, MI-The Warren City Council has approved a tax freeze on a planned $16-million industrial redevelopment in this city. Universal Truckload Services’ plan to consolidate administrative operations at a vacant industrial site at Nine Mile and Hoover roads was hinged on the company’s request that the city freeze the assessment on a 108,000-sf building.

Warren City Council approved a Michigan Obsolete Property Rehabilitation Act tax certificate for a 12-year period–the longest term permitted by law. Auto supplier BorgWarner most recently used the 18-acre site. Before that, Holly Carburetor used the four buildings until 1987 for research and development. Universal Truckload Services selected the property over a competing site in Tampa, FL.

The OPRA tax break will apply only to the main building, which is worth slightly more than $1 million. According to officials, the land it sits on will be re-assessed like other properties and be fully taxed. The company has 140 employees at its headquarters on Stephens Road near Hoover, but has outgrown that facility, corporate representative Tom Welsman says. The firm will tear down two of the four structures at the new Warren site. Renovations are expected to be complete by 2009 in two phases, with employee relocation to be completed after the first phase.

The Michigan Economic Growth Alliance recently approved a Single Business Tax credit of more than $5.6 million over the next 10 years. That incentive, however, was contingent upon the Warren council approving an OPRA tax certificate for the company.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.