CTMT To Market 782,000-SF Facility

INDIANAPOLIS-The manufacturing plans for Getrag Transmission in Tipton, IN is being put on the market. The local office of Colliers Turley Martin Tucker has been tapped to market the 106-acre property for sale, located on the northeast cover of US 31 and Sate Road 28..

On the property is a state-of-the-art, 781,500-square-foot manufacturing plant that was built for Getrag but never occupied since the company filed for bankruptcy. The plant includes three individual buildings. The Production Building totals 572,750 square feet, while the Energy Center Building is 33,750 square feet and the Material Handling Building is 175,000 square feet. There is also an 810-car employee parking lot.

“We are honored to have been selected as the marketing representative for this unique property,” says Patrick Lindley, EVP and principal with CTMT. “And we are confident this facility will attract interest from national and international manufacturing companies. Our focus is to search out the highest and best user for the property while bringing high-quality new jobs to Tipton County and the State of Indiana.”

Lindley and CTMT colleague Luke Wessel are exclusively marketing the property.

According to reports, the plant was developed to provide Chrysler with fuel-saving dual-clutch transmissions. But the company, which was formed by Germany-based Getrag Corp. soley for this Tipton project, needed to file for bankruptcy last November after a deal between Chrysler and Getrag fell apart.

Construction on the $530 million facility, which was supposed to employee up to 1,200 workers, never completed since Getrag was unable to get the debt financing it needed to finish the project and Chrysler then pulled out of the deal.