Case Studies

Being well versed in brownfield development with more than 900 acres of brownfield projects completed, none of these issues were insurmountable for Ashley. Ashley installed ventilation systems and a membrane to deal with the methane and contaminated soil, and a specially designed foundation system to eliminate the load bearing problem.

Brownfield Redevelopment: Tri-County Commerce Center

In November 2015, Ashley Capital partnered with the owners of the Hazel Park Raceway to transform a prime corner of the 120-acre racetrack, located near the I-75 and I-696 interchange, into a state-of-the-art industrial park to be known as Tri-County Commerce Center. The owners of the racetrack contributed the 36-acre northwestern corner to the joint venture and Ashley coordinated the development of the approximately 575,000 SF single-story Class A manufacturing, warehouse, and distribution facility.

While conducting due diligence, Ashley discovered that the City of Highland Park had used the site as an industrial landfill prior to the 1940s. More than 75 years later, elevated levels of methane, contaminated soil, and insufficient load bearing capacity plagued the site. Being well versed in brownfield development with more than 900 acres of brownfield projects completed, none of these issues were insurmountable for Ashley.  Ashley installed ventilation systems and a membrane to deal with the methane and contaminated soil, and a specially designed foundation system to eliminate the load bearing problem.

Ashley sought incentives from a variety of government agencies. The City of Hazel Park and Oakland County recognized early on that the redevelopment would help spur business activity on a previously underutilized brownfield site. The Michigan Department of Environmental Quality (MDEQ) provided a loan, and the City of Hazel Park, MDEQ and the Michigan Economic Development Corporation (MEDC) approved tax increment financing to provide a unique assistance package involving grant, loan, and TIF.

Construction was completed in June 2017 and the building features 117 overhead doors, a 32’ clear height, an abundant number of car/trailer spaces, ESFR sprinkler system and energy-efficient LED fixtures.  With these in-demand features, Ashley has leased 80% of the building within two months of completion with Amazon, LG Electronics, and Bridgewater Interiors as the tenants.