Former Harvester plant sold - Fort Wayne, IN - News Article Locations on Waymarking.com

The new owners of the former International Harvester truck plant complex, known more recently as International Park, said the investment firm plans to respect the property’s historic and economic significance while redeveloping it for future use.

The sale price was not provided, and was not immediately available via public record.

Phoenix Investments, in Milwaukee, announced June 28 it had purchased the 129-acre, 1.46-million-square-foot industrial property at 2701 S. Coliseum Blvd., from the Wayne Coliseum Limited Partnership.

Phoenix Executive Vice President Frank Crivello said in the announcement that the firm looks forward to working with the city of Fort Wayne and local economic development groups on the improvement of the property.

In 1983, Harvester finally shut down the truck plant, which at its peak employed about 11,000 people. By the time it closed, only about 3,000 workers remained, but the plant shutdown is still regarded as one of the most devastating economic blows the community ever endured.

For the past couple decades, the property, which has a couple dozen structures and active rail service, trailer parking and outside storage, has been used as a multitenant commercial, industrial and warehouse complex. An archived listing of the property on LoopNet, a commercial real estate listing service, showed it as 62-percent vacant.

The Harvester complex, fronted by the signature Harvester tower, was built in 1923 during an economic boom in Fort Wayne. The city’s population increased from 45,115 in 1900 to 114,946 in 1930, according to a city history. Major companies such as the Tokheim Pump Co., International Harvester, Inca Manufacturing (Phelps Dodge), Rea Magnet Wire, Capehart Phonograph Co. and Magnavox all opened in the 1920s.

The Harvester tower was designated a local historic district in 2003, which means that a design review process spelled out by city ordinance regulates proposed exterior changes.

John Adams and Steven Zacher, of Zacher Co., represented Wayne Coliseum Limited Partnership in the sale of the industrial complex.

Phoenix has a portfolio of about 11 million square feet of space in 19 states, specializing in former single-tenant industrial properties. International Park was its second acquisition in Indiana.

Type of publication: Internet Only When was the article reported?: 07/07/2016 Publication: Greater Fort Wayne Business Weekly Article Url: [Web Link] Is Registration Required?: no How widespread was the article reported?: local News Category: Business/Finance

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