Long-Vacant Carpenter Building is Purchased

January 24, 2006

The Carpenter Bus Plant, which has been vacant since 2000, has been purchased by brothers Tom and Mike Dickman. The Dickman brothers closed on the property, located along Interstate 70 on the northwest side of Richmond, Indiana, in January 2006. The final purchase price for the property which includes the plant and accompanying 90 acres was $1.5 million.

According to initial estimates, this transaction will almost immediately result in approximately 20 new jobs in Wayne County, with more coming as space in the facility is leased and businesses move in. More importantly, the city of Richmond will be freed from the financial burden associated with maintaining and trying to sell the property, a burden that has cost the city $50,000 each month.

According to Mike Dickman, a team of 20 workers will begin renovating the building, which will now be called Rose City Business Park, within 30 days of the closing date with the first tenants scheduled to move in by mid-summer 2006. According to the plans provided at the closing, the plant will be renovated into five 10,000 square-foot units. Four of these units will be leased while the fifth unit will house a thermal panel manufacturing plant which could potentially employ 100 people. In addition, Tom Dickman’s business, Dickman Appraisal Service, will also relocate to the new business park. Long-range plans include the addition of a gas station/convenience store, fast food restaurant and hotel to the property.

Richmond Mayor Sally Hutton, who attended the closing with city Controller John Kenny and Tony Foster, city director of metropolitan development, was particularly pleased with the news of the sale and the potential for new jobs that it brings. "It's a beautiful day in Richmond," Hutton declared, before adding "What it means for Richmond and this county is jobs and that's exciting."

This information has been provided by Rhett Baumgartner Commercial Real Estate to keep our clients and customers informed about our company and the Richmond, Wayne County, Indiana real estate market.