In March, CART announced it would move its 24-year-old organization to Indianapolis by June.

"We had worked with the state to try to keep CART here in Troy, but the CART board makeup, of four members from Indianapolis, made it difficult," says Doug Smith, the city's real estate and development director in a letter to the city council.

Smith says Frank's Nursery will probably keep its headquarters on Long Lake Road in the city.

"Chief executive Steve Fishman has been considering consolidating two or three office buildings, including the headquarters on Long Lake, and has looked at a number of sites including Auburn Hills and out-of-state," Smith says.

Frank's has been fighting through bankruptcy and store closings for about two years.

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

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.