Michigan, Oct. 4, 2004
Rajinder Singh
Telkite Inc., a real estate investment firm, founded by New Jersey-based
entrepreneur Subrat Patnaik recently closed the deal, one of the largest
undertaken by the Indian-American community in the US. The financial
details of the deal have not yet been released. Patnaik and Raj K.
Patel, an investment banker and owner of Alpha Capital, said in exclusive
interviews that they hoped to develop the land into a full-fledged
technology park with a market capitalisation of more than $250 million.
B3 Computers recently moved its corporate headquarters from San
Diego, California to Telkite Technology Park, as did Silver Field
Biometrics. The group plans to complement the Sawyer project with
a similar technology park in India.
Telkite Technology Park at Sawyer International (Renaissance Zone)
Gwinn, Michigan
Telkite Technology Park (TTP) is comprised of 1.5 million square
feet of high-tech office space, industrial, aviation and warehouse.
Approximately 1500 acres of developable property exists. The master
plan for the raw acreage includes mixed-used commercial, a housing
development adjacent to an 18-hole golf course and a factory outlet/destination
shopping center.
The project is home to B3 Computers, Inc., a computer manufacturer;
Telkite Technologies, Inc., an international software/hardware design
firm, American Communications Network, Inc., an international reseller
of telecommunications and utilities; AMR Eagle, an aircraft maintenance
facility; Delphi Automotive, an automotive parts testing facility;
Louisiana-Pacific Corp., an international corporation producing dimensional
lumber from a high-tech sawmill; Superior Extrusion, an aluminum extrusion
company.
Formerly the K.I. Sawyer Air Force Base, TTP is home to Sawyer International
Airport a 12,300 ft runway with FAA contract control towers and is
serviced by Midwest, American and Northwest. Canadian National rail
runs the length of the site and connects to two deep-water ports.
An 18-hole golf course; YMCA health and fitness facility; and many
other amenities exist. In addition to being a Michigan Tax-Free Renaissance
Zone, the park is SBA Hub Zone qualified, qualifies for New Market
Tax Credits, is CRA qualified and has brownfield sites available.