TRAVERSE CITY — A property east of Traverse City owned by Cherry Capital Airport (TVC) has caught the eye of an Illinois-based real estate company.
“They’re the kind of ‘build it and they will come’ kind of a company, so they’re very interested in the property here at Cherry Capital Airport’s grounds,” said Rob Hentschel, Northwest Regional Airport Authority vice chair.
The company proposed a $20-30 million technology park on the land with office, commercial and industrial spaces totaling over 200,000 square feet. Hentschel said commercial developments on TVC property are a unique aspect of the Traverse City airport.
“We’re the third busiest airport by emplacements in the state of Michigan, and we have developments like the Costco development, we have some hangars where we’re collecting rent from the properties,” said Hentschel. “You’ll see more and more of that going on as the airport develops and becomes more of an asset to Northern Michigan.”
The planned tech park will go before the Northwest Regional Airport board and the airport zoning board for approval.
