6/17/2014 DTE Energyfinalizes sale of historic Marysville Power Plant to Commercial Development Company- May27, 2014

https://dteenergy.mediaroom.com/2014-05-27-DTE-Energy-finalizes-sale-of-historic-Marysville-Power-Plant-to-Commercial-Development-Company 1/2

About DTE Energy

Careers

Community

Economic Development

Environment

Investors

News Room

DTE Energy finalizes sale of historic Marysville Power Plant to

Commercial Development Company

Phase 1 of the site cleanup to begin immediately

May 27, 2014

MARYSVILLE, Mich., May 27, 2014 /PRNewswire/ -- DTE Energy completed its sale of the

historic Marysville Power Plant to Commercial Development Company, a firm specializing

in industrial brownfield work.

The Marysville Power Plant – also known as the "Mighty Marysville" – operated from 1922

until 2001, employing as many 250 people at its peak. It was released for

decommissioning in 2011. The plant, which sits on a 20-acre site along the St. Clair River,

generated about 167 megawatts of electricity when operations ceased.

"DTE Energy has worked diligently to ensure that the sale of this important property is in

the City of Marysville's best interest for future development," said Dave Meador, DTE vice

chairman and chief administrative officer. "We are excited about the site's potential reuse

and are confident that Commercial Development Company will prepare the property to

become a vibrant part of the community."

DTE announced the preliminary agreement with Commercial Development Company in

December; the deal was finalized Friday.

Financial terms of the deal weren't disclosed.

St. Louis, Mo.-based Commercial Development Co. has completed its due diligence and

is ready to begin the first phase of the cleanup, starting on the inside of the buildings. The

company expects the site will be ready for development in about 18 months.

"We are profoundly pleased to have the opportunity to invest in the Marysville community.

We are attracted to Marysville's strong history of industry and its strategic proximity to the

St. Clair River and the U.S.-Canadian border," said Randall Jostes, CEO, Commercial
6/17/2014 DTE Energyfinalizes sale of historic Marysville Power Plant to Commercial Development Company- May27, 2014

https://dteenergy.mediaroom.com/2014-05-27-DTE-Energy-finalizes-sale-of-historic-Marysville-Power-Plant-to-Commercial-Development-Company 2/2

Email Page Print RSS

Development Company. "In the days ahead we will be meeting with city officials, the

community and other stakeholders in order to develop a vibrant roadmap concerning the

future of the site."

DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the

development and management of energy-related businesses and services nationwide. Its

operating units include DTE Electric, an electric utility serving 2.1 million customers in

Southeastern Michigan, DTE Gas, a natural gas utility serving 1.2 million customers in

Michigan and other non-utility, energy businesses focused on gas storage and pipelines,

power and industrial projects, and energy trading. Information about DTE Energy is

available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.

Commercial Development Company, Inc., headquartered in St. Louis, Mo., is a privatelyheld, diversified real estate acquisition and development firm whose principal competency

lies within the acquisition, repositioning, and redevelopment of underutilized, distressed or

environmentally challenged properties. CDC's North American acquisition and

redevelopment portfolio includes 48-million-square feet under roof located on 254 sites

throughout 39 states and Canadian provinces. Information is available at www.cdcco.com.

SOURCE DTE Energy

For further information: Randi Berris, DTE Energy, 313.235.5555; Randall Jostes,

Commercial Development Company, 314.835.1515 x106