WIXOM (WWJ/AP) – More than 200 acres at Ford Motor Co.’s former Wixom Assembly Plant have been sold.

The Dearborn-based automaker said Trident Barrow Management, a unit of Barrow Development, has bought 239 acres of the property northwest of Detroit. The selling price was not disclosed.

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Demolition on the site is slated to start by the end of March.

Under Wixom’s newly created Planned Unit Development District, the property’s new owners have the flexibility to develop a range of different property uses, including manufacturing, research and development, office and limited retail.

“Our goal is to make this property an asset with long-term value,” Brian Wilson, Barrow co-founder, said in a statement. “Although it’s too early to determine future plans for the site, we will collaborate with both the city and the community when planning for future development.”

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Ford continues to demolish structures on its retained 45 acres of the site, located on the corner of I-96 and Wixom Road, under a separate sales contract. Ford is reportedly in talks with home improvement retailer Menards, which has allegedly expressed interest to purchase some of the land.

Production at the Wixom plant stopped in 2007 after a half-century in operation. The Lincoln Continental, Town Car, Ford Thunderbird and Ford GT were some of the vehicles made at the plant.

Wixom Assembly once comprised 4.7 million square feet and included 15 miles of assembly line. The plant employed more than of 5,400 workers at its peak in the 1970s.

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