New Sites

Alabama

The Hollingsworth Cos. has developed a new industrial park near Huntsville at the intersection of Interstate 65 and Interstate 565. The park has excellent interstate access and visibility. A new 108,960-square-foot spec building is located in the new Southpoint Industrial Park. It features very high ceilings and sits on 15 acres.

Arkansas

When Union Pacific built Marion Intermodal Yard in 1998 to accommodate the railroad's expanded East-West intermodal shipping business, Marion officials immediately began the development of Railport Industrial Park near the massive intermodal terminal. Located just north of Memphis, the Railport Industrial Park consists of 2,100 acres of privately owned farmland. The city of Marion has invested several million dollars in infrastructure improvements at the park hoping to attract tenants.

Florida

Duke Realty Corp. has acquired 74 acres north of Interstate 4 and Highway 27 in Polk County, Fla., between Lakeland and Orlando. Duke plans to build three, 426,400-square-foot bulk distribution warehouse facilities on the Polk County site. The buildings will be able to accommodate large distribution users, however light manufacturing and assembly could be targeted as well.

Construction is expected to begin soon on the first building in Longleaf Business Park, a Verizon "Smart Park" slated for a 164-acre tract along U.S. Highway 27 South in Lake Wales, Fla. The park is owned by the City of Lake Wales, which has invested $3 million in roads and other infrastructure improvements. The park is expected to provide up to 1,000 jobs and add $100 million to the City of Lake Wales' tax base when fully developed. Longleaf Business Park's first building will be a $2 million, 50,000 square-foot office/warehouse facility being developed on a speculative basis.

Georgia

Southeast Investment Properties has moved on a planned 265-acre, 3.5 million-square-foot industrial park in Braselton, Ga. The project has the potential to surpass $90 million in investment. The new park will begin with a 575,000-square-foot crossdock facility. The site is located at state highway 53 and Interstate 85. The land is part of the acreage actress Kim Basinger owned prior to her bankruptcy in 1993. At the end of last year, Trammell Crow announced plans for a $70 million, 2.6 millions-square-foot park in Braselton, but no buildings on that site have gone up as of yet. Braselton is located northeast of Atlanta in the Interstate 85 corridor.

One hundred and thirty acres are being developed at the 1,500-acre Gwinnett Progress Center. The industrial park is located northeast of Atlanta off Interstate 85. Huntsville-based Triad Properties Corp. is developing the new site. Triad intends to build eight buildings totaling 1.5 million square feet of bulk industrial space on the land. Construction on the first building, a 225,000-square-foot rear-load facility, is expected to be completed this year.

North Carolina

A new 250-acre business park is being developed by Parkdale Mills. The site is located across from Parkdale's yarn mill in Salisbury, N.C. When built out, the site is expected to attract $150 million in capital investment and 1 million square feet of industrial and flex space. The park, named South Crest business park, is located on U.S. Highway 29 and has convenient access to Interstate 85. Parkdale is headquarted in Gastonia, N.C.

Crescent Resources has begun work on AirPark West, a distribution business park near Interstate 85 in Charlotte. The park will include more than 750,000 square feet of light distribution, warehouse and office space. Grading has begun on the site and the first building is expected to be completed by the end of the year.

Two new parks are underway in Gaston County. The South Ridge Business Park is located one-half mile north of Interstate 85 only minutes from the Charlotte Douglas International Airport. The park is designed for manufacturing, assembly, distribution and warehousing. The interior access road in the park has been constructed to the highest standards. The topography is gently rolling and all utilities are in place. A Norfolk Southern main line is on-site. The Gastonia Technology Park is a 380-acre site located near I-85 and U.S. Highway 321, only 20 miles east of Charlotte's airport. All utilities are on site.

South Carolina

Officials in Chester County, S.C., located just south of Charlotte, N.C., have agreed to purchase 400 acres for the development of a new high-tech industrial park. If the yet-unnamed park were filled over the next 10 years, it businesses would employ over 1,000 with a total investment of over $300 million, county officials said. The county is using $2 million it was allotted in tobacco settlement money to install infrastructure at the park. Forty-three of South Carolina's 46 counties have been given tobacco settlement funds. Most counties in South Carolina are using the funds for infrastructure improvements.

Officials in Lee County and Bishopville, S.C., have dedicated the I-20 Industrial Center located near the intersection of Highway 15 and I-20 in Bishopville. The new park has 14 industrial sites each of which is 10 to 15 acres. Lots may be joined to accommodate larger users. All utilities are in place in the park, which is located about 50 miles east of Columbia and 20 miles west of Florence, S.C.

Tennesseee

The Clarksville City Council voted to move forward on a 964-acre, $28.6 million Corporate Business Park expansion. The park is being funded jointly by the city and county. The new park borders Interstate 24 at Exit 4 and is home to 15 manufacturers employing 3,178. The expansion will provide land availability south of the current property along Interstate 24 to Exit 8. Clarksville is located about 40 miles northwest of Nashville.

Trammell Crow is breaking ground on its first distribution center in Memphis. The Dallas-based commercial real estate giant is developing Summit Distribution Center, a 2 million-square-foot, $40 million project. TC plans to build a 708,000-square-foot industrial building on 38 acres of the park in Phase I of the project.

Texas

Synergy Properties of Fort Worth plans to develop 345 acres into two industrial parks just south of the Fort Worth Alliance Airport. Ross Perot Jr.'s Hillwood company manages the city-owned airport and is the developer of the sprawling 9,600-acre industrial development around the airport known as Alliance. The two parks will be called Synergy Park East and West. Industrial buildings under 100,000 square feet are planned for the two parks.

Virginia

Midpoint Industrial Park, a new 200-acre park, midway between Richmond and Charlottesville, offers a unique opportunity for prospective users. It is located 34 miles from Charlottesville and 39 miles from Richmond. The park contains 44 lots ranging from two to 50 acres on State Route 629 that intersects I-64. The park features M-1 and M-2 zoning that allows outside storage. Per acre prices at the park are about $15,000 per acre.

West Virginia

A new business park is under development in Weirton, W.V. The Three Springs Park features 115 acres with excellent access to Route 22, Route 60, I-70 and I-79. Pittsburgh International Airport is located just 25 miles from the park.