NICK GOSNELL
Hutch Post
HUTCHINSON, Kan. — Hutchinson/Reno County Chamber of Commerce CEO Debra Teufel told Hutch Post that the spec building in the city's industrial park is almost sold.
"We had a company in June and yet another one in July," Teufel said. "I have been telling you there were at least two businesses looking at that building. We have now had three. The owners of the building, Salt City Investments, have drafted what I hope is the final lease for one of them. It's under review. It's not signed on the dotted line. I wish I had the news to tell you this morning, but we're getting very, very close."
The 22 acres that Salt City Investments purchased from the city is generally at the intersection of Enterprise Drive and Commerce Street, south of Siemens Gamesa.
"We toured a company around in the heat of the day one day, it was a hundred plus degree day," Teufel said. "We opened up the doors to the spec building and we stood in there in the shade, but it was not cool in the shade. We talked about the reality of their timeline and their downstream client that they would be serving. It really sounded like they might not actually need occupancy until January. The first one to sign on the dotted line is the one that's going to get the building."
The initial spec building is approximately 57,000 square feet and finished initially as a basic warehouse, with potential for expansion to 100,000 square feet if needed and rail spur access. There are plans to build more buildings.
"The investors in that building have said, just as soon as they get assurance that they have a secure tenant, they are going to build the next building. I think we can see it soon. The building's not on order yet, there's always that lead time to get the steel and everything, but the intent is that the next building would start going up shortly thereafter."
It is likely that the investment group would consider using Industrial Revenue Bonds as the financing mechanism for future construction, as well.
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