First Private Speculative Building Development at Kentucky Transpark Breaks Ground

Published Tuesday, April 5, 2016

Today, Dominion Commercial Assets & Stewart Richey Construction joined officials from Warren County and the City of Bowling Green, along with members of the Bowling Green Area Chamber of Commerce and the Inter-modal Transportation Authority (ITA) to celebrate the groundbreaking of Dominion North-1, the first private speculative building development at the Kentucky Transpark.

The building is scheduled to be completed in June. Once complete, the building can be customized to fit the needs of most any manufacturing and distribution user. Offices can be added internally or externally.

“Dominion North-1 is situated on 5.7 acres and is one of three buildings to be built by Dominion Commercial Assets on 19.25 acres located at the intersection of Jody Richards Boulevard & Highway 68/80. Dominion North-1 is a 60,000 square foot pre-engineered structure meeting all state and local building and energy codes as well as the American Institute of Steel Construction Standards,” reported Michael Vitale, a member of Dominion Commercial Assets.

This project, which will be approximately 180,000 to 200,000 square feet of industrial space under roof, represents a large commercial project and a significant, private investment in the Transpark by Dominion Commercial Assets. Vitale further indicated that “As this project is the first of its kind in the Transpark, and as we are already speaking with prospective tenants, we needed a partner with the experience and resources to handle this job and to meet our strict completion deadlines; so, it was natural for us to turn to Stewart Richey.”

Dominion North-1 is the first private speculative building to be constructed at the Transpark; complimenting the property development continuum for the park. It is the seventh speculative building to be built in the past seven years.

The Chamber continually works to enhance growth and opportunity in South Central Kentucky. The development at the Kentucky Transpark is just one example. By the end of June, the Transpark will have two speculative buildings available. These buildings are invaluable tools for economic development in South Central Kentucky and add to the region’s appeal for clients because of the expedited timeline from build-out to operation – saving time and money.

 The Kentucky Transpark offers tenants access to rail service and major highways and is in close proximity to Interstate 65, International Airports and the Owensboro Riverport. Access to I-65 will grow even closer with the completion of a direct connection route at the end of 2016.

“The Kentucky Transpark is a mecca of potential and opportunity in South Central Kentucky. We are fortunate to have this state-of-the-art business park in Bowling Green’s backyard and to have experienced the prosperity it has brought to our community,” stated Bowling Green Mayor Bruce Wilkerson.

Before even breaking ground on Speculative Building I in 2007, the EDA sold the structure to American Howa Kentucky. Since then, four more speculative buildings have been completed and purchased after being on the market for less than a year. TMS Automotive purchased Speculative Building V in 2015 in an effort to better serve Bowling Green clients.

Most recently, the BGAEDA broke ground on Speculative Building VI which will be completed later this spring.

“A private speculative development within our Transpark is unprecedented for the Bowling Green ITA and a welcome addition. We are pleased to be working with Dominion Commercial Assets and their general contractor, Stewart Richey,” shared Chamber President and CEO Ron Bunch. “The Kentucky Transpark is filled with potential as we move forward with property improvements – priming the Transpark for future developments and projects.”

Over the next 10 years, the Kentucky Transpark will have a $5.45 billion economic impact on the region. As of December 2015, the Transpark employed more than 1,900 full time employees and boasted annual wages of over $117,000,000.

“The location is ideal for countless business and industry in search of a new home. The success the Bowling Green Economic Development Authority has previously experienced with each of their speculative buildings tells us so,” Judge Executive Mike Buchanon stated. “This investment by Dominion Commercial Assets is a testament to the faith our community has in not only the Kentucky Transpark, but the future of Warren County.”

This is the third economic development announcement for South Central Kentucky in 2016 with $19 million in capital investment and 65 new jobs created.

For more information on the Kentucky Transpark and Dominion North-1, contact Bowling Green Area Chamber of Commerce President and CEO, Ron Bunch, CEcD at ron@bgchamber.com or (270) 781-3200.

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About Stewart Richey Construction:

Stewart Richey Construction originated as a small residential general contractor in Bowling Green in 1973. Since then they’ve grown to encompass virtually all construction trades and branched out to more commercial and industrial markets. Today, Stewart Richey has transitioned its contracting capabilities from a self-perform general contractor focus to a subcontractor role allowing them to form customized contracting groups and leverage the company’s multiple capabilities in support of owners and general contractors. In addition, Stewart Richey also offers maintenance and service options for companies and their facilities.

About the Bowling Green Area Chamber of Commerce:

Incorporated in 1935, the Bowling Green Area Chamber of Commerce is a 5-Star Accredited Chamber by the U.S. Chamber of Commerce and was named the 2009 Chamber of the Year by the American Chamber of Commerce Executives. As the fourth largest chamber in Kentucky, the Chamber serves as a premier business advocate for its more than 1,200 partners and is the driving force for economic development in South Central Kentucky. Its primary goals are to promote growth and success in the business community, reaching its small business partners and those in large industries alike. With leadership programs, governmental relations projects, educational initiatives and involvement opportunities, the Chamber aims to support the community and its neighbors in order to enhance the business climate and continue to grow the region.