Amherst joins forces with The Hollingsworth Cos. to develop industrial land in park
- March 21, 2012
The town and county of Amherst have joined forces with the The Hollingsworth Cos. to market and develop several large industrial parcels in the 150-acre L. Barnes Brockman Sr. Business & Industrial Park. Chip Sisk, industrial real estate director for the Mocksville, N.C.-based company, said it will begin work immediately on the design and permits for a 100,000-square-foot industrial building that would be suitable for either logistics or an advanced manufacturing operation
“We’re hoping to find a build to suit,” Sisk said in an interview. Altogether, the company plans to spend about $200,000 during the design phase, with about $75,000 going for design and permits, and the balance used to market the site. “It’s a big commitment on our part, but we didn’t want to put up a spec building,” he said. He added Hollingsworth could be in a position to move a tenant into the building in six months.
Amherst’s industrial park already has water, sewer, and high-speed broadband infrastructure. Its location is good, added Sisk. “Its proximity to one of the highest quality workforces in the Southeast should command serious attention from relocating and expanding companies.” Sisk was referring to the cities of Charlottesville, to the north of Amherst, and Lynchburg to the south, which are home to the University of Virginia and Liberty University, respectively. Sweet Briar College also is located in Amherst County.
Typically, Hollingsworth provides cash from its own sources to finance construction and takes an equity position in the business for which a building is being constructed.
The company has developed or acquired 15 million square feet of industrial space in the Southeast, including more than 1.5 million square feet in Virginia. That includes 1 million square feet in Prince George County near the new Rolls Royce factory and 227,000 square feet in Dinwidde County.