New Speculative Building Under Construction in Franklin
January 5, 2017 Franklin, Kentucky, by Brian Hancock, Franklin Favorite
The process of bringing another new industry to Franklin has begun. Construction began on a new speculative building in early November.
The structure, which is being built by Bowling Green-based Stewart Richey Construction, is being located on 17 acres on Page Drive in the Sanders Industrial Park. Once completed, it will include 100,000 square feet of manufacturing space and 5,000 square feet of office space.
This is the second speculative building being constructed locally. Sumitomo, which manufactures plastic injection molding for the automobile industry, moved into the first, which was built by the Franklin-Simpson Industrial Authority and Glasgow-based Alliance Corporation in the Henderson Industrial Park back in 2014. Sumitomo is currently installing equipment in the building and will begin production in the 63,000-square-foot facility next year.
“The Industrial Authority is very excited to have a new speculative building in the works,” said Industrial Authority Board Chairman Gary Broady. “We had great success with the last one, and we’re excited to have the opportunity to bring in new industrial clients again.”
Construction on the latest spec building began in early November, and the steel frame is already in place. Completion date is scheduled for March 2017.
Private funds are being used to build the structure. The Franklin-Simpson Industrial Authority is assisting in its marketing, and has made a presentation to the Kentucky Economic Development Cabinet while the Tennessee Valley Authority has designed an artist rendering. Several parties have displayed relative interest in purchasing the structure so far, according to Industrial Authority Executive Director Dennis Griffin.
“The general demand for existing buildings is high,” said Simpson County Judge/Executive Jim Henderson. “If interest can be attained at this stage, then the developer can do more custom finishing, which is good for the developer, builder and prospective client.”
The new spec building lies on 17 acres inside the Sanders Industrial Park between New Mather Metals and Toyo Automotive. With its development, the Sanders Industrial Park, which opened in 2001, is now full. Eight other industries and the Southcentral Kentucky Community and Technical College also occupy the 400-acre park, which is home to over 1,000 employees.
“We’re very happy to see this facility being built by Stewart Richey Construction,” said Griffin. “We’ve had tremendous success with speculative buildings in the past here in Franklin, and we believe this building will help attract another good manufacturer or distributing company to our community.”