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Read the original article on dosterconstruction.com

The industrial construction market in the southeast is projected to have immense growth over the next several years. The changes in the market are a result of ecommerce, supply chain issues, logistics strategy changes, and the development of EV auto plants. This has caused a huge demand for new manufacturing, distribution, and storage facilities near interstate and rail avenues.

The Golden Triangle which includes the I-85 corridor is projected to be the focus of industrial development in the United States because of rail connectivity, interstate corridors, growth of the Mobile port, population migration, and the shift of the supply chain.

We asked Justin Patwin, Managing Director at Farpoint Development, some questions about the current state of the industrial market. Hear what he had to say below.

What is your opinion of the industrial market today, particularly in the southeast?

“The southeast in general is still very much undersupplied with high quality industrial product given the continued demand, not to mention the influx of people moving to the southeast from other parts of the country. In areas like the Carolinas, the market is a lot tighter with the volume of activity we are seeing but in other areas, like Alabama, there’s more opportunity for future growth.”

What indicators do you look for as a company when deciding where to develop property?

“We certainly like to see where land pricing is relative to the cost of construction. We also like to see strong demand from the national brokerage community – who is in the market for space and what the leasing velocity is like for a given area. We are also looking to see what other developments are going and what does the general pipeline look like for the next 2-4 years.”

What were the key factors that drew you to Wire Road, Exit 42 in Macon County for the R.E.A.L Park?

“I think the first thing from a location perspective is the opportunity to have a large land assemblage right off I-85 stood out to us, especially knowing that there isn’t a lot of Class A space in the vicinity. From there, it was also the opportunity to create something impactful for Macon County fit well with our overall mission as a company. We like projects where we can do well for the firm and good for the community – those are win, win scenarios that don’t come around that often.”

Just within the last month, Doster has broken ground on three Alabama industrial projects for Farpoint Development, Fed Ex, and Lockheed Martin. The market trends predict that this growth will continue, and Doster has an experienced Industrial Division in place to provide preconstruction and construction services on your next project.

Read more about Doster’s expertise in Industrial Construction here.

Read the original article on WSFA.com

MACON COUNTY, Ala. (WSFA) - A groundbreaking ceremony was held Wednesday for the first phase of the Regional East Alabama Logistics (REAL) Park, to be located in Macon County.

Gov. Kay Ivey’s office said the project is expected to bring $386 million in new economic capital investment, along with more than 1,000 new direct jobs and 863 indirect jobs. Construction for the first 169,000-square foot building is set to begin within the next couple of days. The project will ultimately result in a 13-building, 5M-square foot logistics park.

R.E.A.L Park was developed from a partnership between the Macon County Economic Development Authority (MCEDA), landowners and Farpoint Development. It will encompass 683 acres at the site of Beck’s Turf Farm, located off Exit 42 on Interstate 85.

When the park’s construction is completed, it will house the only Class A warehouse/manufacturing building available for lease within a 40-mile radius, according to MADE in Alabama.

Farpoint development is already actively marketing the building to potential company tenants.

Read the original article on WSFA.com

MONTGOMERY, Ala. (WSFA) - Construction is set to begin on a logistics park in Macon County that is set to have a major economic impact on the area.

The Regional East Alabama Logistics Park, or R.E.A.L Park, is becoming a reality with the help of a partnership between Macon County Economic Development Authority (MCEDA), landowners and Farpoint Development. It will encompass 683 acres at the site of Beck’s Turf Farm off Exit 42 on Interstate 85.

The construction is expected to begin this summer. When the park’s construction is completed, it will house the only Class A warehouse/manufacturing building available for lease within a 40-mile radius, according to MADE in Alabama.

Farpoint commissioned the Center of Business and Economic Research from the University of Alabama to do an economic impact analysis that shows the project will bring $386,000,000 in new economic capital investment when fully built, and over 1,000 new direct jobs and 863 indirect jobs. Local taxes generated will be in the millions of dollars per year at full completion.

Construction is slated to be completed by the end of 2022. Farpoint development is already actively marketing the building to potential company tenants.

Read the original article on the Made in Alabama website.

TUSKEGEE, Alabama — Construction is scheduled to begin soon on the first building in a logistics park along Interstate 85 in Macon County that backers say could have a massive economic impact when its three phases are developed.

The project, called the Regional East Alabama Logistics (REAL) Park, stems from a partnership between the Macon County Economic Development Authority (MCEDA), Farpoint Development and local businessmen Jimmy and Wayne Bassett.

The park, developed by Farpoint, will encompass 683 acres at the site of Beck’s Turf Farm off Exit 42 on I-85. The project envisions around 13 buildings offering a combined 5 million square feet of space once the three phases are completed in seven to 10 years.

Construction is expected to begin this summer on the first building, a 169,000-square-foot expandable industrial commercial structure.

When construction is complete in the fourth quarter, it will be the only “Class A” warehouse/manufacturing building available for lease within a 40-mile radius.

“To have a park plan of this size, scope and partners with world-class abilities means we have a broad team working together bringing their own dollars and networks into landing projects and creating new jobs,” MCEDA Director Joe Turnham said.

“The right team, the right project in the right place and at the right time — this initial investment has the potential to be a tipping point in our community’s development for decades to come,” he added.

Economic Impact

Turnham said work on the Phase 1 building will generate construction jobs and a substantial economic impact while also creating ripple effects throughout Macon County.

The completed project could be transformational, he added.

An economic impact analysis conducted by the University of Alabama’s Center of Business & Economic Research shows the project will bring $386 million in new economic capital investment when fully built.

The project will add over 1,000 new direct jobs and 863 indirect jobs, according to the analysis, which was commissioned by Farpoint.

Farpoint, which has an office in Asheville, North Carolina, is actively marketing the Phase 1 building as an industrial facility for lease. The development will offer design-build, leaseback programs for industry throughout the site.

“We are very excited to launch the REAL Park alongside our strong local partners such as Opportunity Alabama, MCEDA, and of course the Bassett brothers,” said Justin Patwin, managing director at Farpoint.

“In many ways we think this project could become a regional catalyst for broader economic opportunities and reinforce the State of Alabama as a destination for global commerce,” he added.

Prime Location

The park is located two miles north of Tuskegee and 15 miles from Auburn. The location is less than 35 miles from the Kia auto assembly plant in West Point, Georgia and around 50 miles from the Hyundai manufacturing plant in Montgomery.

Turnham said the REAL Park development team has met with the Alabama Department of Commerce and numerous utilities as well as consultants in industrial development and believes that the development of a large logistics park will meet current market demand head on.

“REAL Park will better position Macon County to take full advantage of economic growth along the I-85 corridor,” said Greg Canfield, Secretary of the Alabama Department of Commerce.

“Having an available building onsite will kickstart the development team’s efforts to quickly capitalize on the possibilities in industries such as automotive, aerospace, forest products and manufacturing,” he added.