Jetplex adding four new properties

Park director cites BRAC moves for new developments

Sunday, February 04, 2007

By MARIAN ACCARDI

Times Business Writer, marian.accardi@htimes.com

The new year is already shaping up to be a busy one for Jetplex Industrial Park, the 4,000-acre park that wraps around Huntsville International Airport.

"Timing is everything," said park Director Brooks Kracke, explaining the activity at the park. "We've had a dry spell, but BRAC has put Huntsville on a lot of people's radar."

In 2005, the Base Realignment and Closure Commission recommended three military commands and aviation work be moved to Redstone Arsenal - moves that are expected to bring about 4,700 federal jobs to the arsenal over the next few years.

The BRAC decision has helped developers and real estate professionals feel more confident about moving ahead with projects, Kracke said.

A ribbon-cutting ceremony is scheduled for Tuesday for a 208,000-square-foot speculative distribution center in the northern part of the park between Interstate 565 and Short Pike Road. The developer and owner is Graham & Co. Inc., a Birmingham-based commercial real estate and development firm.

The company also has an option on an additional 49 acres for second and third phases, said Kracke.

The sale of 18.7 acres on James Record Road, also in Jetplex North, to Huntsville-based Triad Acquisitions Group should close in the next few months. Triad's development project includes a 146,000-square-foot speculative warehouse distribution center and a two-story office building.

There was a lack of large space available in the park in the 50,000-square-foot to 100,000-square-foot range. "We now have something to market," said Kracke. "This gives us a good inventory."

Yet another project ahead is a 300,000-square-foot plant for International Truck and Engine Corp., the principal operating subsidiary of Navistar International Corp.

More than 175 employees are expected to work at the assembly plant, where Class 8 truck "big-bore" diesel engines will be produced.

A sales agreement with the diesel-engine maker to buy about 33 acres, also in Jetplex North, is being worked out. Site preparation work is expected to start early this month, and could take from two to three months, depending on the weather, Kracke said.

"They want to have production rollout in April '08," said Kracke.

International's existing plant in the industrial park - International Diesel of Alabama - produces engines for International trucks and Ford trucks and vans.

The park is divided into six sections that meet different business requirements.

In Jetplex Supplier Park, Industrial Properties of the South is building a 42,000-square-foot warehouse distribution building that will be ready in the spring, said Kracke. That partnership - made up of Charlene Graham and Dr. Jerry Graham - has just closed on the purchase of the former Perfect Home building. The 119,000-square-foot building is being renovated.

Sales contracts are now being drafted for two separate developers who want to build warehouse distribution buildings in Jetplex Supplier Park.

Kracke is also working with several companies already located in the park that are looking to expand. "We've also made the short list on two other brand-new projects," he said, and representatives from those two aerospace companies will be visiting here this month and in March.

About 2,800 acres of land are still available for development, said Kracke, with most of it in Jetplex South.



Jetplex adding four new properties Park director cites BRAC moves for new developments Sunday, February 04, 2007 By MARIAN ACCARDI Times Business Writer, marian.accardi@htimes.com The new year is already shaping up to be a busy one for Jetplex Industrial Park, the 4,000-acre park that wraps around Huntsville International Airport. "Timing is everything," said park Director Brooks Kracke, explaining the activity at the park. "We've had a dry spell, but BRAC has put Huntsville on a lot of people's radar." In 2005, the Base Realignment and Closure Commission recommended three military commands and aviation work be moved to Redstone Arsenal - moves that are expected to bring about 4,700 federal jobs to the arsenal over the next few years. The BRAC decision has helped developers and real estate professionals feel more confident about moving ahead with projects, Kracke said. A ribbon-cutting ceremony is scheduled for Tuesday for a 208,000-square-foot speculative distribution center in the northern part of the park between Interstate 565 and Short Pike Road. The developer and owner is Graham & Co. Inc., a Birmingham-based commercial real estate and development firm. The company also has an option on an additional 49 acres for second and third phases, said Kracke. The sale of 18.7 acres on James Record Road, also in Jetplex North, to Huntsville-based Triad Acquisitions Group should close in the next few months. Triad's development project includes a 146,000-square-foot speculative warehouse distribution center and a two-story office building. There was a lack of large space available in the park in the 50,000-square-foot to 100,000-square-foot range. "We now have something to market," said Kracke. "This gives us a good inventory." Yet another project ahead is a 300,000-square-foot plant for International Truck and Engine Corp., the principal operating subsidiary of Navistar International Corp. More than 175 employees are expected to work at the assembly plant, where Class 8 truck "big-bore" diesel engines will be produced. A sales agreement with the diesel-engine maker to buy about 33 acres, also in Jetplex North, is being worked out. Site preparation work is expected to start early this month, and could take from two to three months, depending on the weather, Kracke said. "They want to have production rollout in April '08," said Kracke. International's existing plant in the industrial park - International Diesel of Alabama - produces engines for International trucks and Ford trucks and vans. The park is divided into six sections that meet different business requirements. In Jetplex Supplier Park, Industrial Properties of the South is building a 42,000-square-foot warehouse distribution building that will be ready in the spring, said Kracke. That partnership - made up of Charlene Graham and Dr. Jerry Graham - has just closed on the purchase of the former Perfect Home building. The 119,000-square-foot building is being renovated. Sales contracts are now being drafted for two separate developers who want to build warehouse distribution buildings in Jetplex Supplier Park. Kracke is also working with several companies already located in the park that are looking to expand. "We've also made the short list on two other brand-new projects," he said, and representatives from those two aerospace companies will be visiting here this month and in March. About 2,800 acres of land are still available for development, said Kracke, with most of it in Jetplex South. © 2007 The Huntsville Times © 2007 al.com All Rights Reserved.