BOWLING GREEN, KY. – February 4, 2021 – Officials from the Inter-Modal Transportation Authority (ITA) and Dominion Commercial Assets celebrate the closing of a land purchase agreement that will serve as the location for multiple private speculative buildings. The first will be the Dominion IV Speculative Building in the Kentucky Transpark.
The Dominion IV Speculative Building, with construction to commence in February of 2021, will be the largest private speculative building constructed in the Kentucky Transpark at 125,000 SF. The land was purchased by local developer Dominion Commercial Assets, LLC. and will be built during a time where sizable modern manufacturing space of this caliber is limited in the Warren County area. Adding flexible speculative building configurations with expansion capabilities will undoubtedly further our region’s economic development success. The site will accommodate both the Dominion IV Speculative Building and the Dominion V Speculative Building.
“South Central Kentucky offers a nationally competitive location for companies considering an expansion or new location. This type of building provides companies with a facility that can be in operation quickly, while still allowing for the space to be modified to fit their unique needs,” stated Gary Dillard, ITA Chairman. “We are proud to work with our private sector once again and to be a catalyst in the continuous record-setting development in the Kentucky Transpark.”
This will be the fourth privately constructed facility built in the Kentucky Transpark by Dominion Commercial Assets group, with completion of the building expected in the fall of 2021. A fifth building by Dominion of equal size will immediately follow. Dominion Commercial Assets’ previous three buildings in the Kentucky Transpark were either sold or leased within one year of building completion, which is a testament to the demand for quality industrial space in our region. The three previously developed independent buildings total 180,000 SF, at 60,000 SF each. The first two were purchased by Pan-Oston, and the third is currently being leased by a tenant of the Transpark while their facilities are under construction.
“The Kentucky Transpark has played an integral part in the economic development and growth our region has experienced in recent years,” Bowling Green Area Chamber of Commerce President and CEO, Ron Bunch stated. “Dominion IV is yet another asset to the Transpark providing prospective companies with a potential location. We look forward to assisting with an expansion of one of our exceptional targeted businesses or welcoming a new business to the region.”
The Kentucky Transpark has a substantially positive economic impact on the region. As of October 2020, its companies employed more than 2,700 South Central Kentucky residents. Additionally, the projected total economic impact of the Kentucky Transpark reaches approximately $7.39 billion over the next ten years. A financial impact of this size will further promote growth and prosperity in other sectors of our region.
“The Transpark serves as a model in Kentucky for collaboration among local governments to enhance economic development success. Thanks to a seamless collaboration with the broader economic development team in our community, we have achieved consistent, nationally ranked success that enhances the quality of life for citizens in our area. We are excited about this investment and the opportunities that will come to the park,” stated Mayor Todd Alcott.
Dominion Building IV (and Dominion Building V to follow), is a pre-engineered steel structure with steel insulated panels spanning 125,000 SF, with 120,000 SF dedicated for manufacturing and 5,000 SF for office space. Situated on approximately 19.1 acres, the occupant will have expansion opportunities available. The building will meet the American Institute of Steel Construction Standards. Other features of the building will
-Zoning: I-2 Heavy Industry
-Dimensions: 250’ x 500’
-Height: 30’ at eave and 36’ at center
-Foundation: 6” reinforced concrete
-Roof: Standing seam with 4” roof and wall insulation with wet sprinkler system
-Walls: Split face block on two walls
-Columns: 50’ width by 62.6’ length column spacing
-Docks: Two-grade level doors and eight loading docks
The Kentucky Transpark offers tenants access to rail service, major highways with immediate access to Interstate 65 via connector road, international airports, and riverports. “There really is no better place to do business than here in South Central Kentucky,” reaffirmed Warren County Judge-Executive Michael Buchanon. “Our state-of-the-art business park allows companies located here a place to thrive. This building is a testament to our citizens recognizing a solid investment opportunity that will help bring even more new jobs to South Central Kentucky. We are proud to be home to the Kentucky Transpark and look forward to its continued development.” For more information on Dominion IV Speculative Building, contact Bowling Green Area Chamber CEO & President Ron Bunch, CEcD.
About South Central Kentucky Economic Development
South Central Kentucky Economic Development is an entity of the Bowling Green Area Chamber of Commerce, a nationally ranked 5-Star Accredited Chamber. Located at the center of a 34-state distribution area in the eastern United States, South Central Kentucky is a prime location for manufacturing and distribution facilities. South Central Kentucky is within a day’s drive of 60% of the nation's population, personal income, and manufacturing business establishments. Bowling Green ranks second in the United States for best manufacturing city. In the past decade, the region has captured over two billion in capital investment, creating thousands of jobs within the region. To learn more please visit https://www.southcentralky.com/.