Pattillo Industrial Real Estate plans to begin construction on a 77,100-square-foot speculative building in the Gainesville Business Park next month and Greater Hall Chamber of Commerce officials are already promoting it to businesses that could add jobs to the community.
"That building represents the bait on our hook," said Tim Evans, the chamber's vice president of economic development.
He added, "We've recommended this particular spec building several times."
Evans said this may be the first spec building built in the Southeast in the last three or four years.
"Our firm will be making this investment in one of the hottest economic development markets in the Southeast," said Larry Callahan, CEO of Pattillo Industrial Real Estate.
"The Gainesville-Hall County market has demonstrated that demand by employers to access the skilled workforce drives demand for manufacturing space. The time is right for additional supply in this size range."
In June, Gainesville-based Simpson Grading began grading the 20-acre site at the park at 1845 New Harvest Road, and Evans said the building should be completed during the first two quarters of 2012.
This will be the second building developed in the business park since it opened in March 2010. ZF Wind Power opened its 250,000-square-foot headquarters and manufacturing plant in October.
Evans also noted Hall County is completing a road improvement project on Calvary Church Road that connects the business park to Exit 20 on Interstate 985.
"We think that building probably will appeal to a manufacturer," Evans said.
Evans said as much as 80 percent of new business recruitment activity is focused on finding an existing building. The Hall County area has some available buildings that have 30,000 or fewer square feet, "but not many bigger than that." The new building will be expandable to 140,000 square feet.
When the Gainesville-Hall County Development Authority sold the rights to the Gainesville Business Park to Pattillo Industrial Real Estate in March, the contract included an obligation for a spec building to be continuously available at the site.
Evans said Pattillo will pay for the entire cost of the building and recover its money when a business moves in.