Berea sells industrial property, new jobs expected

0
701

Berea City Government says Berea Mayor Bruce Fraley, who is also president of the Berea Industrial Authority, has disclosed the sale of the 10.8-acre parcel not far from Farristown Middle School. “This parcel is on the north side (left) of Farristown Industrial Road, just past the entrance for the track,” Fraley said. “It is a great site, and is essentially flat, which will minimize earth work related to site preparation.”

BIDA sold the land in Menelaus Industrial Park to Menelaus Berea Spec, LLC, an affiliate of MP Kelly Design and Construction in Richmond, Kentucky, according to a press release from the mayor’s office.

Fraley states the site will serve the needs of prospective employers, thus potentially attracting more new jobs to add to the recent expansions in local industries.

Menelaus Berea Spec, LLC plans to construct an approximately 50,000-square-foot “spec” building on this site beginning in 2022, which will help the BIDA and City of Berea continue to attract quality employers to our city,” Fraley said. “With the recent expansion of Hyster-Yale Group, and new large employers choosing Berea, including AppHarvest and Hitachi-Astemo Electric Motor Systems America, we expect to see an increasing demand for existing buildings in and around the Berea Industrial Park and Menelaus Industrial Park.”

Fraley noted the demand for industrial-ready buildings in central Kentucky has surged as of late, leaving very little inventory for clients to choose from. Recent reports show less than 3% vacancy of existing buildings currently on the market for sale or for lease.  “This investment from Menelaus Spec, LLC will meet that growing demand and fill a much-needed void for new product,” Fraley said.

Tell us what you think