MEDIA
HADCO Submits 4 Sites to Appalachian Power Company’s Site Readiness Program
Appalachian Power Company (APCo) is investing in industrial site development in West Virginia. In January of this year, APCo announced that it was contracting with Insite Consulting, a professional site selection firm, to review and grade marketable industrial and commercial sites throughout the APCo service territory in West Virginia. The local economic development organization (LEDO) for each county in its territory was given the opportunity to submit qualified sites for review in March of this year. Insite Consulting developed a proprietary datasheet for each LEDO used to collect relevant data for each site. The information collected is being used to determine how close a site is to being considered “Shovel-Ready,” which says that a particular site has all of the specifications and qualifications needed to support various industrial development levels.
HADCO submitted a total of four industrial sites for consideration, including two land parcels inside the HADCO Business Park on Rt 2 near LeSage, the Barboursville Business Complex site at 1350 Riverview Drive in Barboursville, and the Appalachian Power Company Culloden RT 60 Site, near the intersection of James River Turnpike Rd and Route 60 in Culloden.
“This program has given our organization an excellent opportunity to review our community’s available industrial sites internally, to confirm with various utility and development partners the development potential for each site, and to organize all of that data into one property spec form,” said HADCO Business Development Specialist Adam Phillips. “It’s huge for us because not only did we get our sites in front of a professional consultant for evaluation, now we have a framework to get any available site from A to Z when it comes to future development for new investment.”
Information was gathered on each site’s geographic and geologic features, the surrounding environs, and each site’s surrounding land uses. Information was also collected about the site’s utility access, available utility capacities, and due diligence reports, including environmental, archeological, geotechnical, wetland and endangered species studies. HADCO was able to use this as an opportunity to update some of its own due diligence reports, which will make the site easier to market.
Currently, HADCO’s Business Park on RT 2 in Green Bottom near LeSage is one of only two sites to be designated as “Shovel-Ready” by the West Virginia Development Office. The other site is the Huntington Tri-State Aeroplex, which offers 90 acres of developable acreage adjacent to the airport. HADCO Business Park features an available 20-acre and 10-acre pad with access to all utilities on site. The park also features HADCO Building 5, a 100,000 SQ FT warehouse building with 32 FT Ceiling, 25X50 FT Column spacing, four dock doors, and three drive in doors. The building is currently being marketed for $3.2M or $3.50/SQ FT annual lease rate.
For more information on the HADCO Business Park and other available sites in Cabell and Wayne Counties, please visit the sites and buildings portal on the HADCO website at www.hadco.org.