$245,000 deal brings PIC to capacity

It’s been 11 years since Contico International signed on as the first tenant in fall 1994. But with the June 7 finalization of a $245,000 deal with Springfield Striping & Sealing, the center is fully occupied.

The asphalt sealing and repair company signed a contract for 10.9 acres at about $22,477 an acre – a discounted rate from the industrial center’s normal $35,000 an acre without rail access. The Partnership Industrial Center Administrative Council discounted the last available piece of land because it was full of large rocks and “spoiled dirt” from other PIC parcels, said Karl Plumpe, City Utilities associate general manager for economic development, who provides staff support for PIC development.

Springfield Striping & Sealing owner Joe Manzardo plans to build a 45,000-square-foot facility, replacing its seven-year-old, 21,000-square-foot building at 201 S. Ingram Mill Road.

The new building contains 8,000 square feet for offices and the rest will be used for for equipment storage and manufacturing.

Manzardo said that the draw of the industrial center was its size and location.

“That’s the only place I could find on this side of town with the kind of space we needed and that kind of access to (Highway) 65,” he said.

Construction is about to begin, and Manzardo hopes to be in the new building by March.

The industrial center has two other lots that remain unoccupied, but those are under options to buy with neighboring companies, Plumpe said.

Current PIC tenants Diesel Exchange and Watts Radiant have options to buy lots adjacent to their buildings for future expansion.

Greg Williams, head of economic development for the Springfield Area Chamber of Commerce, said the complete leasing of the center came quicker than expected.

The Partnership Industrial Center Administrative Council originally anticipated the process taking 12 to 16 years.

Williams said the fast results were due to the diverse methods used by the Springfield Partnership for Economic Development to attract businesses.

“We work primarily with national site selection consultants; they typically provide the most qualified applicants,” Williams said.

“We also use various trade shows, conventions, symposiums (and) national advertising in trade journals. There’s also the local business retention and expansion of local businesses. The first park (is) about a 50/50 blend of new businesses and existing expansions.”

Expansion also continues at PIC West, where ground was broken in March on a 75,000-square-foot speculative building developed by Columbia-based Springfield Industrial Properties LLC.

The company has two years to secure tenants before payments are due to the industrial center.

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