A new business park is being developed at 3000 Hi Pack Drive, just northeast of the Auburn-Opelika Airport between Pepperell Parkway and Frederick Road. The park is located in a qualified opportunity zone in Opelika, Ala., offering potential tax advantages and savings to companies locating in the park.
Mayor Gary Fuller said, “Opelika is fortunate to have great partners who believe in bringing good businesses to town. That, in turn, means jobs for our citizens. This helps keep our local economy prosperous and strong.”
The park is being developed by Hillstone Advantage Partners, LLC www.hillstoneadvantage.com which has begun clearing the 13-acre site next to Packaging Corporation of America. The first building should be available in the 2nd quarter of 2020. Jake Hill, principal at Hillstone Advantage, believes that this is the first, or one of the first, business parks in Alabama that is being developed in an opportunity zone.
“We are thrilled that Hillstone Advantage Partners has the confidence in Opelika to make this investment. It will bring much needed space for projects that would like to take advantage of the opportunity zone designation,” said Lori Huguley, CEcD, Director of Opelika Economic Development.
The park is designed to hold 10 or so buildings, which may vary in size from 7,000 square feet to 45,000 square feet or so. Buildings can be multi-tenant or single tenant. The buildings will be designed for showroom, flex space, warehousing and light industrial uses. Opelika, and this particular site, were chosen due to the rapidly growing economy in the Auburn-Opelika MSA area. Recent nearby investments in the aerospace and the automotive industries, coupled with proximity to Auburn University and Airport, rail service, Highway 280 and 1-85 make this a convenient site for tenants who need access to these industries and transportation modes. Additionally, Opelika's location makes it easy to serve regional customers in Birmingham, Montgomery, Columbus, Atlanta and the Florida panhandle.
John Eyster of Pointe CRE and Rush Denson of The Denson Group of Opelika, Ala. have joined forces to help market Hi Pack Business Park. Pointe Commercial Real Estate is a Chattanooga-based commercial brokerage firm, providing services in Alabama, Georgia and Tennessee. The Denson Group is an Opelika based commercial brokerage firm. For more information on this project please contact John Eyster at [email protected] or 256.426.1165 or Rush Denson at [email protected] or 205.503.8655.