A new business park is coming to Opelika in a qualified opportunity zone. The Hi Pack Business Park, which will feature 10 buildings varying from 7,000 to 45,000-square feet in size, offers potential tax advantages and savings to companies locating to the park.
With clearing beginning at the site, which will be located next to Packing Corporation of America at 3000 Hi Pack Drive, Opelika Mayor Gary Fuller said he is excited for the new addition to a fast-growing business economy in the town.
“Opelika is fortunate to have great partners who believe in bringing good businesses to town.” said Fuller. “That, in turn, means jobs for our citizens. This helps keep our local economy prosperous and strong.”
Opelika’s growing business economy and location played a major role in selecting the city as the site for the Hi Pack Business Park, which is marketing to recent investments in the region.
Proximity to Auburn University and Airport, rail service, Highway 280 and Interstate-85 makes the new business park a convenient site for tenants who need access to these industries and transportation modes.
Buildings within the park can be multi-tenant or single-tenant and will also feature showrooms, flex space, warehousing and light industrial uses.
Clearing for the 13-acre development has begun and is being overseen by Hillstone Advantage Partners, LLC., a company whose mission is to acquire and develop income-based commercial and industrial real estate in opportunity zones.
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Hi Pack Business Park will be one of the first business parks in Alabama that is being developed in an opportunity zone, said Jake Hill, principal at Hillstone Advantage.
Lori Hughley, Opelika’s director of Economic Development, expressed the city’s gratitude for the investment into it’s rapidly growing economy.
“We are thrilled that Hillstone Advantage Partners has the confidence in Opelika to make this investment,” said Hughley. “It will bring much needed space for projects that would like to take advantage of the opportunity zone designation.”
Marketing for the park is being done by both John Eyster of Pointe Commercial Real Estate and Rush Denson of The Denson Group. The opening of the first building is scheduled for the second quarter of 2020.
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