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Saginaw Future Inc., a
private, non-profit economic development organization, broke ground on
Speculative Building #2 on June 18. The building is being constructed
in response to the limited supply of available industrial buildings in
the 30,000 to 50,000 square foot range in Saginaw County. A speculative
building is one erected without a tenant or a buyer with the expectation
that is will be purchased by an employer/user in the future.
SFI's speculative building
project involves a partnership between the Buena Vista Charter Township
Downtown Development Authority (DDA), the BV LLC, led by Mark Pumford,
and Saginaw Future Inc.
The speculative building
plans for a 39,550 square foot facility in the Buena Vista Commerce
Centre Industrial Park in Buena Vista Charter Township. The shell
building will be completed by the end of summer and is being marketed to
a wide variety of manufacturers and warehouse operators.
SFI's speculative building
program is a strategic effor to attract new industrial users with a
ready-made building. The speculative building enables the prospective
business to save valuable construction and design time that is can use
to get ahead in a new market. In addition, the use of the speculative
building has given some communities a competitive edge in a very strong
and active economic development market. Once this building is sold SFI
plans to continue the speculative building program with additional
buildings.
Saginaw Future Chairman
Grant Schaefer commented that, "The SFI Board adopted a strategic plan
that focuses on preparing industrial locations to support new industry.
The Board has identified the construction of speculative manufacturing
buildings as a high priority."
SFI President, JoAnn Crary,
stated that, "Development of this speculative building is a positive
strategy due to the potential economic impact for the area in terms of
the creation of new jobs and increase in tax base. SFI looks forward to
the sale of Speculative Building #2 and the beginning of Speculative
Building #3, as much needed tools for industrial development in the
Saginaw area."
For more information please
contact JoAnn Crary or Steve Jonas at (989) 754-8222.
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