Perry Economic Development announces new speculative building project
Perry Industries, Inc. and Perry Economic Development, Inc. recently announced the fourth speculative building project in Perry's Industrial Park since the park's inception in 1984. In concert with the leadership of the Iowa Area Development Group, their utility partners Minburn Communications, Guthrie County Rural Electric Cooperative, Central Iowa Power Cooperative and the city of Perry, PED has elected to move forward with the construction of a speculative, 30,0000 sq. ft., 30-foot side-walled, all-steel, industrial, polestyle, insulated, warehouse shell building identical to the building it erected in 2018 (which was sold to local Perry apparel manufacturer TCB Companies in 2020).
The building will sit on five+ acres of the shovel-ready certified site and will be available to purchase at a price of $1.3 million. It will be built on a ribbon of concrete, remaining open on the inside for future customization of the interior to the buyer's demands and will be expandable to the north. The building will be situated in the nearly 200-acre greater Perry Industrial Park between Percival Scientific and Hy-Line International, and includes existing storm water detention available to the immediate north of the property, along with a modifiable site plan. The project is targeted for completion in the summer of 2022.
The project will be funded by a combination 10-year of 0% interest loans with initial payments deferred for two years via a combination of revolving loans from PED’s utility partners. Matt McDevitt, President of Perry Industries, Inc, is very appreciative of how all of these partners have supported the continued development of Perry and the Perry Industrial Park.
“PED values the close-knit relationships we have with our true economic development partners," he said. "The partners are convinced this is a great project for the current business climate, and each of them realizes that by working together as one team toward a common purpose, we all succeed. We are grateful for the proactive support of this project.”
“The inventory of buildings of this size that are immediately available in Iowa is extremely low at the present time,” said Bruce Hansen, IADG Vice President, Business Development. “The city of Perry, as one of the larger communities just outside of the immediate Des Moines Metro, is conveniently situated while still offering its own impressive list of amenities, a relatively low cost of living and an extremely capable workforce.”
Steve Menz of Menz Agri Sales and Service will again be the general contractor on the project. Whenever possible, other local Perry sub-contractors like Harland Concrete, Perry Builders and Beaver Creek Ag will be utilized for erection of the building.