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REAL ESTATE & DEVELOPMENT - January '98

Moving On Up: Dover Builds New Facility

Boiling Springs Industrial Park gains another new tenant with the addition of Dover Elevator's new 8,000-square-foo office/shop facility. Although the Memphis-based company has maintained office space in a multi-tenant building on Industry Road for the past 40 years, Dover's growth in Central Kentucky over the past several years necessitated a larger facility that included room for future expansion.

Dover's client list now numbers approximately 300, with current projects including the modernization of elevators at UK's Kirwin/Blanding dormitories (each with three elevators rising 23 stories) and new construction at the Federal Medical Center in Lexington, Baptist Regional Medical Center in Corbin, the Floyd County justice Center in Prestonsburg, and the Ramada Ltd. in Mount Sterling. Dover is currently the only major elevator company operating in the area and also has offices in Louisville and Cincinnati.

Dover's new location on Jaggie Fox Way (off Sandersville Road) will immediately provide the company with more parking and an additional 2,300 square feet more than its existing space, while also allowing for another 4,000 square feet for future expansion, said Buddy Green, branch sales manager for Dover.

Brett Construction Co. of Lexington is the general contractor for the $400,000 project.

 

Construction Underway for New Dialysis Center

The Dialysis Clinic Inc. (DCI) is in the process of constructing a new 16,000-square-foot dialysis treatment center on Venture Court, off Leestown Road. The new facility will take the place of the center's existing dialysis center on Leestown Road, where it has been located since 1975.

Individuals needing dialysis for kidney problems typically require treatments three times a week, with treatments averaging three-and-a-half to four hours per visit, explains Bill Wood, director of operations for Dialysis Clinic Inc.

Dialysis Clinic Inc. is a Nashville-based, not-for-profit company that has grown to 125 dialysis treatment centers throughout the country. In addition to its Lexington locations (the company operates another center on Southland Drive), DCI has treatment facilities in Frankfort, Richmond, Danville, and Corbin.

DCI employs approximately 75 people between its two Lexington facilities, which average 280 patients per week The company also has contracts with Central Baptist, St. Joseph's, Columbia and Jewish hospitals to handle their inpatient dialysis treatments.

Although construction is already underway, the complexity of the project means that a move will not occur until summer, said Wood.

"It has very specialized plumbing and requires pure water, so we have a lot of water treatment equipment [to install]," explained Wood.

The project is estimated to cost approximately $1.6 million. W. R. Newman of Nashville is the general contractor.

 

Central Equipment Moves to Red Mile Road

After 25 years of operating out of a former feed and hay store on Angliana Avenue, Central Equipment is preparing to move into a new facility now being constructed on a four-acre parcel on Red Mile Road.

With 56,000 square feet to house the company's stock of farm and turf equipment, the new facility will have nearly twice as much space as the Angliana store, which consists of three separate buildings. Central Equipment plans to lease those three spaces after the move into their new building, said Joe Huber, who owns the second-generation family business with his brother, Paul.

The additional space will also allow Central Equipment to offer more in the way of services and repair with a more functional and adaptable service area, added Huber. As a result, Huber anticipates adding a few more employees to the existing 38-member staff.

Woodford Steel Inc. is the general contractor on the $2.2 million project, which is expected to be completed next month.

 

Mercer Rd. to be Site of Tele-Tech Headquarters

The Tele-Tech Company, Inc. is in the process of building a 42,000-square-foot facility on Mercer Road that will serve as the company's new corporate headquarters.

The new $2.5 million facility will bring together under one roof the company's three separate Central Kentucky locations and will also house a training center, said Tele-Tech president Philip Morris.

Tele-Tech, which engineers and installs fiber optic and computer networks, was founded by Morris in 1978. Over the course of 20 years, the company has grown from a small local business with six employees to a national entity with more than 600 personnel on staff.

"Because of our fairly rapid growth, we were approved in May by the economic development group of the state and the city for incentives to remain here in Kentucky," Morris noted. "We had, at the time, about 65 people in Lexington. By the time we move into the facility we will have about 90 people in Lexington and will continue to grow from there."

The project is expected to be completed sometime during the second quarter, said Morris.

 

Property Transactions

4092 Winchester Road
166-acre farm (including two homes, an office, two horse barns)
Kenneth T. and Elaine Jones to Frank D. and Mattie Justice
$1,700,000 ($166.84/acre)

101-109 Prosperous Place
Office building
Rice Realty Co. LLC to EW LLC
$4,350,000 ($85.29/square foot)

1375 Custer Drive
Office Condo
Custer Professional Center Condos, Unit 1
Craig Bros. Real Estate Inc. to J. David Miles
$260,000 ($81.42/square foot)

160-162 N. Hanover
Eight-unit apartment building
A.B. Alphin Jr. to Lawrence W. Morton
$160,000 ($35.16/square foot)

 

Back to January Issue

Back to Real Estate & Development Index

 

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