Industrial park planned on West First Avenue.
In an effort to diversify his investments, businessman Ron Hagen is selling his Eugene-based regional roofing supply company and will take a stab at industrial park development.
Hagen, owner of Roofline Supply & Delivery, is in the process of selling the firm to two employees, Ann Harris and Billy Sherritt.
But he'll remain close by even after turning over the reins.
Hagen and partner Gordon Locke later this year will begin work on the 6.5-acre Moriah Business Park at 3291 W. First Ave. in Eugene, just west of Seneca Road.
Hagen and Locke, who also own Coburg-based Alpine Building Materials, plan initially to construct two buildings at the site - one that will become a new home for Alpine, and another to be leased to Roofline.
The Alpine and Roofline buildings will each be about 10,000 square feet, with about 7,500 square feet dedicated to warehouse space and the rest for offices. The buildings, which Hagen said should be complete in early July, have a price tag of about $650,000 each.
Roofline now leases a large warehouse and office on 3.5 acres in the Pioneer Business Park in west Eugene, while Alpine leases space on Roberts Road in Coburg.
Hagen and Locke plan to build four additional buildings on the heavy-industrial parcel, which is sandwiched between West First and the railroad tracks. Those buildings, which they plan to construct and lease based on demand, would also be in the 10,000-square-foot range. But Hagen said the plan is to divide three or four of those buildings in half to better accommodate potential renters.
"From what we've found, smaller buildings are more leasable that the larger ones," Hagen said, adding that he's in preliminary negotiations with a Eugene business that may want to lease one of the buildings.
Including the $843,000 cost of buying the land, Hagen said his development will have a total price tag of $6 million to $8 million.
Broker Alan Ruggles at Western Properties will market the development.
Development Report runs Tuesdays. To suggest items, contact Joe Harwood at 338-2364 or firstname.lastname@example.org.
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|Title Annotation:||Real Estate & Housing|
|Publication:||The Register-Guard (Eugene, OR)|
|Date:||Jan 13, 2004|
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