Jim Estes with Greater Owensboro Realty Company is about to be a very busy man.
Estes is the primary broker for the former GE building and adjoining 95 acres of developable land on Old Hartford Road which Estes announced this afternoon has been sold to “Owensboro Warehouse Leasing LLC”, a group of local investors.
“We’ve been working with Mayor Watson, the City Attorney, and others to look at the overall development plan,” Estes told Owensboro Living this afternoon. “We’re looking to get started (leasing and developing) tomorrow!”
The iconic location will become a repurposing project estimated to generate in the neighborhood of $60 to $80 million dollars in future development.
The project will consist of:
- office building,
- medical offices
- and an array of small businesses.
Estes says plans also include constructing an upscale apartment complex as well as single family residential housing.
The developers are currently working with several prospective tenants for potential job opportunities in the existing 427,000 sq ft facility. Estes says he has had companies as far away as China inquire about it.
“It’s a win-win for Owensboro and Daviess County. Owensboro needs another job creator that is outside the realm of fast food and retail. With its central location, convenient access to all areas of town, and its proximity to the city park system’s greenbelt, we believe this to be an asset for all types of buyers and investor opportunities,” Estes said.
The new developers are also working with the current city and county administration in hopes to connect Highway 231 with Highway 54 to allow better access to and from the development. Estes says those plans have been discussed for a while, but hopes this development will spur the plan into action.