STERLING – Three lot sales are paving the way for a new cycle of business activity at Meadowlands Business Park.
The sales were approved Monday by the Sterling Industrial Development Commission.
Halo Branded Solutions will buy two parcels near its new corporate headquarters at 1500 Halo Way. Halo is growing at a rapid pace, and the promotional products distributor continues to plan for a bright future.
“There is no exact timeline for further expansion, but Halo wants to secure space for future growth,” said Heather Sotelo, executive director of the Greater Sterling Development Corp.
Halo will pay $10,000 an acre for about 5 acres, the same price it paid for its other lots at the business park. Hay is planted on the land and it will continue to be farmed until Halo needs it. When that time comes, part of West 13th Street will be realigned to accommodate the next wave of expansion.
Verifacts announced last month that it will buy Halo’s old building at 1980 Industrial Drive. Verifacts will move out of Sterling’s downtown as the company plans to double its workforce.
The GSDC will receive a lot south of 1005 Commerce Drive for its mid-sized business incubator. A city-owned building at the Northwestern Steel & Wire site will be moved to the lot and it will be used for the incubator.
“Halo, Hartland Controls and Menk USA were all once in the big incubator, but we have a desperate need for space for smaller businesses,” Sotelo said.
The nonprofit development group doesn’t have to pay for the lot because it is being acquired to spur business growth.
The warehouse is being moved because it is in the way of road realignment plans in the Wallace Street area that include a roundabout. It will cost less to move the building to the business park than put up a new structure, Sotelo said.
Best Cob is out of the building, but a moving date has not been determined.
“Things got backed up a bit with the move because there were no engineering drawings for the building, so we’re still waiting for the new ones to be completed,” Sterling Mayor Skip Lee said.
The city gained possession of the mill properties in 2006. Corn cob processor Best Cob was renting the warehouse, which generated about $96,000 a year for the city. The GSDC plans to use only 56,000 square feet of the 120,000-square-foot building.
P&P Industries, 2100 Enterprise Drive, needs part of a lot next to its business for additional parking space.
A company that GSDC couldn’t yet name is interested in the rest of that lot and one next to it, totaling about 5 acres. That land is being sold at $15,000 an acre.
Meadowlands covenants allow for the lots to be split up. Lot prices are based on job creation numbers of the businesses, Sotelo said.
A Sterling Industrial Development Commission meeting is tentatively scheduled for 10 a.m. July 16 in west conference room 3 at City Hall, 212 Third Ave. in Sterling.