In the News

Spec Building Sold for 850K

Spec Building Sold ImageThe Development Authority of the City of Milledgeville and Baldwin County have sold spec building to the firm Strapack, Inc. for $850,000. The spec building is located on highway 22 in the Industrial Park. Built in 2007, the building is 62,500 sq.ft. and sits on 15 acres.

The real estate deal was finalized December 28, 2015, closing out the year on a positive note and as one of two projects realized in the 4th quarter of 2015. The unanimous vote by the Development Authority’s Board of Directors allows for immediate work by Strapack to prepare for operations to begin early in 2016. Strapack, Inc. will invest between $4 and $6 million in the purchase price and planned build-out development of the building.

Initially, Strapack, Inc. will employ 10 people and company officials have indicated plans for future expansion with additional job positions to be created. No tax abatement was given as part of the contract, so sale of the property will be an immediate benefit on the tax digest.