“If you build it, they will come” is the famous line from the movie Field of Dreams. That is a risky slogan to live by. But, it is in fact the business model for The Hollingsworth Companies Industrial Building Program. In the last few decades, it has gotten increasingly more difficult to get buildings built. Not that steel or concrete have changed in any significant way over that time, but the regulatory environment we live in has changed the time to get a permit change from a couple of weeks into several months. In the last few years, supply chain issues have made it even more difficult and uncertain to locate materials and get them delivered to the project in a timely manner. Construction is not for the faint of heart these days. That is why, more than ever before, companies are choosing existing buildings to meet their growth needs. Not many companies can afford to wait over a year or two to start up a new business unit or expand their operation.
That is where The Hollingsworth Companies comes in. We are building speculative buildings currently in Alabama, North Carolina, Tennessee and Virginia. As we near completion on these buildings, multiple users are lining up to lease the facilities. In spite of the fact that lease rates have risen an average of 14% in the last two years, high demand, low inventory, even higher replacement costs combine to create an urgency in the market that continue to drive development and market absorption.
However, this is not a business that is easy or quick to enter. We acquired hundreds of acres of industrial land, implemented the proper zoning and protective covenants, extended infrastructure suitable for industrial users, and built one speculative building after another. We are getting ready to celebrate our 25-year anniversary of our partnerships with Prince George County Virginia and Mocksville, North Carolina. In those two communities, we have developed 28 projects totaling over 4,000,000 square feet. We are now seeking the locations for our next generation of privately owned industrial parks, because we are building on the last available lots in our first-generation parks.
There are many unprecedented and unexpected turns and twists in the current economic and political climates, but we still press through to bring valuable assets to growing businesses across the Southeastern United States, a field of dreams for industrial.
"I fully recommend working with The Hollingsworth Companies if cost or time driven schedules play a part in your company's opportunity because they do deliver within budget and on time with no change orders or surprises." -- David B. Sutherland, CMS Companies
"Southern states are home to 50 million more residents than the Northeast. In corporate growth, only the South has shown a positive net migration in the early 21st Century." -- Plano Star Courier
"We invited The Hollingsworth Companies to our Atlanta Offices. Within two weeks all negotiations were completed and the lease was executed. From beginning to end, it only took 45 days to complete our requested up fits." -- David B. Sutherland, CMS Companies
"The bottom line is that we could not be more pleased with our Hollingsworth Companies experience." -- Karl F. Hielscher, President and CEO, Metl Span
“From greenfield startup to becoming a national industry leader 10 years later, Hollingsworth continues to play an invaluable role in Service Center Metals growth and success.” -- Scott Kelley, President and CEO, Service Center Metals
"Hollingsworth entered an agreement to ensure quick delivery of the pre-approved standard building sizes . We are committed to deliver the structural steel, ready for erection, in just 6 weeks from receipt of a final building order." -- Jeff Carmean, General Manager, Nucor Building Systems
"Joe Hollingsworth participated as one of our first equity investors. In addition, Joe Hollingsworth has served as a board member and leading advisor for strategic planning and direction." -- Scott Kelley, President and CEO, Service Center Metals
