SRC Plans for $100M, 1.1M Square Feet in Development in Next 10 Years

In February of 2021, SRC Holdings Corp. announced its 10-year plan to associates across the SRC organization. The plan includes $75 million - $100 million in real estate development for both manufacturing and retail space.

The development will be managed by SRC Realty Co., a new subsidiary of SRC Holdings Corp., led by Dennis Sheppard and Dick Moger. Their goal is to provide space for growth the SRC Companies are projecting while diversifying revenues for a more secure future.

“We’re working on the factories of the future," SRC CEO Jack Stack said. "And we’re working for the people of the future."

In a video shared with associates, SRC Realty Co. outlined two recently completed projects: a new 165,000-square-foot facility on N. Mulroy Road occupied by SRC Logistics Inc., and a 90,000-square-foot expansion at Springfield Remanufacturing Corp.’s facility on N. Broadview.

Development is planned at four of SRC’s properties in Springfield:

925 E. Chestnut: SRC plans to purchase the facility currently occupied by NewStream Enterprises and develop an additional 140,000 square feet at the south end of the property.

2401 E. Sunshine: SRC plans to expand the current facility occupied by SRC Electrical, Global Recovery Corp., The Great Game of Business and Ceramex North America. Further, SRC plans to build a self-storage business on the northwest corner of the property. More than 70,000 square feet of retail space will be located on the southeast corner of the property facing E. Sunshine Street.

2607 N. Mulroy: On the east side of town, SRC plans to continue developing the property on the corner of N. Mulroy Road and E. Kearney Street in phases. Phase 2, an expansion on the current facility occupied by SRC Logistics Inc., is already in process. Phase 3 involves building a 250,000-square-foot manufacturing facility. An additional 140,000 square feet on the northeast corner of the property is available for retail or manufacturing development.

4431 W. Calhoun: SRC plans to expand their current facility occupied by SRC Automotive Inc.

SRC Realty Co. also plans to purchase a facility in Lexington, Kentucky, to be occupied by SRC of Lexington.

A majority of the property development timelines are dependent on growth and demand. SRC associates have doubled the size of the company five years after every recession. As SRC enters the recovery, the realty team is preparing to assist in that growth.

In total, SRC expects to have a nearly 3.5 million-square-foot footprint by 2030.

For more information, contact SRC Realty Co. at realty@srcholdings.com.