Lou Robelli is about to open a 300,000-square-foot warehouse in Park City.
He concedes it hasn't turned out to be great timing. But he said this week that it's not a problem — as long as he gets it leased up in a few months.
Robelli, owner and CEO of Air Capital Delivery and Warehouse, said he is getting interest in the building from national and regional tenants.
"When we started this project, we thought it was the right thing to do," Robelli said. "And it's still the right thing, for the long term."
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The warehouse is a few lots away from his 5-year-old, 343,000-square-foot warehouse near Prospect and 61st Street.
He thought, in early 2008, that a second warehouse made perfect sense. He embarked on it with the help of nearly $7 million in industrial revenue bonds from Park City.
Robelli's trucking company, with 45 trucks, hauls full trailer loads to 48 states.
Robelli started Air Capital in 1979 as a courier service, largely carrying aircraft parts around the city. Shortly after, he said, the industry went into one of its periodic crashes and he decided to diversify.
Even today, he hauls and stores little for the city's aircraft industry. One of his biggest clients is Coleman Co.
That's why he estimates his business is down only about 10 percent from a year ago — although it fell deeply in the winter and spring and has since recovered.
His agent, Ted Branson of Landmark Commercial, said he's gotten some nibbles.
"It's definitely somewhat depressed," he said. "But still we're seeing a very welcome amount of activity in all warehousing."
Branson said the warehouse is being marketed at $4 a square foot for the whole thing, or $4.25 for 100,000-square-foot increments, excluding the cost of taxes and insurance.