Stout Development announces expansion

TIFFIN --- Stout Development announced on March 7 plans to expand its current speculative building at Eagle Rock Industrial Park. The expansion project aims to add 50,000 square feet of speculative space and potentially extend a standalone build-to-suit building of up to 175,000 square feet on the adjacent lot, according to a release. "We are excited about the growth opportunities this expansion brings to the Eagle Rock Industrial Park," Rob Guarnaccio, President of Stout Development, said in the release. "This additional space will allow us to cater to the needs of potential manufacturing and warehousing needs, contributing to the economic development of Tiffin. We currently control the adjacent lot #2, approximately 8.7 acres, for the future build-to-suit facility." Currently, Aldridge Electric occupies a portion of 20,000 square feet, leaving approximately 80,000 square feet available for manufacturing and warehousing purposes. "Stout had submitted plans and will begin construction very soon, likely within the next month or two," Aaron D. Montz President & CEO of Tiffin-Seneca economic partnership. "TSEP has been working with Stout ever since the purchase of the spec building last Summer and has established a good working relationship with the company." The expansion is expected to cost more than $4 million and is anticipated to be complete within ten months. "This expansion could be a pivotal endeavor aimed at attracting new manufacturing ventures and bolstering the economic vitality of Tiffin, and it underscores the commitment we have to plan for growth and prosperity," Mayor Lee Wilkinson of Tiffin said, in the release. Spec building projects have been highly successful in Tiffin, bringing businesses such as TH plastics, MBDS, Quick TAB II, and Sonoco Products to the community's two industrial parks, according to the release. Stout Development Services continues to work with the Tiffin-Seneca Economic Partnership on additional projects in the greater Tiffin area which will be key to fostering additional manufacturing and warehousing growth in the region.