Vista Industrial Park
The Vista Industrial Center is a 92-acre industrial park and commercial services area. This highly successful industrial park located at the intersection of Long Shoals Road and Highway 191 is just 3 miles from Interstate 26 at Exit 37. Owner/tenants include Nypro Asheville, Pet Dairy, and the McNutt Service Group companies.
In 1990, the head of Economic Development for the Asheville Chamber voiced concern over the availability of industrial sites in Buncombe County. Lewis Real Estate helped identify potential solutions. Three sites were presented, one of which was a property owned by Texas Instruments at the corner of Long Shoals and Brevard Road, formerly owned by Arcadia Dairy.
This site was chosen, and we began forming a group of local investors who were interested in the long term future of the community. Everyone involved realized that if Buncombe County grew, their business would also benefit. Local county government helped with water and sewer. NCDOT helped with the road and traffic signal at the intersection.
Our contribution was to take an open, rolling field and transform on paper and marketing materials into a viable industrial site. LRE also handled the “buy-in” from county commissioners, Chamber, and state government agencies early on while this was still a “dream”.
The greatest challenge of working with many owners was the “naming of the park”. Coming up with a new name and “brand” proved to be very illusive. The “Vista” name was chosen for its obvious reference to the area and received unanimous support. This project has been an incredible success and clearly defines the values, goals and services of our organization.
We sold the last parcel in 2005.
For the county, it was a windfall. They received a class A industrial park with covenants and restrictions in place. Thus creating: 1,866 jobs (940 direct, support another 926), payroll increases of $57.7 million and tax revenues in excess of $23.2 million.
The land development process is one of enhancing value and creating new value in real property. Our recent history in this field reflects a record of success after success. The elements are these: careful planning, proper positioning of assets, strategic site selection and most critically, assembling the right players for the team. Our group has maintained a leadership role in the market, participating in some of the largest and most successful commercial ventures in this part of the state.