After landing two of Northern Kentucky's largest development projects in 2007, Al Neyer Inc. is expanding its Riverview Business Park in Hebron by adding 35 acres to the 101-acre park it opened in 1998.
The downtown-based real estate developer paid $320,000 for a former horse farm adjacent to its hilltop property northeast of the Cincinnati/Northern Kentucky International Airport, a deal that roughly doubles the 36 acres still available in the park. By incorporating design elements that evoke a residential feel, including a decorative stone wall at the entrance and a one-acre lake, Neyer has attracted a cluster of foreign-owned companies that made Riverview Business Park their U.S. headquarters.
"It was designed as an upscale business park," said David Neyer, president and CEO of the family-owned Al Neyer Inc. "The people we were trying to get were those companies that would favor higher-end amenities."
New to the neighborhood in 2007 were Psion Teklogix Corp., a Canadian company that sells mobile computing systems, and Mauer USA, a German firm that specializes in plastic injection molding. Three of the seven companies that located in the Riverview park were German-owned, while a British firm that moved to the park in 2000 was later replaced by trade-show display company Opera Portables Inc.
"It's developed into a nice, small niche business park," said Dan Tobergte, president and CEO of Northern Kentucky Tri-ED, the economic development arm for Boone, Kenton and Campbell counties. "Its location is very accessible. Its price point is reasonable, in the $90,000 an acre range. It's a very natural setting, preserving as many trees as possible."
Psion Teklogix and Mauer were among Tri-ED's 20 largest expansion projects in 2007. Psion's 60,000-square-foot facility represented a roughly $6 million investment and holds about 150 employees in sales, accounting and technical support. The company makes scanning devices and RFID equipment, which are used to track packages and inventory.
"It has quite a different look and feel than most industrial parks," said Tony Condi, director of marketing for Psion Teklogix. "All the buildings back here are very eye-catching."
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