A second entry road to be constructed this spring will open up the remainder of a 128-acre light industrial area being developed by businessman Dennis Albaugh south of Ankeny. The area borders Northeast 58th Avenue on the south and runs north along a Union Pacific rail line nearly to Northeast 66th Avenue.

Albaugh, doing business as DRA Properties, has owned the vacant land for about three years and has divided it into 28 lots sized from about 2 acres up to 9.5 acres. Prices range from $270,000 to $960,000. Just one lot has been sold; a second is under contract and is expected to close this summer, according to real estate agent Dave Vance.

Northeast Industry Drive provides access to the southern half of the development, known as Plat 4, and utilities have been installed in that area. Now Albaugh has secured an easement for the construction of a north-end entry roadway off Northeast 66th alongside Firestone’s massive tire warehouse. The northern segment is called Plat 5.

Vance said discussions have been held with Union Pacific about adding a switch and rail siding to serve future businesses in the development. The line serves the Deere & Co. manufacturing plant.

The price of acquiring the land from four owners and installing utilities amounts to about $2.80 per square foot, Vance said. The asking prices of the 28 lots total more than $16 million.

Albaugh has developed several properties in the Ankeny area. Plat 1 is an industrial park near Exit 92 on Interstate 35; Plat 2 is a 32-acre parcel south of Ankeny, of which less than 6 acres remains on the market; and the last lot in 25-acre Plat 3 was sold last fall, Vance said.

Vance said Albaugh doesn’t intend to construct buildings on Plat 4 or Plat 5.

However, he is involved with construction at NorthPointe, a development at the north end of Ankeny. Vance said four of six office condominium units have been sold in a 15,000-square-foot building there, and a second building of equal size is now under construction.