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Developer poised to build 900,000 square feet of industrial space

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Opus Development Corp., a Minnesota-based real estate firm, is starting development of two industrial buildings in Plainfield totaling a massive 925,000 square feet.

Milwaukee-based investor Northwestern Mutual Life Insurance Co. will own the buildings.

The owner doesn't have tenants lined up for the buildings, but is banking on strong demand in the industrial market.

The two warehouses—one 475,000 square feet and the other 450,000 square feet—are set to be built on 52 acres at Reeves Road and Indiana 267 that Opus has owned since 2008. Construction is set to start later this month, with completion slated for May. Opus declined to disclose the cost to build the buildings.

It’s likely that one to four tenants will occupy the buildings, said Douglas J. Swain, vice president and general manager of Opus’ Indiana operations.

“We’ve seen some interest, and we’ve begun to speak to a couple of potential tenants,” he said. “Indianapolis has always been a strong industrial market.”

It’s been particularly strong lately, as demand for speculative industrial space increases after a lull in construction during the downturn.

Atlanta-based Industrial Developments International Inc. completed construction of a 794,608-square-foot speculative building within the AmeriPlex Business Park in March and now plans to build a 460,000-square-foot building within the same complex.

Chicago-based Verus Partners is constructing a 771,000-square-foot bulk warehouse building in GreenParke at Airwest Business Park in Plainfield, slated to be finished Sept. 1. And Kansas City-based VanTrust Real Estate LLC has completed a 450,000-square-foot spec building at Stanley and Perry roads, also in Plainfield.

In Boone County, a joint venture of Duke Realty Corp. and Browning Investments Inc. this year built a 600,000-square-foot warehouse, expandable to more than 1 million square feet. The building is in AllPoints at Anson in Whitestown.

When finished with its latest project, Opus will have developed 8 million square feet in Plainfield, including 11 existing buildings in Airwest Business Park.
 
 

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  1. I think the poster was being sarcastic and only posting or making fun of what is usually posted on here about anything being built in BR or d'town for that matter.

  2. Great news IRL fans: TURBO the IMS sanctioned movie about slugs running the Indy 500 has caught the Securities and Exchange Commission because Dreamworks had to take a $132MILLION write down...because the movie was such a flop. See, the Indy/IMS magic soiled another pair of drawers. Bwahahahahahaha! How's CARTOWN doing? HAHAHAHA...Indy is for losers.

  3. So disappointed in WIBC. This is the last straw to lose a good local morning program. I used to be able to rely on WIBC to give me good local information, news, weather and traffic on my 45 minute commute.Two incidents when I needed local, accurate information regarding severe weather were the first signs I could not now rely on WIBC. I work weekend 12 hour nights for a downtown hospital. This past winter when we had the worst snowfall in my 50 years of life, I came home on a Sunday morning, went to sleep (because I was to go back in Sunday night for another 12 hour shift), and woke up around 1 p.m. to a house with no electricity. I keep an old battery powered radio around and turned on WIBC to see what was going on with the winter storm and the roads and the power outage. Sigh. Only policital stuff. Not even a break in to update on the winter storm warning. The second weather incident occurred when I was driving home during a severe thunderstorm a few months ago. I had already gotten a call from my husband that a tornado warning was just southwest of where I had been. I turned to WIBC to find out what direction the storm was headed so I could figure out a route home, only to find Rush on the air, and again, no breaking away from this stupidity to give me information. Thank God for my phone, which gave me the warning that I was driving in an area where a tornado was seen. Thanks for nothing WIBC. Good luck to you, Steve! We need more of you and not the politics of hatred that WIBC wants to shove at us. Good thing I have Satellite radio.

  4. I read the retail roundup article and tried Burritos and Beers tonight. I'm glad I did, for the food was great. Fresh authentic Mexican food. Great seasoning on the carne asada. A must try!!! Thanks for sharing.

  5. John, unfortunately CTRWD wants to put the tank(s) right next to a nature preserve and at the southern entrance to Carmel off of Keystone. Not exactly the kind of message you want to send to residents and visitors (come see our tanks as you enter our city and we build stuff in nature preserves...

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