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New warehouse ends drought of spec industrial development

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A four-year freeze on speculative industrial development in Indianapolis ended Wednesday when a developer officially announced plans to build a massive distribution building near Indianapolis International Airport

Construction on the 794,608-square-foot warehouse will begin in the next two weeks in the AmeriPlex Business Park, officials of Atlanta-based Industrial Developments International Inc. said. They hope to complete construction in December.

Initial plans for the building first came to light in February—one of several signs early this year that the halt on speculative industrial development was finally beginning to end.

Other developers, such as Chicago-based Verus Partners Inc. and Kansas City-based Caymus Real Estate LLC, have been working on new industrial developments in Plainfield.

“Market conditions indicate a readiness for inventory development, and we look forward to bringing a state-of-the-art facility to the Indianapolis area,” Doug Armbruster, regional development officer for IDI’s Cincinnati office, said in a prepared statement.

The IDI project is the first to take advantage of the automatic 10-year real property tax abatement, established in 2009 by the City of Indianapolis for World Connect sites at AmeriPlex, envisioned as an eight-building complex on 200 acres.

The World Connect project is expected to increase the tax base approximately $84 million over the 10 years.

IDI has tapped Indianapolis-based Summit Realty Group to market the building to prospective tenants.

IDI already owns more than 20 million square feet of industrial building space and manages a total of 50 million square feet.

 

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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