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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. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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