The Opus Group has started constructing a $10.9 million speculative industrial building on the west side of Indianapolis, the Minneapolis-based developer announced Wednesday.
Opus is building the 433,000-square-foot warehouse at 3901 Hanna Circle in the Airport Business Centre, off Kentucky Avenue inside the Interstate 465 beltway and just south of the Interstate 70 interchange.
The roughly 26-acre site qualified for a seven-year tax abatement from the city, said Douglas J. Swain, vice president and general manager of the Opus Development Co. LLC division.
“The rare and desirable location offers many advantages to future users with close proximity to the airport and major shipping hubs, as well as to the labor pool and public transportation,” he said in a written statement.
High demand for industrial space in the metropolitan area is prompting more developers to build warehouses on a speculative basis.
Opus began building the facility last month and expects to complete construction in February. The building will accommodate a single or multiple tenants and will feature 32-foot ceilings and 40 loading docks with four drive-in doors.
The building will be owned by a joint venture between Opus Development and Founders Properties LLC.