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Revenue growth FY 2020 to 2022: 239%
2022 revenue: $585 million
Major increase: Becknell Industrial was a Fast 25 company in 2016, when its year-over-year growth (FY2014-16) was 85%. For the past three years, the company’s revenue has more than tripled. “We’ve benefited from the attention and growth within industrial real estate,” said Mark Shapland, CEO and president.
Getting speculative: Becknell’s focus has been as a build-to-suit developer for clients and tenants. But in the past couple of years, the company has done more spec building and is now heavily weighted to spec given the conditions of the marketplace, said Shapland, who joined the company in 2008. Becknell’s bread and butter are industrial buildings from 100,000 square feet to 1 million square feet, though it also has done a fair number of manufacturing projects, he said.
Do it all: Shapland describes Becknell as a one-stop shop that can help customers find the right location for their industrial buildings and then lead them through the process of getting the building constructed and opened. Becknell has in-house engineers and in-house architects, and it also has a general contractor. “We are cradle to grave in terms of the development process and the functions we serve.”
Markets: Becknell works in about 32 states, with a focus on 15-20 markets nationally. They’re mostly based in the southeast and Midwest, including a number of local projects, such as an ongoing one in Whitestown and plans pending in Greenwood.
Continue to grow: Shapland said he wants Becknell to grow in a measured way “and make sure we’re doing right by our capital partners and tenants—both where we’re not being overextended and still providing the level of service and attention to detail that we need to.”•
Check out more of IBJ’s ranking of Indy’s fastest-growing companies.
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