Local developer inks deal to buy 17-acre site from airport

Indianapolis-based developer Strategic Capital Partners plans to purchase a 17.3-acre tract of undeveloped land in Plainfield from the Indianapolis Airport Authority, but the developer isn’t yet saying what it will do with the site.

The wooded parcel, which has not yet been assigned an address, is between Perry Road and Airtech Parkway. The Shops at Perry Crossing and the Plainfield Commons shopping center are west of the property. A residential street, Clover Drive, is just north of the property, and several large warehouses are to the south and east.

The airport authority approved selling the property earlier this month to Strategic Capital for $494,076, or $28,500 per acre. The deal has not yet closed.

The airport has been selling off land over the past few years as part of a larger strategy to divest itself of unneeded acreage.

Strategic Capital officials declined to say how it will use the Plainfield site.

Founded in 2005, Strategic Capital Partners acquires, develops, redevelops, manages and disposes of institutional, commercial and apartment projects both locally and out of state. Its leadership includes Executive Chairman Gene Zink and CEO Richard Horn.

The firm has partnered on projects including Metro Air Business Park in Plainfield, at the northwest corner of Ronald Reagan Parkway and Stafford Road;  65Commerce Park, an 80-acre industrial park in Whitestown; Riverview Apartments, a workforce housing development in partnership with Goodwill of Central & Southern Indiana just west of the White River downtown; and student housing at the University of Indianapolis.

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