A massive business park planned by an Indianapolis-based developer is beginning to take shape in Monrovia, with two buildings now under way in what eventually could be a 6 million-square-foot complex devoted to logistics.
As envisioned by developer Ambrose Property Group, the 555-acre Westpoint Business Park eventually will include as many as nine warehouse and distribution buildings totaling more than 6 million square feet of space. Building sizes will range from 200,000 square feet to more than 1 million.
Construction already has begun on a building for its first tenant. Oklahoma City-based Love’s Travel Shops will buy a 207,000-square-foot tire retread and distribution center that’s expected to be finished early next year, Ambrose announced Tuesday. It wasn’t immediately clear Tuesday morning how much Love’s agreed to pay for the facility.
Ambrose also has broken ground on a 507,000-square-foot speculative warehouse scheduled for completion in February.
Westpoint is located northeast of the intersection of Interstate 70 and State Road 39, which is about nine miles west of Indianapolis International Airport and near the heart of central Indiana’s warehouse and distribution corridor.
“E-commerce and logistics are becoming more vital than ever, especially during COVID-19,” said Jason Sturman, president of Ambrose, in a media release. “Ambrose is proud to continue leading the way in bringing state-of-the-art industrial real estate to Indianapolis and the Midwest.”
Ambrose is offering space for lease as well as the opportunity for companies to buy space.
Westpoint is at least the third major industrial project Ambrose has announced since it backed out of its $1.4 billion Waterside project in September near downtown Indianapolis. In scrapping the expansive and multi-use Waterside project, Ambrose said it planned to focus on e-commerce and industrial developments.
In November, Ambrose officials announced development of a 166-acre industrial park near Mount Comfort in Hancock County. In December, it announced that it had broken ground on an 82-acre project in Plainfield.