The Indianapolis Airport Authority plans to sell a 38-acre parcel within the Fishers Metro Park to Indianapolis-based Scannell Properties to pave the way for a new distribution facility.
In May 2019, the Indianapolis Airport Authority and the city of Fishers partnered with Indianapolis-based real estate firm JLL to market 211 acres of vacant land surrounding the Indianapolis Metropolitan Airport at 9913 Willow View Road. Now, Scannell Properties is negotiating with an unidentified distribution company to construct a new build-to-suit facility on the northeast corner of 96th Street and Masters Road. Should those negotiations go well, the airport plans to sell the property to Scannell in March for approximately $4.2 million. It would be the first sale within Fishers Metro Park.
Debbie Reinheimer, a Scannell spokesperson, said she could not comment on the deal.
Marketing materials for Metro Park’s first phase depict four, two-story buildings with a combined 103,500 square feet of office space on the property Scannell is negotiating to buy. Because there have been no site plans filed with the city, it’s unclear how big Scannell’s distribution facility might be.
Though a large logistics and distribution space is a departure from what was envisioned in the marketing materials, Fishers Mayor Scott Fadness said Scannell’s project is well within the scope of the city’s intended use.
“Here in the near future, hopefully we’ll see it move forward,” Fadness said. “We think this project would be a catalyst for other development.”Fadness said the city has seen enough office development in its downtown and along the I-69 corridor that it is optimistic about the park’s future.
“What we’ve really turned our attention to is having a diversified economic base,” Fadness said. “There is still an opportunity to build some really cool corporate headquarters or campuses out there that might bring value to the space.”
Fadness said one of the great things about the city’s partnership with the airport is that neither entity is in a hurry to develop.
“There really was no specific deadline for turning dirt, so we can be patient and wait for the right projects to come along to develop and grow,” he said.
According to an Indianapolis Airport Authority memo, Scannell will retain rights to the sale for six months. If Scannell can’t complete its deal with the distribution center in that time, the company will have to bring an acceptable substitute to the Indianapolis Airport Authority and the city of Fishers for additional review and approval.
If Scannell can’t find a suitable replacement within those six months, the Indianapolis Airport Authority has the right to terminate that sale agreement.