The trucking company will move from the east side of Indianapolis to Mount Comfort in Hancock County, where it will have room to grow and better access to Interstate 70 for its drivers.
The buildings will add 1.8 million square feet to the town’s already robust distribution market and will be built on a speculative basis, indicating healthy demand for such space.
The 2.2-million-square-foot development would add to the growing inventory of industrial buildings, which is causing vacancy in the sector to tick up.
A commercial real estate package consisting of eight warehouses and 42 acres of land in the Indianapolis area has been acquired in a deal estimated to be worth more than $144 million.
After receiving no bids for projects for the southwest corner at 106th Street and Bennett Parkway, the Zionsville Redevelopment Commission has agreed to sell the acreage to Indianapolis-based Scannell Properties.
Indianapolis Business Journal gathered leaders in the state’s commercial real estate and construction industry for a Power Breakfast panel discussion Sept. 10.
The Minneapolis-based developer is constructing the facility on a speculative basis, as demand for industrial space in the metropolitan area remains high. The building should be finished in February.
The new owner of 17 buildings in the southwest-side industrial park has filed to reorganize $12.6 million in debt as the lender seeks to foreclose.
Teagan Development has agreed to buy the 539,000-square-foot building near Mass Ave and the Monon Trail and plans to convert some of the space into restaurant and retail uses.
Granite Real Estate Investment Trust has entered Plainfield’s robust logistics and distribution market with a deal to buy two mammoth facilities and a prime plot of land.
The retailer has finalized a contract for state incentives on the 1.1 million-square-foot project, pledging to hire 303 workers by the end of 2015.
Local Initiatives Support Corp. has unveiled the results of a year-long study to identify the best uses for vacant industrial properties and what areas of the city need the most attention. Topping the list: the East Washington Street corridor.
The local developer hopes to lure a tenant for the massive warehouse in its Eaglepoint Business Park while the project is underway.
Ambrose Property Group has acquired 85 acres near the Indianapolis International Airport where it plans to spend $80 million to $90 million to develop two distribution centers as large as 1 million square feet each.