IDI Announces 794,608-Square-Foot Development at AmeriPlex Business Park
State-of-the-Art Facility Will Be the Largest Inventory Building in Marion County
INDIANAPOLIS, May 16, 2012 – IDI, a leading industrial real estate company, announced today that the company’s Cincinnati office will develop a 794,608-square-foot building at AmeriPlex Business Park, adjacent to the Indianapolis International Airport. The construction, which will commence in the next two weeks, will mark the first new inventory industrial building in the greater Indianapolis market since 2008 and will be the largest inventory building in Marion County.
“Fruition of this development is great news for Indianapolis and a terrific fit for AmeriPlex,” said Indianapolis Mayor Greg Ballard. “We have worked to market the outstanding real estate at the business park, and IDI’s decision to develop this space is ideal not only for the company but logistically for the kinds of businesses we aim to land here.”
IDI World Connect Building 1 at AmeriPlex Business Park will be located at 6161 Decatur Boulevard in Indianapolis. The building is being designed to meet LEED specifications set forth by the U.S. Green Building Council, and is expected to deliver in December 2012. Characteristics of the facility will include significant office entry features, skylights and extra wide 60-foot structural bays.
“Market conditions indicate a readiness for inventory development, and we look forward to bringing a state-of-the-art facility to the Indianapolis area,” said Doug Armbruster, regional development officer for IDI’s Cincinnati office. “The park’s location next to the airport makes it a prime logistics hub, and we look forward to serving the needs of our future tenants in Indianapolis.”
The IDI project is the first to take advantage of the automatic 10-year real property tax abatement, first established in 2009 by the City of Indianapolis for World Connect sites at AmeriPlex. World Connect is an eight-building logistics and flex space spec project located on 200 acres on the city’s southwest side. Upon initial approval, the World Connect project estimated an increased tax base of approximately $84 million in assessed value over the 10-year period.
Additionally, each development will be constructed to Leadership in Energy and Environmental Design(LEED) certified specifications to be consistent with the City’s incentive to position Indianapolis as a leader in sustainable design and energy management.
Develop Indy, Indianapolis’ Local Economic Development Organization, will work with Cushman & Wakefield/Summit Realty Group, the listing agent for IDI, on efforts to lease the property. Andrew Morris and Andrea Hopper of Cushman & Wakefield/Summit Realty Group can be contacted at 317.713.2100.
About Cushman & Wakefield / Summit Realty Group
Summit Realty Group is a premier Midwest commercial real estate firm specializing in office, industrial, multi-family, capital markets, retail, land, property management, and corporate services. Summit is an independently owned and operated member of the Cushman & Wakefield Alliance – within the C&W platform, there are 117 total U.S. offices representing 60 markets and 243 offices globally.
For more information visit www.SummitRealtyGroup.com
IDI is a privately-held real estate company focused exclusively on industrial property. The company, headquartered in Atlanta, Georgia, provides development, investments, property management and leasing services to corporations, property owners, investors, financial institutions and real estate service providers. Valued at $1.8 billion, IDI is one of the largest privately-held logistics property companies in North America with ownership or interests in 32 million square feet of investment grade assets.
Since the company’s founding in 1989, IDI has built a reputation for delivering superior quality properties and service. To date, IDI has developed and acquired 143 million square feet of industrial space and completed more than 566 industrial facilities in the U.S., Canada and Mexico. The company’s investment portfolio, focused on building long-term value, holds more than 20 million square feet of assets and the company manages a portfolio of 50 million square feet.
About Develop Indy
Develop Indy is Marion County's local economic development organization. Develop Indy is dedicated to attracting new businesses, retaining and expanding existing businesses and serving as a catalyst for capital investment and quality job growth in Indianapolis/Marion County. Formed in 2007, Develop Indy is led by Melissa Todd, interim president. For more information about Develop Indy, visit www.developindy.com.