by Adriana Pop, Associate Editor
Atlanta-based Industrial Developments International Inc. (IDI) is planning the construction of its second building at the AmeriPlex Business Park, a large distribution facility adjacent to the Indianapolis International Airport.
According to the Indianapolis Business Journal, the company has recently purchased 26 acres within the park, where it plans to develop the new 460,000-square-foot structure. Plans also call for the acquisition of two additional development sites, which would increase IDI’s presence at AmeriPlex to four industrial facilities. Cushman & Wakefield/Summit Realty Group is the listing agent for IDI’s space within the complex.
In March, the company completed the construction of IDI World Connect Building 1, a 794,608-square-foot speculative industrial building at 6161 Decatur Boulevard.
The LEED-certified project marked the first new inventory industrial development in the greater Indianapolis market since 2008, as well as the largest inventory building in Marion County, the company said in a news release.
IDI World Connect Building 1 was also the first to take advantage of the automatic 10-year real property tax abatement, established in 2009 by the City of Indianapolis for World Connect sites at AmeriPlex.
“You have to have a tax abatement to be competitive, or we wouldn’t be building,” Doug Armbruster, senior vice president and regional managing director of IDI told the newspaper. “It’s just that important.”
Developed by Holladay Properties, World Connect is an eight-building logistics and flex space spec project located on 200 acres on the southwest side of Indianapolis. Upon initial approval, the World Connect project estimated an increased tax base of approximately $84 million in assessed value over the 10-year period.
According to Chris Wilkes, senior vice president and partner of Holladay Properties, IDI is the only industrial developer up until now that has shown interest in building at World Connect within AmeriPlex.
Photo credits: http://www.loopnet.com