Groundbreaking Set For $25 Million Spec BuildingPosted: Updated:
Officials will hold a ceremony Monday to mark construction of a $25 million speculative warehouse in Lebanon. The more than 700,000 square-foot facility is being built by Indianapolis-based GDI Construction and NorthPoint Development of Missouri. August 1, 2014
LEBANON, Ind. - Northpoint Development and GDI Construction will break ground Monday August 4, 2014 at 2:00 pm in Lebanon with immediate plans to construct a 741,000-square-foot (expandable to 1,000,000 square feet), 36' clear, warehouse and distribution facility. The 67 acre site is located just northwest of downtown Indianapolis. It's one of the most active warehouse and distribution sub-markets in the Indy Metro Area. The location will be at I-65 and State Road 32. Site grading and infrastructure work has commenced, which will allow occupancy in the fourth quarter of 2014. Bob Gude, project executive for NorthPoint, stated, "We were very impressed with the City of Lebanon; Mayor Lewis, the Lebanon Planning Commission as well as the Lebanon and Boone County drainage boards. The City and County staffs have all been extremely helpful and supportive of our efforts on this project."
City leaders say the new building as another excellent example of why so many companies are choosing the area. "When we talk with perspective businesses we find out quickly they've done their research," says Lebanon Mayor Harold "Huck" Lewis. "They realize that by locating in Lebanon they have access to a great, well-educated and dedicated workforce," stated Lewis. The mayor says Lebanon's highly rated school system and low cost of living are attractive to many companies and that jobs will continue to roll into Lebanon because of all it has to offer.
The builders say excellent infrastructure capacity in Lebanon and the central Indiana area will prove to be greatly beneficial to prospective tenants of the new facility. They say the advantages of this location include, not only, proximity to a large and qualified workforce but proximity to the FedEx hub in Indianapolis, access to Chicago's inland ports, and
access to approximately 70 percent of the nation's population within a one-day drive. The CBRE, Inc. team of Mark Writt and Tom Cooler worked with NorthPoint Development to locate this outstanding location for their first Central Indiana Bulk Warehouse facility. They have been selected as the leasing agent for the building.
WHO: GDI/Northpoint Construction – City of Lebanon
WHAT: Massive Spec. Building ground breaking
WHERE: Lebanon, IN I-65 & St. Rd. 32
WHEN: Monday August 4, 2014 @ 2pm
WHY: To construct a large warehouse to meet the growing needs of the area.
About NorthPoint Development
NorthPoint Development is a Kansas City based commercial real estate development firm with a principal focus on industrial and multifamily development. NorthPoint has acquired or developed over 5,500,000 sq. ft. of space and over 2,000 multifamily apartments representing $600,000,000 in investments. Visit www.beyondthecontract.com for more information.
About GDI Construction
GDI Construction, headquartered in Indianapolis, Indiana, creates real estate solutions across manufacturing, warehousing, distribution, retail, office, medical and institutional industries. Innovative and customized solutions reflect the company's desire to continually refine its construction standards in order to deliver to the exact needs of each client. GDI consistently produces high quality products within the owner’s scheduling and budget constraints. Additional information for GDI Construction is available at www.gdiconstruction.com.
About CBRE, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2013 revenue).CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com
Source: The City of Lebanon