A Pittsburgh-based development and management company has broken ground on a 210,000-square-foot facility at the River Ridge Commerce Center in Charlestown. MR3 Development says it is marketing the industrial building for use by a manufacturing, technology, e-commerce or food production businesses.
MR3 Development, which also has an office in Indianapolis, acquired the more than 15-acre site in April 2021. The company said at the time the sale would generate nearly $1.7 million in proceeds for River Ridge.
The new building is MR3’s first foray in the Louisville/Southern Indiana market. The company currently has active projects in six other states.
“We are excited to make this significant investment at the River Ridge Commerce Center,” MR3 Managing Director Andrew Molnar said in written remarks. “This is a rapidly growing area, and we are thrilled to become part of the family of companies and developers contributing to its success.”
A tenant for the building as not been announced, but construction is expected to be complete by October.
Indianapolis-based Peterson Co. is the general contractor for the project.