Construction Underway on Lebanon Warehouse
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based GDI Construction is working with Kansas City-based Northpoint Development are working together to build a $25 million spec warehouse in Lebanon. The announcement adds to a series of recent new developments in the Boone County city, including a Hachette Book Group expansion and a Computer Numeric Control training center. July 23, 2014
News Release
Indianapolis, Ind. — Northpoint Development and GDI Construction announce immediate plans to construct a 741,000-square-foot expandable to 1,000,000 square feet), 36’ clear, warehouse and distribution facility in Lebanon, Indiana. The 67 acre site is located on the
northwest side of Indianapolis, one of the most active warehouse and distribution sub-markets in Indianapolis, at I-65 and State Road 32. Site grading and infrastructure work has commenced, allowing occupancy in the fourth quarter of 2014. The building has also been granted a ten-year
tax abatement.
Bob Gude, project executive for NorthPoint, stated, “We were very impressed with the City of Lebanon; Mayor Lewis, the Lebanon Planning Commission, the Lebanon and Boone County drainage boards, and the City and County staffs were all very helpful and supportive of our efforts and the project.”
The excellent infrastructure capacity of Lebanon and the central Indiana area will prove to be greatly beneficial to prospective tenants of the new facility. The advantages of this location include proximity to a large and qualified workforce, proximity to the FedEx hub in Indianapolis, access to Chicago's inland ports, and access to approximately 70% 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, and have been selected for leasing of the building.
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: CBRE Group Inc.