Pittsburgh-based MR3 Development has agreed to purchase a parcel of land at the River Ridge Commerce Center in Jeffersonville. The real estate development firm plans to build a 210,000-square-foot industrial facility.
MR3 says it bought just over 15 acres of land last month, which represents its entry into the Louisville/Southern Indiana region. MR3 has an office in Indianapolis and currently has active projects in six states.
MR3 says the sale will generate nearly $1.7 million in proceeds for River Ridge, which will be used for operations and infrastructure development. River Ridge Executive Director Jerry Acy says they welcome another developer to the center.
“MR3 has a strong track record nationally and will help River Ridge build connections in important industry sectors. MR3’s significant investment confirms once again that River Ridge is a great place to do business and a great place to call home,” said Acy.
MR3 says construction on its new facility is expected to be complete this fall.