Missouri-based Jones Development Co. has begun construction on a new business park in Johnson County. The 2.4 million-square-foot Whiteland Exchange will be located on 167 acres near I-65 in Whiteland.
Financial terms of the developer’s investment in the project were not disclosed. The business park is slated to include modern industrial buildings for logistics, advanced manufacturing and related uses. Work is underway on the first two speculative buildings, which total nearly 437,000 square feet and 169,000 square feet, respectively, and are expected to be complete in the first quarter of 2020.
"Jones is thrilled to kick off this exciting new development after a lengthy process including rezoning, site plan approvals, and coordination of nearly 1.5 miles of water extensions and extensive public-private participation," said Nick Jones, executive vice president of development at Jones Development. "We believe Whiteland Exchange will ultimately capitalize on user demand of all sizes as we’re positioned to deliver highly functional buildings from 169,000 square feet up to 1.2 million square feet."
Peter Seoane, senior associate at Avison Young, which is serving as the listing agent for the business park, says Whiteland Exchange will serve the mid-range bulk distribution user and the mid-sized industrial space user looking for 50,000 to 80,000 square feet of space.
"We’re excited to welcome Jones Development into our community," said Whiteland Town Manager Norm Gabehart. "The company has a stellar reputation for developing high quality industrial parks that create local and regional employment opportunities and provide new revenues for the communities they select to do business."
A timeline for the completion of the entire business park was not provided.