Whiteland Approves Tax Abatement for Warehouse Projects
(photo courtesy of the Daily Journal)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowJohnson County continues to see expansion in its logistics sector as the developers of three proposed warehouses receive economic incentives.
Our partners at the Daily Journal report the Whiteland Town Council has approved two tax breaks totaling $10 million for the construction of three speculative buildings west of Interstate 65.
Atlanta-based developer Core5 Industrial Partners plans to build two industrial buildings in Whiteland, totaling 1.6 million square feet.
The publication says Core5 plans to invest $70 million in the project and asked the town council for a $6.7 million 10-year real property tax abatement for the buildings.
Construction on a 500,000-square-foot warehouse would begin in 2023 while construction of a 1.1 million square foot facility would begin in 2024.
A second developer, Hines Acquisition of Chicago, also received tax abatement for a 1.1 million square-foot spec building in the same general area as the Core5 projects.
Hines says it will invest nearly $29 million in the project.
The publication says the two of the three warehouses will be the largest in Johnson County. There are currently no named tenants to the buildings.