Airport Land Sale Continues to be a 'Great Success'
The Indianapolis Airport Authority property director says its long-term initiative to sell thousands of acres "has been a great success." In an interview following last week's board-approved sale of two parcels for nearly $9 million, Eric Anderson said he expects more success "on the horizon." The most recent deals total around 150 acres in Plainfield, which could be developed in a similar fashion as other nearby industrial and logistics industry-focused properties.
He says multiple key properties are still available. "At play, we have about 2,400 or 2,450 acres out of our 3,200 acres that have either sold, pending or are what I refer to as conservation land," Anderson told Inside INdiana Business. He says is he excited about the prospects of two properties, in-particular. One is 250 acres that the airport is partnering on with Indianapolis-based Holladay Properties that he says could serve aviation or even advanced manufacturing or research and development purposes. The other is 128 acres that used to be part of the old terminal, which had been the focus of a proposed $500 million development that fizzled out early last year before the full request for proposal process was complete. Anderson says he has patience with potential deals involving the two properties. "It's going to take a little bit of time, because we're going to be a little picky about what goes into those areas."
In March, the airport issued a Request for Information seeking a consultant for its land use and development strategy. Anderson says a consulting agreement will go before the board in June.
The two recent sales approved by the board are for more than 48 acres to Prologis LP for $2.55 million and over 97 acres to SCP Acquisitions for $6.2 million.
Editor's note: a previous version incorrectly said "hundreds of thousands of acres" in the first sentence.