Joint Venture to Develop 673,000 SF of Speculative Industrial Space in Indiana
A joint venture between Indianapolis-based Browning Investments and Real Estate Capital Partners will develop two bulk distribution buildings for Axcess70, a modern bulk distribution park located in Greenfield, Indiana.
Browning Construction, Inc. will break ground this month on two distribution facilities, totaling 673,000 square feet, situated adjacent to I-70, Indiana’s main trucking corridor. In support of this emerging submarket, Hancock County will begin construction on a new interchange at I-70 and the expansion of Mt. Comfort road to four lanes in 2009.
“This is a very exciting project for Browning,” said Dale Pfeifer, Director of Real Estate Development for Browning. “The park’s proximity to I-70 will be a powerful draw for business, and the County’s commitment to infrastructure tax abatement provides real economic advantage for our customers.”
The buildings are scheduled for completion in Spring 2009.
Founded in 1977, Browning is one of the premier development companies in Indianapolis and is engaged in the acquisition, development, construction, leasing, management, ownership and disposition of investment real estate properties.