MOUNT COMFORT, Ind. (Inside INdiana Business) — Indianapolis-based Ambrose Property Group has broken ground on a logistics center building in Hancock County.
The more than 500,000-square-foot facility is the first of four buildings being developed for e-commerce and logistics tenants along the Mount Comfort Corridor. The overall development represents a $78 million capital investment.
The facility will be expandable to more than 660,000 square feet, according to Ambrose. It will be on 166 acres of land near the Indianapolis Regional Airport.
The Hancock County Council has approved a 10-year tax abatement on all four buildings. Ambrose says the remaining three buildings will be developed as a combination of large and smaller buildings to attract a diverse range of businesses.
“As we continue to focus our business on industrial and e-commerce development, we are excited to be part of Mount Comfort’s visionary plan for thoughtful economic growth,” Grant Goldman, executive vice president at Ambrose Property Group, said in a news release. “Strong community engagement is the foundation of every project we pursue, and we chose this land because it was earmarked for exactly this type of development. We look forward to partnering with area residents and business leaders to create a space that benefits the community.”
The project comes as Hancock County officials are looking to develop the Mount Comfort Corridor to attract more businesses to the area. A study released earlier this year by the Washington D.C.-based Urban Land Institute identified several ways that goals could be achieved.
“The Mount Comfort Logistics Center is a key component of our proactive plan to prepare for the growth we know is coming to the Mt. Comfort Corridor,” said Randy Sorrell, executive director of the Hancock Economic Development Council. “We look forward to working with Ambrose to market this future-focused development to high-credit e-commerce and logistics tenants.”
Ambrose did not provide a time frame for the completion of the new logistics center.