Ambrose breaks ground on two modern industrial facilities at Indianapolis Logistics Park – Northwest in Greater Indianapolis

Construction on Buildings V & VI kicks off Phase II of the industrial park's development amid sustained demand for quality bulk industrial facilities

INDIANAPOLIS - Ambrose, a vertically integrated real estate investment manager that specializes in the acquisition and development of modern industrial, logistics and e-commerce real estate, has broken ground on Buildings V and VI of Indianapolis Logistics Park - Northwest, a 104-acre modern industrial park located in Whitestown, Indiana, within Greater Indianapolis. The construction of the properties on a speculative basis commences Phase II of the park's master-planned development. Both properties are targeted for completion in summer 2027. This milestone follows the recent disposition of Building III at the park, which is fully leased to a global healthcare services and products company. The park's other existing buildings are also fully occupied, with Building I occupied by Safavieh, Building II by KattSafe and Royal Interpack and Building IV by Amazon.

"We originally broke ground on the first phase of this industrial park amid a general slowdown in the broader market for speculative development. Thanks to our conviction in the long-term need for high-quality bulk industrial product to meet occupiers' increasingly sophisticated needs, our investment thesis is bearing fruit as we continue to achieve critical milestones at this property," said Ambrose Senior Vice President of Investments Stephen Lindley. "Both of these buildings are designed to accommodate a range of modern industrial uses, from bulk distribution to light or advanced manufacturing. Combined with Greater Indianapolis' strong economic fundamentals and the site's access to major north-south and east-west interstate corridors, that flexibility positions the buildings to serve both local and regional occupier demand."

Once completed, Building V will offer approximately 182,000 SF of space for lease including 2,800 SF of office space with a minimum divisibility of 45,000 SF. The property, which is targeting LEED Silver certification, will feature a 32-foot clear height, a seven-inch-thick reinforced slab, 4,000 amps of power, dock-high and grade-level doors, and ample auto and trailer parking.

Building VI will offer approximately 765,000 SF of space for lease, including 2,800 SF of office space with a minimum divisibility of 380,000 square feet. The building, which is also targeting LEED Silver certification, will feature a 40-foot clear height, an eight-inch-thick unreinforced slab, 8,000 amps of power, dock-high and grade-level doors, and ample auto and trailer parking.

Situated within the Northwest industrial submarket of Indianapolis, the property is located just an eight-minute drive from I-465 via I-865, offering convenient connectivity to I-65, I-70, I-69, and I-74; and a 25-minute drive to Indianapolis International Airport, placing the property within a one-day's drive of 50% of the U.S. population. The general contractor on the project is Compass Commercial Construction, with design services provided by Curran Architecture and Kimley-Horn. The Indianapolis-based Colliers International team is managing leasing and marketing for the property. Ambrose has partnered with Fifth Third Bank on the construction loan. The offsite infrastructure work is being completed by The Peterson Company.