Shovels are Turnin’ – Uncovering Opportunity

Shovels are Turnin’ – Uncovering Opportunity

As gilded shovels ceremoniously turn the earth, new opportunities for business are brought to the surface. There’s been a lot of that lately, especially with the frequent rounds of good news coming out of Indiana’s business parks.

The last few months have brought expansions, development of new parks, and land acquisitions intended for future developments. We’ve gathered a snapshot of the highlights for you to check out.

 


New Tech-Focused Medical Park Takes Shape

Central Indiana Orthopedics

MedTech Park is a new business park under development in Fishers, located near 136th Street and I-69. Over the last few months, construction on the first of what will eventually be multiple medical offices and facilities on the site’s 37+ acres has begun. The intent is to develop a technology-focused medical campus. Plans for the park include additional medical office developments and quality-of-work amenities to attract talented medical professionals to the community.

The new facility of Central Indiana Orthopedics, the developer of the park, was the first project to start construction. The new, state-of-the-art facility will include a clinic, surgery center, imaging, and physical therapy – among other services. The medical-office building will house the company’s Fishers-based operations, currently located in St. Vincent’s Hospital.

“The MedTech Park vision is to attract a critical mass of innovative medical service providers and ultimately be a regional destination for those in need of expert care,” said said Dr. Nimu Surtani, President of Central Indiana Orthopedics.

Central Indiana Orthopedics selected Indianapolis-based, Envoy, Inc. as construction manager and development partner for MedTech Park. The facility is expected to be complete late 2019.

Urology of Indiana

Also, just after the first project at the park began, Urology of Indiana held a groundbreaking for its new Center of Excellence. The facility will offer the full spectrum of outpatient urologic care including general urology, specialty consultations, in-office procedures, imaging, vasectomy services, and more.

The 22,000 square-foot office will accommodate up to 12 Urology of Indiana providers and multiple urologic service lines at one time. The company anticipates opening the building to patients in November 2019. Northwest Radiology Network is partnering with Urology of Indiana to offer advanced imaging in the adjacent building. Services will include MRI and CT services with transparent flat rate prices for residents of Fishers and the surrounding communities.

Fishers Mayor Scott Fadness said, “The MedTech Park campus will be a destination for medical services, not only for Fishers but for Central Indiana, and the addition of Urology of Indiana and Northwest Radiology perpetuates that vision.”

 


Michigan City Annexes 426 Acres for Development

Approximately 426 acres of land in Northwestern La Porte County is now available for continued economic development. The acreage runs along U.S. Highways 35 and 20 as well as Interstate 94. Due to its proximity to regional roadways, Michigan City officials have said the land is most suited for manufacturing buyers including large distribution/warehouse/logistics businesses. Air transportation is conveniently located down the street with access to the South Shore, or NICTD, railroad.

There are additional sites available for retail, commercial, hotel and office space.

Michigan City Mayor Ron Meer said, “I believe it is paramount that our goal is to make Michigan City, and in this particular case, this property, attractive and ‘shovel ready’ for potential investors and developers. With its ideal location and proximity to rail spur, I-94 and I-90, I believe this property provides an excellent opportunity for a manufacturer or investor to utilize and develop.”

The parcels of property within the newly-annexed area are owned by six entities who voluntarily petitioned the city for annexation as a means of gaining access to city services, including sewer and water.

 


Shell Building in Development at Warsaw Tech Park

The Warsaw Tech Park is expanding with the development of a new shell building. The park is a multi-phase “shovel ready” business park that offers flexible lot sizes, underground utilities, offsite retention, and stoplight access to US Highway 30. It is among only two dozen locations to receive “Certified Technology Park” designation from the Indiana Economic Development Corporation.

“Warsaw Tech Park is an example of the public-private partnerships that can propel our community forward,” said Warsaw Mayor Joseph M. Thallemer, “We look forward to continued development at this “best-in-class” business park.”

Phase I of the park opened in 2015 with nearly 40 acres offering flexible lot sizes. Phase II will open in 2019 and will add more than 50 acres offering the same amenities and lots with US Highway 30 frontage.

West Hill Development has begun construction on a 50,000+ square foot shell building that will be available in spring 2019. Building specifications include pre-cast concrete walls roughly 25 feet in height.

Construction of this shell building follows development of a previous shell building now leased to Patrick Industries. Other companies located in the Warsaw Tech Park are Banner Medical and Winona PVD Coatings. These companies have committed to create or retain approximately 300 jobs and invest upwards of $40 million in buildings and equipment.

Category Features, Real Estate