VanTrust Breaking Ground on Two More Speculative Buildings in New Albany
Spring is a time for new growth and that’s certainly ringing true for VanTrust Real Estate, LLC. The area’s most active developer, VanTrust, is set to break ground on two additional industrial buildings in New Albany, continuing its robust momentum in the New Albany International Business Park.
Innovation III is a speculative build of 302,400 square feet on 27 acres. New Albany 525 will be the largest speculative industrial building in the park at 524,524 square feet on 42 acres. Both buildings are expected to be delivered at the end of the year.
“Innovation III and New Albany 525 will meet the growing demand for high quality warehouse and manufacturing in the New Albany area. These projects demonstrate the incredible momentum we have in this region” said Phil Rasey, vice president of development at VanTrust. “Both buildings provide tenants a variety of spaces from 50,000 square feet to 524,000 square feet.”
Michael Loges, New Albany Economic Development Manager, “New Albany is a fantastic community in which companies can grow with high-quality infrastructure and access to top-tier talent. VanTrust has become a valued and trusted partner in the growth of the New Albany International Business Park. The completion and successful leasing of Innovation I, Innovation II and New Albany 315 is a testament to the success VanTrust has realized and bodes well for construction and leasing of the next buildings planned.”
Both buildings will have Red Architecture as the architect and EMH&T as the civil engineers. Gordian Construction is the general contractor for Innovation III and Pepper Construction is the general contractor for New Albany 525.
Jeff Lyons and Weston Devore, of CBRE will represent VanTrust for New Albany 525. Rick Trott and Shelby Gumpf, also of CBRE, will represent VanTrust for Innovation III.