Ambrose Breaks Ground on Four-Building Logistics Center in Mount Comfort
6 Nov 2019
INDIANAPOLIS – Ambrose Property Group broke ground November 5, 2019 on the first of four buildings for e-commerce and logistics tenants along the Mount Comfort Corridor in Hancock County. The logistics center—located on 166-acres of land on the north side of West County Road 300N and west of North County Road 400W—totals a $78 million capital investment.
“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,” said Grant Goldman, executive vice president at Ambrose Property Group. “Strong community engagement is the foundation of every project we pursue, and we picked 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.”
On Oct. 9, the Hancock County Council unanimously approved a 10-year tax abatement on all four buildings. The first building will be a 508,098-square-foot logistics center that is expandable to 660,378 square feet. The other three buildings Ambrose plans to develop will be a combination of large and smaller buildings to attract a diverse range of businesses. The plan is flexible to accommodate potential users and clients’ needs.
A report released in January from Washington D.C.-based Urban Land Institute – guided by the Mt. Comfort Corridor Regional Development Plan – identified several opportunities for optimizing growth in the corridor, including:
Upgrading Mount Comfort Road as a boulevard with landscaped rights-of-way, roundabouts at major intersections, high-quality lighting, consistent signage, and a trail system that provides opportunities to walk and bike.
Making stunning “first impressions” at town and corridor gateways with landscaping, public art and high-quality signage.
Focusing economic development efforts to take advantage of the area’s rural heritage and convenient location, including agri-tech, agri-tourism, animal biomedical and advanced manufacturing.
“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.”
Mount Comfort has experienced nearly 40% growth in the past 12 months. It has an extremely strong labor market with 276,425 households within a 25-minute commute. It is also located less than one mile from Interstate 70, a major east-west interstate highway.
The Mount Comfort Logistics Center is currently for lease through CBRE. For more information, contact email@example.com or visit ambrosepg.com.