THUNDERBIRD COMMERCE CENTER
CARMEL, INDIANA (August 17, 2022): Lauth Group, Inc. and Covington Group, Inc. have formed a joint venture to acquire and redevelop the former Ford Visteon site located at 6900 English Avenue in Indianapolis. The 150-acre± master planned industrial park will be branded Thunderbird Commerce Center with a nod to its former owner. Plans call for up to 2 million square feet of build-to-suit and speculative industrial buildings on the site, which is zoned for industrial development.
“Revitalizing a former Brownfield site in the heart of Marion County will energize additional development in the surrounding area and bring new jobs to the community,” commented Mike Jones, President and CEO of Lauth. “We have a great opportunity to partner with Covington Group to develop ground that has been idle for over a decade, turning it into a driver of economic value for central Indiana and the surrounding neighborhood.”
With unprecedented demand in the industrial sector, interest in the site is strong. The property features highly desired rail access along the western boundary of the property. Lauth worked closely with city and state officials during the acquisition phase to develop a plan that capitalizes on the vision for the site. The property is also located in an Opportunity Zone.
Mark Wasky, Indiana Economic Development Senior Vice President of Community Affairs remarked, “The revitalization of the former Ford Visteon site represents a unique opportunity for the City of Indianapolis and Hoosiers to create new opportunities for future growth and development for central Indiana. Projects like this are great examples of how Indiana is investing in building on our partnerships to provide opportunities for innovative businesses to grow and thrive.”
Lauth is working closely with one build-to-suit owner with plans to locate on 44 acres in the southwest corner of the Center. Plans also call for construction of a 608,000 SF modern industrial warehouse to be completed in 2023. Site development work will commence immediately.
The team of Mark Writt and Nikki Leahy, CBRE, are marketing the site on behalf of Lauth. For detailed marketing information, contact Mark Writt, mark.writt@cbre.com, Nikki Leahy, nikki.leahy@cbre.com. Information is also available on the Lauth website, https://lauth.net/properties/thunderbird-commerce-center-master-planned-industrial-park/
About Lauth
Built on a legacy of success that began in 1977, Lauth recently completed its 45th year in business. Lauth is a privately held, vertically integrated commercial real estate firm. With expertise in development, construction, property management and facilities maintenance, Lauth has completed more than 30 million square feet of industrial space valued at over $1.5 billion. Lauth was recently named to the Indiana Chamber’s 2022 Best Places to Work list. Visit lauth.net to learn more about the company.
About Covington Group
Founded in 1989, Covington Group specialize in the acquisition, development, and management of warehouse, distribution, manufacturing, and e-commerce facilities across the nation. Covington Group’s partners have more than 100 years of combined experience in commercial real estate and finance and have developed or redeveloped over 25 million square feet of commercial and industrial properties. To learn more about Covington Group, visit the company website, covingtongroupinc.com.
###
