by Caitlin Bowling
America Place bought another swath of land at River Ridge Commerce Center, a roughly 6,000-acre industrial park in Jeffersonville, Ind.
The commercial real estate developer and business park company paid $2.3 million for the undeveloped 52.5 acres located at the intersection of Salem Road and Trey Street.
The property will house a 200,000-square-foot facility before the end of 2015, according to a news release.
With the new purchase, America Place now owns 150 acres at River Ridge, and the company will spend more than $100 million to develop its properties there.
America Place is about to finish construction on a 253,000-square-foot facility at River Ridge. The company is in negotiations with several possible tenants and expects to have a lease signed soon.
And prior to that, it built a 150,000-square-foot space at River Ridge that now is leased to Illinois-based automotive supplier Tenneco Inc.
“We love this location and are continuing to invest in its future,” Debbie Smith, managing director of America Place, said in the release. “The East End Bridge – just about 2 miles from our campus – will create a new corridor for commerce and logistics between Indiana and Kentucky when it opens next year.
“As the bridge takes shape, numerous businesses are telling us they want to be near this new corridor because it will improve access to the entire region,” she added.
According to the release, America Place is working with One Southern Indiana, the state of Indiana, and the River Ridge Development Authority to attract new businesses that are primed for growth.
This is just the latest in continued growth at River Ridge; in May, IL reported the business park had at least eight major deals on the horizon, with more than $50 million slated to be spent on build out alone at the park this year.
Article Originally posted on Insider Louisville.