July 3, 2023

2022 Industrial Real Estate Recap

Recap of Industrial Development at America Place in 2022:

Over the past 12 months, the Commercial and Industrial Real Estate sectors have continued to grow, despite economic challenges. This is no exception when it comes to America Place. We started several new projects this year ranging from the groundbreaking of construction in River Ridge, to renewed leases at our Business Park. Due to our strong team of passionate experts, we have been able to face the many challenges of 2022 and successfully accomplish several goals.

Winner’s Circle at River Ridge:

The winner’s circle has grown exponentially this year as we have added two more industrial warehouses to our portfolio. Our Phase 4 & 5 have come to life during the progression of the year.

In the first quarter of the year the foundations were laid for both the 420,000 SF warehouse and the 150,000 SF warehouse. Come June, the exterior walls for both warehouses were set in place. In July the interior beams were secured, and the roofing materials for Phase 5 had begun placement. Heading into September, the Phase 4 roofing process began while Phase 5 moved on to exterior painting. The last two months have included installing and turning on the electricity, turning on the water, and receiving a Certificate of Occupancy for both Phase 4 & 5. With the completion of these two developments in the Winner’s Circle, America Place will head into 2023 with over 1,322,515 SF of industrial warehousing in River Ridge.

These buildings have garnered much attention this year, and we are working with several perspective tenants. Our Phase 4 & 5 structures are purposefully and beautifully built, with speed bays in both buildings to meet the demands of modern warehouse systems. The 4 & 5 buildings have 36’ & 32’ clear heights respectively and all LED lighting ensures cheaper operating costs and lower maintenance cycles. These warehouses have great parking lot, and truck dock, access to meet our tenant’s shipping requirements. Centrally located within River Ridge, trucks and workforce alike will have multiple ingress & egress options for these properties.

Office Project at River Ridge:

Our office project that was completed at the end of 2021, meant new beginnings for our tenant, PharmaCord. At the beginning of 2022, they moved out of our third-floor office space at The Gallery and started their journey at their new Phase 8 Build-to-Suit office. Over the course of the year, they have continued a fast growth pace, and we have made some adjustments to the property to better aid their needs. Over the summer, we added a walking trail, additional outdoor seating with shade poles, and an additional parking lot.

The PharmaPath, or walking trail, was added behind their building as an outdoor exercise and community focus point. The employees enjoy taking a few minutes to recharge in the fresh air and connect with their peers. The short 5 to 10-minute walks can lead to increased productivity throughout the day, which could be why the company announced a huge growth this next year adding nearly 500 employees to their workforce. With the upcoming expansion, we were happy to provide 150 spots in additional parking to the side of the property.

Not only did we complete projects at the PharmaCord office space, but we also completed some projects at our own headquarters in River Ridge. In the late summer we installed a weather meter outside The Gallery at River Ridge. Now we can track temperature, wind speed, rainfall, etc. in real time from our direct location. This on-site information comes in handy when coordinating work with our vendors and partners. Check out our Weather Station link.

America Place Business Park:

Over the course of the year, we were able to replace three roofs and install all new water meters throughout the Business Park. These projects took a total of three months to complete. While we were making the park a better home for our tenant’s businesses, we also were fortunate to hold a tenant appreciation lunch. We were glad to bring back the lunch to show our appreciation for our loyal tenants as some of the companies that lease space in our Business Park have been doing so for as long as 36 years. We had a great turnout, complete with a catered lunch and games.

America Place’s Team:

The America Place staff has worked hard this year at The Gallery at River Ridge.

The headquarters has played host for several gatherings to support organizations who serve the community. We were fortunate to host One Southern Indiana’s Senator Young luncheon, where over 120 guests enjoyed a catered lunch and learned about Senator Young’s background and position on economic development issues. Another event held at The Gallery building was the Southern Indiana Metro United Way’s Breakfast, to host CEOs from the region in hopes to foster regionalism and community involvement. Not only have we hosted events, but we also were able to reach out to the community this year through donations and sponsorships. We were proud to support the Southern Indiana Junior Rodeo Association, the Jeffersonville High School Fall and Winter Athletic teams, and the National Child Safety Council to provide education programs.

Starting in June, we were also fortunate to have an intern. Dalton worked with our Operations and Development Manager, as well as our Maintenance Manager, to gain hands on experience in the industrial and commercial real estate field.

Overall, 2022 was booming at America Place with projects in every area of the business. We are so thankful for our tenants that keep us in business, the river ridge area that allows us to grow, and the great city of Jeffersonville for being the optimal location for over 35 years. We hope to have many more years of success and we are looking forward to what 2023 has in store for America Place.

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