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-square-foot modern industrial warehouse to be completed in 2023. Site development work will commence immediately.
