Search
 

Lakes of Valparaiso Industrial Spec to Begin

VALPARAISO, IN—Weiss Entities plans a mixed-use development on the site, with modern industrial, office, and retail development and over 400 apartments.

By Brian J. Rogal | brianjrogal | | Updated on March 28, 2016

   

chi-Valpo_02 The mixed-use site will have industrial, office and residential when complete.
VALPARAISO, IN— Weiss Entities, LLC has just sold 8 acres of land in Valparaiso, IN, to Garmong Construction Services , which plans to design, construct and provide the financial capital for an 80,000-square-foot spec industrial facility on the site. This project will kick off the industrial portion of Weiss Entities’ class A, mixed-use development, The Lakes of Valparaiso. Construction will begin this quarter and Terre Haute, IN-based Garmong plans to complete it by the end of 2016.   Weiss officials say that when complete the development will include up to 800,000 square feet of modern industrial, office, and retail development and over 400 apartments.  Weiss has the apartment component of the project underway with a number of apartments already leased.   Kelly Disser , executive vice president, and Chris Gary , senior vice president, with NAI Hiffman’s industrial services group, represented Weiss in the land sale. Weiss still has substantial additional acreage within the development to deliver industrial and office build-to-suit projects ranging from 50,000 to 500,000 square feet.    “Kelly and Chris with NAI Hiffman were critical in identifying and securing Garmong as a purchaser of land and developer to construct the building that will kick off the industrial sector of The Lakes Corporate Park,” says Don Weiss , president of Weiss Entities. “This additional activity within the park will continue our momentum and we look forward to the future and successful development of The Lakes.”   Municipal officials recently said that they would extend a fiber loop providing dark fiber connectivity to the Lakes of  Valparaiso. W eiss officials add that the major thoroughfare providing north and south access through the park is now fully operational and all utilities have been delivered to the site. Garmong will construct the building out of pre-cast concrete, with 32′ clear ceiling height, and if needed, could expand it from 80,000 square feet. The builder has made a commitment to city to allow a tenant to begin placing equipment inside the structure within 90 to 120 days of an executed acquisition agreement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.