On Tuesday night, the Noblesville Common Council approved economic development agreements with Equicor to construct three new speculative industrial buildings: Two at the southwest corner of Olio Road and 146th Street totaling 500,000 square feet, and one in Saxony Corporate Campus totaling 115,000 square feet. This project has a capital investment of $50 million.
“More and more businesses are looking at Noblesville to start-up, relocate or expand,” Mayor Chris Jensen said. “Having open building space in addition to shovel-ready real estate options make our city even more attractive to businesses who are looking to call our fast-growing community home. I appreciate the Noblesville Common Council’s forward-looking mindset and proactive approach to attract new businesses.”
Equicor, a nationally-recognized real estate development and investment firm based in Carmel, and city officials will market the buildings to attract prospective tenants in industries consistent with the city’s desire to support certain targeted, high-wage employers, including tenants engaged in advanced/light manufacturing, wholesale trade, life sciences innovation, health technology and professional, technical or financial services. The project includes numerous architectural enhancements given its proximity to major roads and adjacent developments. The project includes three separate buildings totaling 615,000 square feet of flex space. Buildings are anticipated to be completed in 2023, 2024 and 2025.
Murray
“This is a viable and marketable project that will attract the types of businesses we at the city want to bring to our community,” Noblesville Economic Development Director Andrew Murray said. “Combined with our workforce, quality of life and connectivity, Equicor adds one more piece to our portfolio to attract new employers with high quality space that is in short supply today.”
In consideration for the investment commitment, the Common Council approved real property tax abatements as part of this project. Equicor anticipates the employment of at least 200 new high-paying, high-quality jobs.