The scarcity of industrial space in Northeast Indiana led Great Lakes Capital and The Hagerman Group to create a joint venture in 2019 to develop the 20-acre site near the Fort Wayne International Airport. The 150,000 square-foot building can be expanded to 240,000 square feet.
The Fort Wayne Redevelopment Commission assisted the developers through a reimbursement agreement that addressed interest expenses during construction and lease-up. Amazon Services, Inc. plans to utilize the site for a last-mile distribution center as part of their nationwide strategy to continually improve delivery performance.
Great Lakes Capital and The Hagerman Group are now moving on to their next development, which will consist of a similar shell building on the adjacent site to the Amazon building. Current plans call for groundbreaking yet this year, with completion as soon as possible in 2021.
“We are proud to partner with Amazon as they expand their footprint in Indiana,” said Mayor Tom Henry, City of Fort Wayne. “The new Amazon delivery station will bring additional jobs, revenue, and growth to our community. This is a great win for our local workforce, entrepreneurs, and our citizens.”
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“There is far more demand for industrial space than there is supply, and our team believes this shell building program will provide more move-in ready opportunities, particularly at a time when we are relying on more warehousing and distribution capabilities than before,” said Jeff Hagerman, Chairman of The Hagerman Group.
“We are proud that our partnership is going to have a positive economic impact on this community, bringing new jobs and investments to Fort Wayne,” said David Arnold, Managing Director and Principal, Great Lakes Capital. “Our team recognizes that productive public private partnerships are critical economic and community development tools in the competitive world of business retention and attraction."
