News and Tribune

May 15, 2013

River Ridge continues to add tenants

First retail space on the way?

By BRADEN LAMMERS
braden.lammers@newsandtribune.com

JEFFERSONVILLE —

River Ridge Development Authority Board members agreed to allow River Ridge Executive Director Jerry Acy to negotiate yet another deal for a company to locate in the commerce center.

A resolution was passed at a specially called board meeting Monday that allows Acy to negotiate a deal with a confidential commercial or industrial prospect.

The site in question is a 12-acre parcel next to a site where Capstone Reality is constructing a 500,000-square-foot building. The Capstone Reality site is located across Logistics Avenue, formerly Cox Street, from Amazon.com, Inc. fulfillment center.

River Ridge Director of Marketing and Finance Paul Wheatley said he could not comment on the potential tenant for the site, how many jobs the company might bring and when a deal is likely to be finalized as River Ridge is involved in confidential negotiations. However, the resolution outlines a 75,0000-square-foot building would be constructed at the location.

The 12-acre site joins a long list of sites under development and companies that have agreed to locate within River Ridge this year.

Another development project River Ridge has agreed to is anticipated to get under way soon.

According to a purchase and sale agreement obtained by the News and Tribune through a Freedom of Information Act request, River Ridge Retail 1 has agreed to purchase two acres in front of the NuYale property in the commerce center for $240,000.

River Ridge Retail 1 is owned by two local entrepreneurs — Max Zimmerman and Dave Richard — said Ryan Pennington, principal and CEO of Seven Development LLC, the purchasers’ broker for the property.

Pennington said plans include the construction of two separate buildings on the site. On the north side of the property the plan is to construct a two-story building with about 9,200 square feet on the first floor and another 8,500-9,000 square feet on the second floor. The building is expected to house up to four users.

A second building that could house one to two users is expected to be constructed on the southern portion of the property and total about 5,000 square feet.

Pennington said the company is already in negotiations to lease the properties, but would not divulge the names of any companies involved in the negotiations.

He added that the type of businesses that will locate in the site will be an amenity-based project.

“There’s not any nearby financial institutions, sandwich shops, those types [of things],” Pennington said. 

He added the site will be a retail solution for everyday needs and hopes to have deals finalized in June.

Among the other companies that have agreed to locate in the commerce center are Dayton, Ohio-based The Standard Register Co., which plans to locate in the former U.S. Census Bureau building along Patrol Road; American Fuji Seal Inc., which has initiated a purchase agreement with the River Ridge Development Authority to buy more than 23 acres of property located directly behind the Amazon.com center; and Amazon.com, which announced expansion plans in February to utilize its full 1 million-square-foot space.

In addition, development on several sites is under way. America Place at River Ridge has broken ground on its first building that would total 150,000 square feet of space. America Place also has plans for phase two and three of its development that would add a 200,000-square-foot and 320,000-square-foot building, respectively.

Crossdock Development Inc. has also begun work on a 666,280-square-foot building at 800 Patrol Road. The building is expected to be built in two phases, with the first phase totaling about 328,000 square feet.

And while no company has entered into a purchase agreement with River Ridge, the development authority is seeking to designate more than 1,500 acres in the commerce center as a megasite.

The hope is that with a megasite designation, River Ridge will be able to attract a large steel, chemical or automotive manufacturer to 1,500-2,500 acres in the former Indiana Army Ammunition Plant property.

 

SIGN PLAN ON THE WAY

The River Ridge Development Authority board was presented with a host of potential designs for signage at River Ridge.

Board members were asked to rank their favorites of 13 submissions in the package, including a round of designs submitted earlier in the year.

“It’s all of the submissions that we’ve received so far,” said River Ridge Engineer and Project Manager Marc Hildenbrand of the sign designs.

The proposals will be reviewed by the board and a recommendation will be presented at an upcoming meeting.