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. 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,” said Mayor Chris Jensen. “I appreciate the Noblesville Common Council’s forward-looking mindset and proactive approach to attract new businesses.”
Mayor Chris Jensen
Equicor, a nationally recognized real estate development and investment firm based in Carmel, and the city 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.
“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.”
Noblesville Economic Development Director Andrew Murray
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.
About the City of Noblesville: Noblesville is the 10th largest city in Indiana, home to more than 69,600 residents, and the county seat in Hamilton County, Indiana. Just north of Indianapolis, the growing city is known for its nationally recognized public schools, extensive public park system, Hamilton Town Center, and the outdoor music venue Ruoff Music Center.