ALLEN COUNTY, Ind. (WANE) – The Allen County Board of Commissioners, Allen County Council, Allen County Redevelopment Commission and Silverado Hagerman Properties are partnering to construct two 150,000 square foot shell buildings in southwest Allen County.
In 2018, OMD Holdings/Silverado Properties purchased more than 148 acres of land south of the county’s Stonebridge Business Park and had it rezoned to General Industrial and Agricultural. Twenty-six acres were sold to Auto Truck Group for the construction of a 72,865 square foot facility that was completed in 2019.
“Silverado Properties envisioned the remaining acreage for additional industrial development and approached the county in March 2020 with its plan for shell building development,” the Board of Commissioners said.
The shell buildings will constructed concurrently and can each be expanded by an additional 75,000 square feet. The buildings will be constructed by The Hagerman Group.
“Silverado Hagerman Properties is pleased to be adding to the inventory of quality buildings in Allen County,“ said Todd Ramsey, Co-Manager. “The market for shell buildings in Allen County has been established over the past several years, and we’re excited to begin fielding inquiries from potential end users.”
The Board of Commissioners said it is providing reimbursement of the interest portion of carrying costs on the shell buildings for up to two years.
County Council is scheduled to consider a 10-year tax abatement on the shell portions of the buildings which are estimated to cost a total of approximately $16 million at its October meeting. Council members will also consider giving the Redevelopment Commission approval to enter into a lease and loan agreement for the carrying cost reimbursement.