Southern Indiana’s River Ridge Commerce Center is on track to land another major tenant by early 2016.
By Marty Finley – Reporter, Louisville Business First
Jul 30, 2015 Updated Jul 30, 2015, 11:16am EDT
Lee Wilburn, president of Louisville-based Crossdock Development Inc., told Louisville Business First that he expects to close soon on the purchase of roughly 27 acres in River Ridge at $65,000 per acre.
Wilburn’s company will construct a build-to-suit warehouse there for a pharmaceutical distribution company he declined to name.
He also did not disclose any details on the number of jobs expected to be created or the overall investment by the company.
It will cost about $14 million to construct the approximately 315,000-square-foot warehouse, Wilburn said. There is room to expand it to about 460,000 square feet if needed.
The property is along Patrol Road north of the facility housing Swiss auto supplier Autoneum, which Wilburn also constructed.
If all goes as planned, Wilburn said he should be delivering the building to the unidentified company by March 1.
“We’re already applying for land-clearing permits,” he said.
He said he expects the tenant to announce its plans for the building soon.
Wilburn was in the news last week when Commercial Kentucky Inc. released information that Bose Corp., the Framingham, Mass.-based company that designs speakers, radios, sound systems and other electronic devices, is leasing 196,000 square feet at 800 Patrol Road. Wilburn owns and constructed that warehouse.
Neither Bose nor Wilburn has disclosed what the company is using the space for.
Lakeland, Fla.-based Saddle Creek Corp., a company that specializes in warehousing, transportation, logistics and packaging services, is the other tenant at 800 Patrol Road.
Wilburn told me in late June that the $28 million warehouse at 800 Patrol Road had two tenants taking up more than 500,000 square feet with only 148,000 square feet left to lease.
On Wednesday, WIlburn said that 148,000 square feet is the only leasable space he has left at River Ridge.
Crossdock is one of the largest owners and developers in the 6,000-acre business park.
In addition to the Autoneum and 800 Patrol Road projects, the company’s projects also include the Standard Register Co. building at 700 Patrol Road and a fulfillment center for Catamaran LLC and its specialty pharmacy division, BriovaRx.