Exeter Property Group of Philadelphia has contracted Indianapolis-based GDI Construction Corp. to build a shell building, set to be more than 635,000 square feet. The building will be located near I-65 and S.R. 267 in Whitestown.
Situated in the heart of Indiana’s distribution market, the speculative building is expected to be completed in December. Plans call for it to be expandable by more than 365,000 square-feet. It will include 160 docks, 80 dock doors and four drive-in doors. There are two I-65 access points within two miles of this location.
Exeter Property Group is an industrial real estate private equity firm operating in the eastern half of the United States. Exeter and GDI have previously collaborated on other warehouse space at the nearby Whitestown Business Park.
Earlier this year, and for the seventh year in a row, Whitestown was rated the fastest-growing community in Indiana, according to the Indiana Business Research Center at the Indiana University School of Business. The report found the town’s population grew 7.6 percent in 2017.
“Due to our great location and accessibility to I-65 and other area interstates, Whitestown is an attractive area for businesses,” said Tanya Sumner, the town’s director of public relations. “Our residential and retail growth continues to boom as well. All are drivers of the others.”