A Developing Story - Indiana Business Magazine

A Developing Story - Indiana Business Magazine

A Developing Story

Monday, January 12, 2009 - Indiana Business Magazine

November, 2008- Paraphrased Article

By: Shari Held

Central Indiana - Saxony, a 725-acre mixed-use development in Hamilton County, continues to grow by leaps and bounds. “Because of its scale and because of the long lead times in real estate, there’s quite a bit of activity at Saxony despite the gloomy overall economic environment,” says Richard Arnos, president of Toledo-based Republic Development.

Saxony’s Corporate Campus in Noblesville received a boost from the opening earlier this year of Simon Property Group Hamilton Town Center. While not part of Saxony, the new upscale retail center sits in the middle of the Saxony Corporate Campus. Earlier this year the four-story, upscale Cambria suites hotel, which caters to business travelers, broke ground. The new-concept hotel with 130 suites and a restaurant will open in 2009. Perkins logistics, LLC has opened its headquarters in Saxony’s Corporate Campus.

First Industrial Realty - Trust, a publicly traded REIT, has just completed two 80,000-square-foot Type II industrial buildings, and construction is underway for the second of Chicago-based Verus Partners’ 90,000-square-foot Type II industrial building.

Saxony Village in Fishers has also seen its share of development, with medical buildings being in the forefront. Phase I of Clarian Health Partners’ medical campus at I-69 and exit 10 recently broke ground. St. Vincent’s stand-alone emergency center opened earlier this year, and Community Health Network is located in the heart of Saxony Village.

The Bonn Building, a 36,000-square-foot mixed-use office building was completed at the beginning of the year and is in its leasing phase. Arnos reports that Saxony’s Corporate Campus is between one-third and one-half built out. “There’s a lot of definition to it now, and interest has accelerated”, he says. “The concept of Saxony is clearer, and it’s now easier to access with the opening of the new 146th street and improvements to the interchange and overpass. The same thing is true of Saxony Village. With Clarian now underway, road improvements are being made to Olio Road and State Road 238.”

To read the full article visit www.indianabusiness.com and click on the November issue.