VanTrust to Break Ground on Ohio Industrial Project

VanTrust has added another industrial project to its development pipeline within Ohio’s New Albany International Business Park. The developer will start construction immediately on New Albany Tech Park, an industrial development situated on a 500-acre site in New Albany, Ohio.

The project will be located within New Albany International Business Park, a 6,000-acre business park being developed by The New Albany Co. that has already attracted more than $6 billion in private investment. Including New Albany Tech Park, Vantrust has a number of other projects that will be breaking ground before the end of 2022, all of which are expected to be completed by the end of 2023.

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New Albany Tech Park will be located just south of an upcoming Intel chip plant. Andy Weeks, executive vice president of VanTrust, said in prepared remarks that the industrial property will benefit from the infrastructure that’s currently underway at the Intel semiconductor manufacturing facility. Weeks also said in prepared remarks that the New Albany Tech Park would appeal to Intel suppliers and other companies.

Building out the business park

Along with New Albany Tech Park, VanTrust is currently working on its seventh and eighth industrial building in the city since 2019. Those two projects are both situated within the New Albany International Business Park. VanTrust broke ground on Innovation III, a 302,400-square-foot speculative industrial building, and New Albany 525, another speculative industrial project that will measure 524,524 square feet. Both developments are expected to deliver by the end of the year.

Bill Ebbing, president & CEO of The New Albany Co., said in prepared remarks that in most cases, VanTrust secures leases for the buildings in the business park before they’ve been completed. Outside its industrial projects in Ohio, VanTrust is also working on a pair of industrial parks totaling 2.5 million square feet, located in Avon, Ind., and Mount Comfort, Ind.