The Noblesville Common Council approved economic development agreements at its Nov. 8 meeting with Equicor to construct three speculative industrial buildings. Equicor is a nationally recognized real estate development and investment firm based in Carmel.
Two of the buildings, totaling 500,000 square feet, will be constructed at the southwest corner of Olio Road and 146th Street. A 115,000-square-foot building will be constructed in the Saxony Corporate Campus in southeast Noblesville near I-69. The project has a capital investment of $50 million. All three buildings total 615,000 square feet of flex space. Buildings will open in 2023, 2024 and 2025.
“More and more businesses are looking at Noblesville to start-up, relocate or expand. Having open building space in addition to shovel-ready real estate options make our city even more attractive to businesses who are looking to call our fast-growing community home,” Mayor Chris Jensen stated. “I appreciate the Noblesville Common Council’s forward-looking mindset and proactive approach to attract new businesses.”
Equicor and the City of Noblesville will market the buildings to attract tenants in industries such as advanced/light manufacturing, wholesale trade, life sciences innovation, health technology and professional, technical or financial services.
“This is a viable and marketable project that will attract the types of businesses we at the city want to bring to our community,” Noblesville Economic Development Director Andrew Murray stated. “Combined with our workforce, quality of life and connectivity, Equicor adds one more piece to our portfolio to attract new employers with high quality space that is in short supply today.”
In addition to the economic development agreement, the council approved real property tax abatements. When the project is complete, Equicor anticipates creating at least 200 high-wage jobs.