VanTrust inaugurates an industrial project in Ohio
Albany’s new technology park will be located near Intel’s semiconductor manufacturing campus.
Van Trust added another industrial project to its development pipeline at Ohio’s New Albany International Business Park. The developer will immediately begin construction of New Albany Tech Park, an industrial development located on a 500-acre site in New Albany, Ohio.
The project will be located in New Albany International Business Park, a 6,000-acre business park being developed by Albany’s new society. which has already attracted more than $6 billion in private investment. Including New Albany Tech Park, Vantrust has a number of other projects to launch 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 a future Intel chip factory. Andy Weeks, executive vice president of VanTrust, said in prepared remarks that IP will benefit from the infrastructure currently underway at Intel’s semiconductor fab. Weeks also said in prepared remarks that the New Albany Tech Park would attract vendors from Intel and other companies.
Development of the business park
With New Albany Tech Park, VanTrust is currently working on its seventh and eighth industrial buildings in the city since 2019. These two projects are both located in the New Albany International Business Park. VanTrust opened 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 should be delivered by the end of the year.
Bill Ebbing, president and CEO of The New Albany Co., said in prepared remarks that in most cases, VanTrust secures leases for business park buildings before they are completed. Outside of 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.