Broe Real Estate Group Completes Land Acquisition for New River Ridge Commerce Center Project
300,000 SF Spec Building Marks the First Industrial Development in Park's Northern Phase
JEFFERSONVILLE, Ind., Dec. 14, 2022 /PRNewswire/ -- Broe Real Estate Group (BREG), the multi-billion-dollar, Colorado based developer, has begun its first industrial development project within Southern Indiana's world-class industrial park, the River Ridge Commerce Center. BREG's 19.5-acre site will be anchored by a 300,000 square foot Class A industrial facility within the 6,000-acre global business park.
"Demand for high quality industrial space in the Louisville, Kentucky market is at an all-time high while vacancy rates within Southern Indiana and Kentucky remain at historic low levels," said Broe Real Estate Group's Executive Vice President Reagan Shanley. "This spec project brings critical supply online to serve the sustained market demand and the need for modern logistics space."
BREG's project will feature rear load access, 36-foot clearance, and generous trailer parking space to support the highly sought needs of logistics, manufacturing, research, and technology tenants. The park's rail infrastructure enhancements, provided by The Broe Group's transportation affiliate OmniTRAX, continues to expand with park development to unlock rail access, shipping efficiency and low-cost transportation for new tenants.
River Ridge's centralized location, with strategic access to the Louisville, Kentucky metro region and central US markets, continues to attract industry leading companies – including GE, Amazon, Bose, and Medline – in sectors that span aerospace, automotive, food and beverage, information technology, life sciences, and pharmaceuticals. The park's economic impact is as powerful as its strategic location, with an employee pool that exceeds 10,000 people and regional economic output of nearly $2.5B. Local Ford Motors and UPS facilities continue to expand and have a major influence on the region.
River Ridge Development Authority Executive Director Jerry Acy said of the project, "the River Ridge Commerce Center continues to be a magnet for growth thanks to our unparalleled logistics efficiencies and multimodal access to central US Markets. Broe Real Estate's debut industrial project in the north end of the Commerce Center is a major development milestone and will build upon our growing reputation as a world class location for business."
The new BREG project, planned to accommodate single or dual tenant occupancy, forecasts a summer 2023 construction commencement. Commercial Kentucky's Robert Walker and Greg Charmoli will lead leasing activity. The project design team includes architect Ware Malcomb and the engineering services of American Structure Point.
Broe Real Estate Group, an affiliate of The Broe Group, acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 50-year history of value-add real estate investing in Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. Additional information is available at broerealestate.com
Founded in 1972, The Broe Group is a private, multi-billion-dollar investment group with diversified holdings in real estate, rail, infrastructure, energy, agriculture, water, healthcare and technology throughout 37 North American states and provinces. Its deep operational knowledge derived from owning and operating multi-billion-dollar businesses and the global economic insights gleaned from serving its vast Fortune 500 clientele are strategic differentiators. The Broe Group's entrepreneurial focus enables it to find true value wherever it resides. For more information, visit broe.com.
As one of North America's largest and fastest growing private railroad and transportation management companies, OmniTRAX's core capabilities range from providing transportation and supply chain management services to railroad and port companies, to providing intermodal and industrial switching operations to railroads, ports and a diverse group of industrial companies. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. For more information visit omnitrax.com.
SOURCE Broe Real Estate Group
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