News release from the City of Fort Wayne:
Latest Shell Building Set to Accelerate Economic Development Efforts in Community
(May 10, 2019) – Construction on Fort Wayne’s latest shell building is now underway. Fort Wayne Mayor Tom Henry, Fort Wayne Redevelopment officials, and representatives from GH Land Company, LLC (a new partnership involving Jeff Hagerman, Ryan Rans, and Brad Toothaker) and The Hagerman Group broke ground on the property at 8611 Avionics Drive this afternoon.
Shell buildings spur economic growth by providing build-out ready buildings for businesses that are locating or expanding in Fort Wayne. Since 2013, the Fort Wayne Redevelopment Commission has partnered with the private sector on five local shell buildings including the one on Avionics Drive; three are occupied and one is still under construction.
“This latest shell building will make us even more competitive in attracting new jobs and growing our economy,” said Mayor Henry. “Businesses no longer want just shovel-ready sites, they now want buildings they can complete to their specifications as quickly as possible.”
“Both Great Lakes Capital and The Hagerman Group have a track record of effective public- private partnerships that have produced catalytic projects for communites. The combined efforts of Great Lakes Capital, The Hagerman Group and the City of Fort Wayne will provide an important economic development tool for Fort Wayne,” stated GH Land Company Managers Jeff Hagerman and Ryan Rans.
The new building will be located on a 20.36-acre site near Fort Wayne International Airport with easy access to I-69 and I-469. It will offer 150,000 square feet and can be expanded to 240,000 square feet. The project will be substantially complete in the last quarter of 2019.
The other shell buildings include two near the intersection of Goshen Road and I-69 that are now occupied by NISCO and ABC Supply Company. In 2017, Faurecia Clean Mobility opened its new production facility in a shell building located at 4510 Airport Expressway, bringing more than 140 jobs to the area.The fourth shell building is under construction at 9107 Yeager Lane.
The Fort Wayne Redevelopment Commission participates in the projects by reimbursing the developer for the interest on its construction loan for up to five years.
“These shell buildings fuel job creation and retention,” said Nancy Townsend, Redevelopment Director. “The positive economic impact demonstrates why it’s so important to partner with the private sector by lessening some of the risk for the developers. Without the partnership, this work would not get done.”
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