News release from Do it Best:
Electric Works finalizes 200,000-square-foot lease with anchor tenant Do it Best
(July 29, 2020) – Do it Best has signed a lease to become the anchor tenant at Electric Works, enabling the largest privately held company in Indiana to maintain Allen County as its global headquarters and grow its team in the coming years.
The lease calls for Do it Best Corp. to occupy approximately 200,000 square feet of space on multiple floors in Building 26 on the project’s West Campus, with the ability to add up to 20,000 square feet more if needed for expansion. Do it Best will move into Electric Works as soon as construction is complete on West Campus, which is expected to be in the second half of 2022.
“This lease signing demonstrates again our commitment to Electric Works and the team behind it – this transformational project provides us a unique opportunity to enhance and expand our already great team,” said Do it Best President and CEO Dan Starr. “I’m excited by the significant amount of progress the development team has made the past several months, I’m inspired by their vision for this project and its potential impact on our community, and I’m confident that we’ll be celebrating the start of construction on our new home very soon. I’m hopeful that our signing of the lease gives the project, which will benefit the entire region, every chance to succeed.”
In addition to providing the company’s employees a more collaborative, open and efficient work environment, Electric Works will strengthen Do it Best’s ability to retain and attract skilled talent from across the country in an increasingly multigenerational labor market.
“Keeping a company like Do it Best in Allen County is vitally important to the long-term growth of our region,” said a joint statement of support from the Allen County Board of Commissioners. “The Do it Best leadership team recognizes Electric Works as the only place in Allen County that can serve their needs and provide the platform for their continued growth and success. Their continued presence in Allen County is a great thing for northeast Indiana.”
Do it Best is one of several of northeast Indiana’s largest and most prominent employers to secure space at Electric Works, with others including Parkview Health, Fort Wayne Metals and Fort Wayne Community Schools.
“This project has a unique chance to change the perception of people around the country of what Fort Wayne and the region can do,” said Parkview Health CEO Mike Packnett. “It will build confidence in companies and talent to more strongly consider Fort Wayne when looking at places to expand or relocate. And, just as importantly, it provides key regional employers like Do it Best and Parkview the ability to attract and retain our own talent here in northeast Indiana. We’re thrilled to welcome Do it Best to Electric Works and are thankful for their prominent support and commitment.”
“As with Do it Best, our ability to leverage important resources and programming around innovation, entrepreneurship and collaboration is critical to our future success and growth, added Scott Glaze, CEO of Fort Wayne Metals. “The commitment of Do it Best gives us even more confidence about this project getting to closing and starting construction this fall.”
Do it Best Corp. is the largest privately held company in the state of Indiana and the only U.S.-based, member-owned comprehensive and fully integrated hardware, lumber and building materials buying cooperative in the home improvement industry. With annual sales nearing $4 billion, Do it Best Corp. serves thousands of member-owned locations across the United States and in more than 50 other countries.
Construction at Electric Works is scheduled to begin this fall pending approval from the City of Fort Wayne under the Economic Development Agreement. The project is estimated to create nearly 2,000 jobs during the two-year construction phase. Fort Wayne-based Weigand Construction will be general contractor, and Fort Wayne-based Bona Vita Architecture has designed interiors of the new Do it Best headquarters at Electric Works.
For more information on Do it Best Corp., visit its website at doitbestonline.com.
About Electric Works
Electric Works is a mixed-use district of innovation, energy and culture, developed as a public/private partnership between RTM Ventures and the City of Fort Wayne. A redevelopment and reuse of the former General Electric campus in downtown Fort Wayne, Electric Works includes 39 acres, 18 historic buildings and more than 1.2 million square feet of space for office, educational, innovation, retail, residential, hotel and entertainment uses. For more information, visit the Electric Works website.