Ambrose breaks ground on two modern industrial buildings at Plainfield Innovation Park in premier Greater Indianapolis submarket

Milestone marks the start of Phase I construction at 720-acre master-planned business park, which will bring new development opportunities to one of the Midwest's most established and in-demand logistics submarkets

INDIANAPOLIS - Ambrose, a vertically integrated real estate investment manager specializing in the acquisition and development of modern industrial, logistics and e-commerce real estate, today announced the groundbreaking of Buildings I & II at Plainfield Innovation Park, a 720-acre, modern business park in Plainfield, Indiana, a southwest suburb of Indianapolis. The groundbreaking follows the recent announcement of a $138 million investment by Boston Scientific Corporation (NYSE: BSX) to develop a new 500,000-square-foot medical device distribution and light manufacturing facility at Plainfield Innovation Park.

"For more than ten years, we have worked closely with the Town of Plainfield to assemble land and advance a thoughtfully designed, state-of-the-art business park that will support innovation, job creation and long-term economic growth for Plainfield and the state of Indiana," said Executive Vice President and Chief Operating Officer Grant Goldman. "We are proud to celebrate this important milestone for Plainfield Innovation Park, grateful for the partnership of the Town and the State of Indiana and excited to bring this project to life in a way that creates long-term value for future occupiers and the local community."

Building I will be approximately 181,000 square feet, while Building II will be approximately 217,000 square feet, each including a 2,925-square-foot office area and minimum divisibility of 50,000 square feet. The buildings are targeting LEED Silver certification and feature 32-foot clear heights and ample power services. Construction on both assets is expected to be completed in Q1 2027.

Upon completion, Plainfield Innovation Park will include approximately 14 bulk modern industrial buildings across 720 acres in one of the most sought-after industrial submarkets in the Midwest region. The project, which is currently the only speculative industrial development under construction in the Plainfield submarket, is designed to strategically support regional and national industrial, logistics, advancing manufacturing and technology and research operations.

"Plainfield is considered one of the most advantageous industrial submarkets in the Midwest thanks to its favorable supply and demand dynamics, strong interstate highway connectivity, proximity to key regional and global logistics hubs and access to a labor force of nearly 200,000 skilled workers," said Ambrose Senior Vice President of Investments Stephen Lindley. "With Plainfield Innovation Park, we are advancing the development of modern, high-quality spaces designed to serve the evolving distribution, logistics and manufacturing needs of regional, national and global occupiers in a market with demonstrated demand for new industrial space."

Situated along Interstate 70, a primary east-west corridor connecting major markets across the U.S., Plainfield Innovation Park is ideally positioned for local, regional and national distribution networks. The park is located just under five miles from the Indianapolis International Airport, home to the world's second-largest FedEx hub, and just seven miles from I-465, which provides convenient access to I-65, I-69, I-70 and I-74, placing the property within a one-day drive of approximately 50% of the U.S. population.

"Plainfield Innovation Park represents years of thoughtful planning, strong partnerships and a shared vision for our community's future," said Plainfield Town Council President Robin Brandgard. "We're proud to celebrate this milestone with Ambrose as they continue investing in Plainfield. This development strengthens our position as a premier location for advanced manufacturing, logistics and innovation while creating opportunities for quality jobs and long-term economic growth. It's exciting to see a vision years in the making become a reality, and we look forward to the positive impact Plainfield Innovation Park will have on our residents, businesses and the region for generations to come."

The general contractor on Phase I is Compass Commercial Construction Group, with design/architect services provided by ATA Architects, LLC. The Indianapolis-based Cushman & Wakefield team is handling leasing and marketing for the park. Ambrose has partnered with Lake City Bank on construction financing for Phase I of the development.