NAI Hiffman represented Weiss Entities, LLC in the sale of an 8-acre land to Garmong Construction Services in Valparaiso, Indiana.
The land sale is located within Weiss Entities’ Class A, mixed-use development, The Lakes of Valparaiso. The Lakes of Valparaiso—upon full development—will include up to 800,000 square feet of modern industrial, office, and retail development and over 400 apartments.
The apartment component of the project is underway with a number of apartments already leased.
With the acquisition of the 8-acres within the park, Garmong plans to design, construct and provide the financial capital necessary to develop an 80,000-square-foot spec industrial facility on the site; Construction will begin this quarter and is projected to be completed by the end of 2016.
The upscale 80,000-square-foot shell building will be constructed out of pre-cast concrete, with 32′ clear ceiling height, and will incorporate numerous flexibilities to accommodate not only a high-performing company from a wide variety of industries, but will allow the building to accommodate a number of different business models.
Garmong’s commitment to the City of Valparaiso is to afford prospects the ability to begin to place equipment within the structure within 90 to 120 days of an executed acquisition agreement.
In the event that more square footage is needed by a prospective tenant, the shell building can be expanded. Weiss Entities has also retained substantial additional acreage within The Lakes of Valparaiso to deliver industrial and office build-to-suit projects ranging from 50,000 to 500,000 square feet.
Kelly Disser, executive vice president, and Chris Gary, senior vice president, with NAI Hiffman’s Industrial Services group, represented Weiss Entities in the land sale.