Construction of the largest industrial building in Johnson County has started and will eventually be home to multiple bulk distributors, answering to a demand in central Indiana.
Sunbeam Development Corp., based in Fishers, is constructing a nearly 934,000-square-foot building on the east side of Franklin at Interstate 65 and State Road 44. Massive earthwork on the 64-acre site started about two weeks ago. When completed later this year, 20 acres will be under roof.
Cushman & Wakefield is marketing the building to companies that need a bulk distribution site, which has become a need across central Indiana. Franklin was selected because of its location and labor force, and also because the community and local government are seen as vibrant, hard-working and ready for the future, said Ken Kern, a vice president for Sunbeam.
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Franklin Mayor Steve Barnett researched the company when officials first approached Franklin, because this is Sunbeam’s first project in the county. He said the city was chosen in part because it has invested in itself.
“That’s what makes companies like Sunbeam what to come and invest in us,” Barnett said.
No tenants have been announced for the project yet. The company is spending nearly $19 million on the building alone, plus the cost of the earthwork and site preparation and the costs associated with finishing the interior to suit specific tenants.
The property is bordered by Aisin and Cooper Tires in the Franklin Tech Park.
Sunbeam got an initial 10-year tax break on the building, but future employers will be able to seek additional tax breaks. Because the building is speculative, no estimate of jobs or pay has been required. But considering the size of the building, 200 to 300 new jobs are possible.
Construction is on a fast track, and the building will likely be completed late this year or in early 2019, Kern said.
The city has used tax dollars and partnered with land owners and construction companies to build two shell buildings in order to have industrial space available for employers looking to locate or expand in Franklin. The space that will be available in the Sunbeam building means that the city will not need to build any future shell buildings, Barnett said.
