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Incentivizing Speculative Development is Necessary in Today’s Economy

By Emily Ketterer | Originally published in Johnson County’s Daily Journal

Building a warehouse without a tenant may seem like a risky investment, but experts say it is a best practice in today’s economy.

Speculative buildings — also known as shell buildings — are a hot topic in Johnson County because, for the past several years, local governments have approved several, and city and town officials often agree to incentives, such as tax breaks, for developers to build the facilities.

But the developments are more than just empty warehouses. City leaders and economic development experts say having an inventory of available buildings is essential in today’s economy due to increasing demand.

Currently, there are four speculative buildings on the market in Johnson County.

One is part of a multi-tenant building finished in 2017 in Greenwood, at the South Point Business Park on Graham Road and Main Street, according to data from Aspire, a local chamber of commerce. The other section of the building already has a tenant.

Two buildings are on the market in Whiteland — one 800,000 square feet and the other 1 million square feet, both at the soon-to-be Mohr Logistics Park, west of Interstate 65 and north of Whiteland Road. Construction has started on one of the buildings and construction on the other is set to begin in a couple months. Both spaces are already being advertised.

Those two buildings are the first phase of Mohr Capital’s plans to build an 11-building industrial park on nearly 400 acres.

To learn more about why developments like Mohr Logistics Park play a necessary role in establishing a modern economy, read the full article at the Daily Journal.

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