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INDIANAPOLIS-Holladay Properties is teaming up with the Purdue Research Foundation to build a new industrial/research park on 78 acres along the I-70 corridor. The park will be a part of the new 400-acre phase of AmeriPlex-Indianapolis, a nearly 1,500-acre development. The foundation, part of Purdue University, and Holladay purchased the property for an undisclosed price.

A 50,000-sf to 70,000-sf office building will be built first, for a reported cost of about $10.5 million. The park will also include a 100,000-sf to 150,000-sf industrial flex building, three sites for restaurants and retail, and a 300-bed, six-story hotel with a 30,000-sf conference center. More buildings are planned later, for up to 75 tenants, according to a foundation spokeswoman. An official with the foundation could not be reached for comment.

The park will be called Purdue Accelerator Park at AmeriPlex-Indianapolis. Purdue University president Martin Jischke says in a statement that the park will benefit from being located near the midfield terminal of Indianapolis International Airport. “[The airport] will provide an additional incentive for owners of national and international companies to look at Indiana as a convenient place to do business,” Jischke says. The City of Indianapolis is providing more than $7 million in incentives to develop the park.

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