(Read more on the industrial market.)

WHITESTOWN, IN-Developers building a $140 million high-tech fulfillment center for Medco Health Solutions Inc. say that the AllPoints at Anson business park won out over sites in 47 states because of amenities and location. The pharmacy benefit management company, based in Franklin Lakes, NJ, will own the 340,000-sf new building for a high-tech fulfillment center that will employ 1,300 people and will handle a million prescriptions a week.

AllPoints, expected to have about seven million sf of industrial and office developments when fully built out, is a $350 million joint venture by Duke and Browning Investments. The 500-acre AllPoints is part of the 1,700-acre, mixed-use development dubbed the Commerce District of Anson. The park will be a full community, with retail, residential, health care, office and industrial properties, says Charlie Podell, SVP of the Indianapolis Industrial Group of Duke Realty. “The amenities of the park are huge,” Podell tells GlobeSt.com. “Plus, what really worked in our favor was that we’re right off of I-465, and you can be to the airport or downtown within 20 minutes.”

The new Medco building will include 75,000 sf of office space, and will be constructed on 28 acres to accommodate future expansion. Construction is to begin in 2008. The mail-order facility will employ pharmacists, pharmacy technicians, engineers, pharmacy support, managers and other staff. Hiring will be mostly done in 2010-11.

“This will be a totally state-of-the-art facility,” Podell says. “It doesn’t seem like a lot of space, but you have to look at the scale of the product, it’s similar to a regular company building a one-million-sf distribution facility.”

The company earned financial incentives to build in the area. The Indiana Economic Development Corp. has offered $18.2 million in tax credits and up to $850,000 in training grants. Boone county will provide a $5 million grant for infrastructure and technology. The town of Whitestown will give the company a $7.8 million property tax abatement.

Duke already has built another building in AllPoints, a 630,000-sf speculative facility. Also, ASI Limited, a company that makes building enclosures and ornamental metals, is leasing 180,000 sf in a 280,000-sf industrial building. Duke is working to lease out the rest of that building, Podell says.

Building 100 is complete, and there are “numerous prospects for parts and all of the building,” Hosfeld tells GlobeSt.com. “There’s a potential for another 500,000-sf building to be built soon. Demand is pretty good, there’s a 6% vacancy rate.” The lease rate for these types of buildings is about $3.25 to $4 per sf, he says.

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