VanTrust Real Estate Breaks Ground on Project for Suppliers
By Terry Troy
While Intel and the U.S. Congress are still playing a bit of brinksmanship on the total buildout of the company’s proposed new chip manufacturing facility (as reported on Monday), commercial real estate developer Van Trust Real Estate, LLC is banking that the facility will need tech manufacturing close by. Van Trust recently announced that it is set to break ground on multiple projects before the end of 2022 with completion expected by the end of 2023. The total buildout could reach five million square feet.
While Van Trust is not committed to a single industry or business segment, there is a great deal of speculation that the new commercial projects from the company will cater to high tech manufacturers that will supply the new Intel facility. There have also been no estimates so far on the number of jobs that might be created in New Albany Tech Park, which is right next to the site of Intel’s $20 billion plus project.
“We continue to demonstrate incredible momentum in the New Albany area, recognizing that it is a prime location for business development, and we are excited to move forward with a new business park that will bring even more jobs and contribute to the continued growth within the region,” said Andy Weeks, executive vice president of VanTrust. “Our park will benefit from the massive amount of infrastructure currently under way as part of the Intel semiconductor manufacturing facility. The proximity of this park will make it highly attractive to Intel suppliers as well as other companies.”
“VanTrust has been a dependable partner in the New Albany International Business Park, delivering high-quality development that has attracted businesses that are new to the market, as well as expansions of existing businesses. In most instances, VanTrust has leased the spaces before the buildings have been completed,” said Bill Ebbing, president and CEO of The New Albany Company, developer of the New Albany International Business Park. “VanTrust shares our commitment to strategically planned, high-quality development, so we are very pleased to collaborate with them to meet the increasing demand in this new area of the business park.”
VanTrust’s momentum in the New Albany area is unprecedented, as the company is currently building its seventh and eighth industrial buildings there since 2019, with buildings ranging from 250,00 to 768,000 square feet. Several are situated inside the New Albany International Business Park, a Class A park featuring one of the most robust fiber optics networks in the region.
“New Albany is a fantastic community in which companies can grow with high-quality infrastructure and access to top-tier talent,” said Michael Loges, New Albany’s Economic Development Manager. “VanTrust has become a valued partner in the expansion of the New Albany International Business Park with more than a half dozen projects announced, under construction, or completed in New Albany alone within the last few years. VanTrust has a track record of working well with the City to exceed the expectations of prospective tenants while meeting schedules. Now, as the New Albany community positions itself to welcome a cadre of new advanced manufactures and suppliers, we’ll have a partner that understands the City’s process and delivers excellent quality sites.”
“We appreciate VanTrust’s continued investment in the Columbus Region. Dozens of companies supply Intel’s fab operations and many need to locate nearby for rapid accessibility. This industrial park will help ensure Intel is able to receive this support when the New Albany fabs are operational,” said Kenny McDonald, president and CEO of the Columbus Partnership.