Holladay celebrates major milestone in Portage

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Developer completes three million square feet as it welcomes six new tenants to AmeriPlex at the Port

Holladay Properties is celebrating a major milestone in its history, as it announces the completion of 3,000,000 total square feet of developed space in Northwest Indiana. Despite challenging economic times, the development, design, and construction firm has pushed forward with new products.

“Buildings today must be designed with both the end user in mind and maximum flexibility for future tenants” says Tim Healy, SVP of Development for Holladay Properties. “More than ever, we’re finding that businesses are looking for ways to consolidate space, reduce operating costs and achieve energy efficiencies. We’ve become very good at helping businesses do that.”

Healy also notes that the firm is seeing a pickup in demand for its financing services. “Firms are having trouble getting financial backing for real estate projects. That’s where we fit in.” Healy points to the firm’s strong track record with local lenders as a mechanism for its continued success.

As Holladay considers new options for expansion in the Northwest Indiana and Chicago markets, it also welcomes new tenants to its existing AmeriPlex parks. In the past 6 months alone, Holladay has welcomed a diverse selection of tenants to its high quality, low priced buildings, including GE Energy, Great Lakes Corporation, Vision Wheel, Dungarvin, WOW Green, and Iron Workers Local 395.

Holladay-owned buildings at AmeriPlex at the Port boast of a 97% occupancy rate, but Healy notes that space is always available, and that new buildings are expected to come online over the next 6 to 12 months. “We’re looking at a variety of flexible products, in strong markets, that have proven resilient to economic conditions.”

In addition to traditional build-to-suit and financing arrangements, Holladay has also seen a pickup in joint venture opportunities. “One of the things we’re noticing is that there are large land owners out there who don’t know what do with their properties. We’ve been able to create partnerships that provide the land owner a way to maximize the value of their land, as well as participate in the upside created upon development.”

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