JEFFERSONVILLE, Ind. (August 5, 2020) – A nationally recognized real estate developer has agreed to purchase its first tract of land at the River Ridge Commerce Center, where it plans to build a Class A industrial building that could bring hundreds of jobs to the region.
US Capital Development, based in St. Louis, signed an agreement last week to purchase 37.4 acres from the River Ridge Development Authority. The site is located on River Ridge Parkway, near its intersection with Trey Street. The company plans to develop a 450,000-square-foot industrial speculative building.
This represents US Capital Development’s first investment in the Louisville/Southern Indiana market.
Scott Sachtleben, managing principal for US Capital Development, said the firm evaluated the Louisville/Southern Indiana market for nearly a year before deciding to develop at River Ridge.
“Louisville is a very attractive real estate market, and River Ridge has everything we look for in a development site,” Sachtleben said. “It’s a world-class business park with a great location, easy interstate access to key markets throughout the country and modern infrastructure to support numerous types of companies. We couldn’t be happier with the new location.”
“It’s great to have another experienced developer coming to River Ridge and reinforcing what we already know – this is a great place to do business,” said Jerry Acy, executive director of the River Ridge Commerce Center. “US Capital Development has a track record of success and recognizes the value we offer here in Southern Indiana.”
River Ridge Commerce Center currently is home to more than 60 companies employing more than 10,500 workers. US Capital Development will soon begin site work and planning for the new industrial building. Construction will start this fall, and the building will be ready for lease by late summer 2021.
Jim White, US Capital Development’s managing director of the national development platform, spent more than 12 years working in industrial development in the Louisville MSA before joining the firm.
“Having developed in Louisville in the past, I’ve seen that Louisville has certainly come into its own as a location with proven logistics-centric underpinnings,” White said. “Our first starter-kit project serves to be a perfect fit for our expanding regional and national development initiatives. This is a great time to be building for the future, and this is the right place to do it.”
About US Capital Development
US Capital Development (“USCD”), is a real estate development company based in St. Louis that has its origins dating back to 1994. Since the middle of 2017, the company has sourced and initiated over a billion dollars of self-directed and owned development within various US markets. The firm’s efforts are now aligned under three distinct business platforms: commercial build-to-suit projects, national development, and a senior housing division operating under the brand “Oakleigh Development.”
For more information on US Capital Development, visit www.uscd.com.