Commercial real estate developer VanTrust Real Estate, LLC has secured its first client in the New Albany Tech Park, located in the New Albany International Business Park. VanTrust will develop a 1.2 million square-foot building for DSV, a global leader in the transport and logistics industry based in Denmark. Construction will begin in August, with expected completion by December 2024. When completed, the warehouse will be the largest industrial building in the City of New Albany. This is VanTrust’s second project with DSV, with the first in Texas.
“This project demonstrates the incredible interest we have seen in the New Albany area, and we are pleased that a logistics leader like DSV has chosen VanTrust to develop this important addition to its North American portfolio,” said Phil Rasey, vice president of development at VanTrust. “We are excited to move forward in our partnership with the City, and know that DSV will be an asset, both in terms of bringing more jobs to the area, as well as support for the region’s continued growth.”
VanTrust announced plans for a new business park, New Albany Tech Park, in June 2022. The Park sits on approximately 500 acres located within The New Albany International Business Park, the region’s largest master-planned business park. The build-to-suit DSV warehouse is the first of multiple projects anticipated at the New Albany Tech Park.
“On our visits to New Albany, we were extremely impressed with the investments in infrastructure the city has made, and its support of the fast-growing semiconductor industry in the area,” said Mike Marlow, president of North America Solutions of DSV. “This will be an ideal location to support our semiconductor customers by utilizing the Air & Sea, Road, and Solution service offerings. We look forward to collaborating with VanTrust and welcome the opportunity to join the New Albany community.”
According to New Albany Mayor Sloan Spalding, “VanTrust has become a trusted partner in industrial business development in the New Albany area, delivering high-quality buildings that have attracted businesses like DSV to this area. VanTrust shares our commitment to strategically planned development, and continues to work well with the City. We welcome DSV as our newest partner in the growth of the region.”
“The 500-acre New Albany Tech Park within the New Albany International Business Park is an important area of opportunity for a myriad of businesses that want to be a part of the growing Silicon Heartland,” said Bill Ebbing, president and CEO of New Albany Company. “With VanTrust leading the Tech Park development, DSV has selected a dependable partner who knows how to deliver high quality facilities. We look forward to welcoming this global leader in transport expertise to New Albany.”
The general contractor for the project is Pepper Construction, with RED architects as the architect. EMH&T will be the civil engineer.