Indiana Economic Digest | Indiana
Advanced Search

• Most Recent

home : most recent : most recent August 19, 2018

6/8/2018 7:17:00 PM
La Porte County EDC, Holiday Properties report rising interest in Kingsport park

Matt Christy, Herald-Argus Staff Writer

La PORTE — The Office of Economic Development and Holiday Properties told the La Porte County Redevelopment Commission of new development stirrings happening in Kingsbury Industrial Park during a recent La Porte County Redevelopment Commission meeting.

“A lot of activity is taking place out there,” said Mike Seitz of the Office of Economic Development.

A letter of intent for five acres has been received by Holladay Properties for a business who is interested in relocating to Kingsbury. The interested party is looking to construct a 40,000 square foot building to manufacture and distribute dog treats, or to move into an already existing structure. 

Michael Micka, with Holladay Properties, stated he is currently gathering information about already existing buildings in KIP to share with the interested party.

In a separate update, Micka and Seitz reported a recent meeting with the estate of a large landowner in KIP who are looking to sell 260 acres of property, which includes 300,000 square feet of existing buildings.

“I believe they are going to list the vacant land for $20,000 per acre,” Micka stated in his report.

By offering the Office of Economic Development’s assistance to help sell this large amount of land, along with the potential to combine the 260 acres with an adjacent 142 acres already on the market, Micka and Seitz stated the potential is there to draw the interest of a “mega site user” and attract a large business.

In regards to large businesses, Seitz and Micka reported meeting with a potential prospect who are considering a $500 million project in Kingsbury. This manufacturing industrial company was said to be exploring the possibility of acquiring 160 acres of property along 1st Line Road in KIP.

“The beauty of this project is they do not need any rail and the property is ready to go for them,” Micka said.

Micka stated further meetings are scheduled to hammer out details about a potential purchase agreement. He stated the effort to land this deal required “all hands on deck.”

“It’d be huge for this county,” Seitz said.

“But we have a lot more work to accomplish,” he added, as there has been no commitment, just interest from the prospect.

Seitz added he’d also recently shown some land to a Kentucky based company who were looking to relocate closer to the steel mills.

Copyright 2018 Herald Argus

Editor, John C. DePrez Jr.; Executive Editor, Carol Rogers; Publishers: IBRC and IAR

Software © 1998-2018 1up! Software, All Rights Reserved