Recent developments include ribbon cutting, building completion and groundbreaking in Whitestown, Indiana industrial park

INDIANA – Ambrose is excited to share recent updates to the Indianapolis Logistics Park – Northwest (ILP-NW) in Whitestown, Indiana, marking significant milestones in the development of this state-of-the-art logistics hub.

Kattsafe North America officially moved into its new 93,871-square-foot headquarters in Building II. The company is a leading provider of innovative safety and security solutions, specializing in advanced technology to protect people, property, and assets. The company celebrated with a ribbon-cutting ceremony in March that was attended by representatives from Ambrose, the Indiana Economic Development Corporation and the Town of Whitestown.

The remainder of Building II reached completion in April of this year. The balance of the building – 145,568 square feet – was recently leased to a confidential user, and interior fit-out is currently underway.

Completion has also been achieved on Building III. The 233,000-square-foot building is available for lease with a minimum divisibility of 40,000 square feet. It includes a 2,970-square-foot office, visibility along I-65 and easy access to the Exit 131 diverging diamond interchange at CR 550 South, which was completed in June of 2023.

Given the amount of leasing activity within the park and broader northwest submarket, Ambrose broke ground speculatively on Building IV earlier this month. The 248,000-square-foot building is the last planned development within the park. It will be available for user move-in later this year with expected completion in December.

Construction continues on Building I, a 601,000-square-foot build-to-suit development for Safavieh, a global leader in premium home furnishings. Construction of the building began in September of 2024. Completion is anticipated for July of this year.

“We are proud to welcome Kattsafe North America to their new facilities and look forward to celebrating Safavieh’s upcoming move-in to the park,” said Ambrose Vice President of Development and Midwest Market Officer Stephen Lindley. “While there has been plenty of commentary about today’s industrial real estate market in Indiana, the activity we’re seeing at Indianapolis Logistics Park- Northwest demonstrates that demand is still strong for the right opportunities. Ambrose is proud to be among the few developers actively delivering projects and making deals happen despite current headwinds.”

Indianapolis Logistics Park – Northwest is located in Whitestown, Indiana, one of the state’s fastest-growing communities. The park is located directly off of I-65 and offers immediate access to the interstate via the Exit 131 diverging diamond interchange at CR 550 South.

The general contractor for all four buildings is Compass Commercial Construction Group. Design partners include Curran Architecture and Kimley-Horn. The Indianapolis office of CBRE is handling marketing and leasing for the park. Ambrose partnered with Horizon Bank on the construction loan for Buildings II through IV. Total investment in the park exceeds $120 million.

Ambrose Fund IV invests in the speculative and build-to-suit development and acquisition of Class A industrial, logistics and e-commerce assets in key markets across the U.S.

INDIANAPOLIS – Ambrose, a leading investor, developer, and operator of industrial, logistics and e-commerce real estate, today announced the final close of Ambrose Fund IV, LP (“Ambrose IV” or the “Fund”). Ambrose raised $400,625,000 through equity commitments to the Fund and related vehicles. The Fund represents Ambrose’s largest fund to date and reflects the evolution of its investor base, which comprises a diverse mix of public pension funds including the Indiana Public Retirement System (INPRS), insurance companies and family offices, such as Jordan Park.

Ambrose IV will target speculative and build-to-suit development and acquisitions of Class A industrial, logistics and e-commerce assets across the U.S. – primarily in the Midwest, Mountain States and the Southeast. The Fund is approximately 50% deployed with a strong pipeline of new development and acquisitions. The Fund has launched construction on 12 projects across Florida, Louisiana, Indiana and Ohio, as well as acquired a cash flow-generating three-building portfolio in Denver with compelling near-term value creation opportunities. The Fund has also acquired four land positions across Ohio and Indiana at an attractive, below-market land basis, with the potential to support six additional development projects.

Aasif Bade, Founder and CEO of Ambrose, said, “Completing our largest raise to date and making significant strides toward investor diversification in this challenging fundraising environment reflect both the strength of our incredible team of internal and external partners and our successful track record. Our fund strategy is supported by compelling secular tailwinds, including the increasing absorption of the glut of pandemic-era industrial development; decreasing new construction due to high interest rates and capital constraints; and consistently growing demand for efficient, well-located Class A industrial, logistics and e-commerce product. Given our deployment timelines, we expect the vintages in this portfolio will be well timed to capitalize on anticipated decreases in supply across our target markets over the next few years.”

Since its founding in 2008, Ambrose has built an impressive track record of developing projects on time and on budget, having completed $2.9 billion in industrial assets since 2020 comprising 61 projects and 19.4 million square feet. Moreover, Ambrose has a robust pipeline of strategically located entitled and powered land that is well positioned to benefit from increasing demand for warehousing, manufacturing and data center space.

James Mattingly, Director of Real Assets at INPRS, said, “Over the past 15 years, INPRS has watched Ambrose grow their business into an institutional platform that generates incredible returns for its investors. It is impressive what they have been able to accomplish, specifically with regard to Fund IV and during what has been a challenging economic period within the market. We are proud to be their largest investor to date and look forward to partnering together in generating continued high returns for the members we serve across Indiana.”

Hodes Weill Securities acted as financial advisor and placement agent for Ambrose in connection with the formation and capitalization of the fund. Goodwin Procter, LLP served as legal advisor.

Zach Anderson, Daniel Scotto, Erin Owens and Jessica Claridge join Indianapolis-based industrial, logistics and e-commerce developer and investment manager.

INDIANAPOLIS – Ambrose announced today that it has added Zach Anderson as development manager, Daniel Scotto as marketing manager, Erin Owens as senior executive assistant and Jessica Claridge as talent and culture associate.

As development manager, Anderson will oversee the execution of development projects for Ambrose’s national build-to-suit team and speculative teams. Anderson joins Ambrose from ARCO Murray where he was a senior project manager on industrial projects. He also previously worked for LG Construction and Environs Development as a design-build project architect. Anderson holds a bachelor’s degree in architecture from Kent State University. Additonally, he completed his Master of Architecture from the University of Miami.

As marketing manager, Scotto will provide oversight and support to Ambrose’s property marketing, corporate communications and more. Scotto joins Ambrose from the NCAA where he worked in communications for the Eligibility Center. Scotto holds a bachelor’s degree in communications from DePauw University, and he is currently in the process of completing his master’s degree in communication and leadership from Purdue University.

As senior executive assistant, Owens will provide administrative support to Ambrose Founder and CEO Aasif Bade. Owens joins Ambrose from Round Room where she supported their president. She has also supported leaders in an executive or personal assistant capacity at Crew Carwash, Firestone Building Products and Stanley Black and Decker. Owens holds a bachelor’s degree in communications from Indiana State University.

As talent and culture associate, Claridge will provide support to human resources and company culture initiatives, including Ambrose’s benefits, internship and charitable giving and volunteer programs. Claridge joins Ambrose from Purdue University where she graduated with her bachelor’s degree in human resources development and minors in sociology and human resources managment. She has human resources experiences as an intern at Verista, Allied Solutions LLC and Telamon. Jessica also has her SHRM-CP certiifcation.

“It’s exciting to have Zach, Daniel, Erin and Jessica join the Ambrose team,” said President and CIO Jason Sturman. “They each bring valuable experience to support the long-term strategic growth within Ambrose as we continue delivering cutting-edge solutions within the real estate and private equity fund industries.”