Milestone marks the start of Phase I construction at 720-acre master-planned business park, which will bring new development opportunities to one of the Midwest’s most established and in-demand logistics submarkets

INDIANAPOLIS – Ambrose, a vertically integrated real estate investment manager specializing in the acquisition and development of modern industrial, logistics and e-commerce real estate, today announced the groundbreaking of Buildings I & II at Plainfield Innovation Park, a 720-acre, modern business park in Plainfield, Indiana, a southwest suburb of Indianapolis. The groundbreaking follows the recent announcement of a $138 million investment by Boston Scientific Corporation (NYSE: BSX) to develop a new 500,000-square-foot medical device distribution and light manufacturing facility at Plainfield Innovation Park.

“For more than ten years, we have worked closely with the Town of Plainfield to assemble land and advance a thoughtfully designed, state-of-the-art business park that will support innovation, job creation and long-term economic growth for Plainfield and the state of Indiana,” said Executive Vice President and Chief Operating Officer Grant Goldman. “We are proud to celebrate this important milestone for Plainfield Innovation Park, grateful for the partnership of the Town and the State of Indiana and excited to bring this project to life in a way that creates long-term value for future occupiers and the local community.”

Building I will be approximately 181,000 square feet, while Building II will be approximately 217,000 square feet, each including a 2,925-square-foot office area and minimum divisibility of 50,000 square feet. The buildings are targeting LEED Silver certification and feature 32-foot clear heights and ample power services. Construction on both assets is expected to be completed in Q1 2027.

Upon completion, Plainfield Innovation Park will include approximately 14 bulk modern industrial buildings across 720 acres in one of the most sought-after industrial submarkets in the Midwest region. The project, which is currently the only speculative industrial development under construction in the Plainfield submarket, is designed to strategically support regional and national industrial, logistics, advancing manufacturing and technology and research operations.

“Plainfield is considered one of the most advantageous industrial submarkets in the Midwest thanks to its favorable supply and demand dynamics, strong interstate highway connectivity, proximity to key regional and global logistics hubs and access to a labor force of nearly 200,000 skilled workers,” said Ambrose Senior Vice President of Investments Stephen Lindley. “With Plainfield Innovation Park, we are advancing the development of modern, high-quality spaces designed to serve the evolving distribution, logistics and manufacturing needs of regional, national and global occupiers in a market with demonstrated demand for new industrial space.”

Situated along Interstate 70, a primary east-west corridor connecting major markets across the U.S., Plainfield Innovation Park is ideally positioned for local, regional and national distribution networks. The park is located just under five miles from the Indianapolis International Airport, home to the world’s second-largest FedEx hub, and just seven miles from I-465, which provides convenient access to I-65, I-69, I-70 and I-74, placing the property within a one-day drive of approximately 50% of the U.S. population.

“Plainfield Innovation Park represents years of thoughtful planning, strong partnerships and a shared vision for our community’s future,” said Plainfield Town Council President Robin Brandgard. “We’re proud to celebrate this milestone with Ambrose as they continue investing in Plainfield. This development strengthens our position as a premier location for advanced manufacturing, logistics and innovation while creating opportunities for quality jobs and long-term economic growth. It’s exciting to see a vision years in the making become a reality, and we look forward to the positive impact Plainfield Innovation Park will have on our residents, businesses and the region for generations to come.”

The general contractor on Phase I is Compass Commercial Construction Group, with design/architect services provided by ATA Architects, LLC. The Indianapolis-based Cushman & Wakefield team is handling leasing and marketing for the park. Ambrose has partnered with Lake City Bank on construction financing for Phase I of the development.

Built-to-suit warehouse is fully occupied by First Solar, a global solar technology and manufacturing firm

INDIANAPOLIS – Ambrose, a vertically integrated real estate investment manager that specializes in acquiring, developing and operating modern industrial, logistics and e-commerce real estate, today announced the sale of a 554,024-square-foot, modern warehouse located at 2211 Grand Prairie Boulevard, in New Iberia, Louisiana, part of the Greater Lafayette metro area. The facility is fully occupied by First Solar, a U.S.-based photovoltaic solar technology and manufacturing company. The buyer is global real estate private equity firm LCN Capital Partners.

Ambrose completed construction of the property in 2025, working closely with First Solar throughout the full design, construction and financing of the build-to-suit (BTS) project. The state-of-the-art facility includes 40-foot clear heights, 41 docks, 83 auto parking spots, 36 trailer parking spots and truck courts with 150-foot depths. First Solar is using the facility as a hub to store machinery and raw materials to support an adjacent solar panel manufacturing facility. In October 2025, Ambrose completed the disposition of a separate, 554,000-square-foot property also fully leased to First Solar located in Trinity, Alabama.

“In alignment with our previous build-to-suit development success with First Solar, we designed and built this property to modern, tech-forward industrial specifications to ensure that it is capable of effectively facilitating the firm’s growing advanced manufacturing operations,” said Grant Goldman, Chief Operating Officer, Ambrose. “The high level of institutional interest throughout the disposition process is reflective of the quality build of the asset, the appeal of an in-place national credit tenant and Ambrose’s track record of developing modern industrial facilities that meet the sophisticated operational needs of 21st-century occupiers and are positioned to deliver compelling investment returns upon exit.”

First Solar, founded in 1999, is America’s leading photovoltaic solar technology and manufacturing company and the only U.S.-headquartered company among the world’s largest solar manufacturers. First Solar is focused on competitively and reliably enabling power generation needs with its advanced, uniquely American thin film PV technology. The firm has five operational factories in Ohio, Alabama, and Louisiana. First Solar expects to have a global annual manufacturing capacity of approximately 25 Gigawatts by 2026, with a manufacturing footprint that spans the U.S., India, Malaysia, and Vietnam.

The Lafayette market continues to reflect positive fundmentals with an industrial vacancy rate of 3.97%, well below the national average of 7.5%, according to Lee & Associates’ Q1 2026 Lafayette market report. Limited new construction and strong competition from occupiers supports long-term rent growth and high occupancy levels.

Ambrose was represented in the transaction by the JLL Capital Markets team that included John Huguenard and Will McCormack.

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Ambrose announced key promotions and new hires across its growing team.

Real Estate, Retail, Construction: Aasif Bade founded Ambrose — an investment management firm focused on acquiring, developing and running industrial, logistics and e-commerce real estate — nearly two decades ago. Ambrose has developed and acquired more than $3.5 billion in assets. 

Team advancements and new additions across a range of roles and specialization areas support the continued growth of the firm’s capital deployment efforts and business operations

INDIANAPOLIS – Ambrose, a vertically integrated real estate investment manager that specializes in acquiring, developing and operating modern industrial, logistics and e-commerce real estate, today announced key promotions and new hires across its growing team. This announcement follows the recent hiring of Courtney Schneider as Vice President and Market Officer for the Mountain States Region.

“The promotions and new additions of these Ambrose team members reinforces our commitment to cultivating and recruiting industry-leading talent that enables our platform to drive successful, consistent outcomes for our tenants, clients, business partners and investors,” said Ambrose President and Chief Investment Officer Jason Sturman. “The depth of experience, capabilities and achievements of both our advancing and newly added team members strengthens Ambrose’s ability to strategically deploy and manage investor capital and effectively develop and acquire modern industrial assets across target markets in the U.S.”

The following Ambrose team members have been promoted:

Clay Smith has been promoted to director of development. An instrumental contributor to the development team since joining the firm in 2021, Smith has played a pivotal role in managing numerous build-to-suit projects on behalf of global occupiers. His ability to balance risk management with client success will continue to be a critical value-add as his role expands to take on more leadership with tenant clients within the Ambrose build-to-suit business.

Kendrick Crisp has been promoted to accounting manager. Since joining the Ambrose accounting team in 2020, Crisp has consistently demonstrated strong performance and reliability, delivering results that have made a meaningful impact on Ambrose’s success.

Ambrose has welcomed the following new hires:

Anne Stewart has joined Ambrose as chief of staff, supporting Founder & CEO Aasif Bade in advancing key strategic priorities across the organization. In this role, Stewart will help support the executive team and drive high-priority initiatives as Ambrose continues to expand its national institutional investment and capital deployment platform. Immediately prior to joining Ambrose, Stewart served as operations and financial advisor to Project Sankofa, where she helped stabilize and scale operations. She previously spent six years with Noodle, a higher-education technology company, where she held several leadership roles, as well as five years at the University of North Carolina’s Kenan-Flagler Business School in operational leadership roles and nine years in political and government operations, including roles at The White House and national political conventions. Stewart holds an MBA from the University of North Carolina’s Kenan-Flagler Business School and a bachelor’s degree in business administration from Meredith College.

Leslie Hobbs has joined Ambrose as vice president of accounting. Hobbs has over 20 years of experience in real estate and accounting, having led full‑cycle accounting operations across complex, multi‑entity real estate portfolios. She most recently served as head of accounting at Gray Capital, in addition to previously holding roles with Atrium Capital Advisors and Zidan Management Group. Additionally, Hobbs ran her own consulting practice supporting property management clients with Yardi and Juniper Square implementations, as well as providing outsourced accounting services. She holds a Bachelor of Science in accounting from Saint Mary-of-the-Woods College.

Sean Steidler has joined Ambrose as vice president of financial planning and analysis. In this role, Steidler will oversee real estate financial analyses performed by Ambrose’s deployment, development and asset management teams.  He most recently served as vice president of capital deployment at Dermody Properties and previously spent over 15 years with Duke Realty, now Prologis (NYSE: PLD), in various roles, including associate vice president of financial analysis. He holds a bachelor’s degree in accounting from Indiana University of Pennsylvania.

Natalie Peters has joined Ambrose as director of investor relations. In this role, Peters will lead firm’s investor relations strategy, overseeing institutional investor engagement, capital raising support and the end-to-end investor experience across the firm’s investment platform. She brings over two decades of experience serving institutional and high-net-worth investors. Most recently, she spent eight years at Archway, where she partnered with institutional and ultra-high-net-worth clients throughout their lifecycle, managing investor services and strategic relationship management. Prior to Archway, Peters spent more than a decade at Tradelink Capital. She holds a Bachelor of Science in finance from the Indiana University’s Kelley School of Business.

Jake Okerson has joined Ambrose as an accountant. Okerson previously held property accountant roles at Becknell Industrial and Milhaus. He earned a Bachelor of Science in accounting from the University of Dayton.

Melodee Allen has joined Ambrose as an accounting operations specialist. Allen will be responsible for processing invoices and tenant receipts, managing monthly billbacks and onboarding new vendors, along with other accounting support functions. She most recently spent three years with Bradley Company and previously spent 16 years at Duke Realty, now Prologis (NYSE: PLD).

Cathy Roth has joined Ambrose as office and operations coordinator, where she will oversee day-to-day office operations. She most recently served as Manager of Administration at Central Indiana Corporate Partnership (CICP) and previously held administrative roles at the Archdiocese of Indianapolis, EHOB, Inc. and Hirons & Company. Roth holds a Bachelor of Science in public relations, advertising and applied communication from Ball State University.

Ambrose has been busy near the runways this month, landing two industrial leases in the Cincinnati and Denver markets that fill roughly 154,000 square feet between them. 

Expansion and growth of third-party logistics and manufacturing firms drive strong demand for industrial assets situated within submarkets underpinned by strong economic fundamentals

INDIANAPOLIS – Ambrose, a vertically integrated real estate investment manager that specializes in acquiring, developing and operating modern industrial, logistics and e-commerce real estate, today announced the completion of two separate leases at modern industrial properties in Denver and Cincinnati totaling over 143,000 square feet of space.

“This leasing activity exemplifies the strong demand from both third-party logistics firms and global manufacturers for best-in-class facilities situated in markets with strong economic growth fundamentals and proximity to critical transportation hubs,” said Stephen Lindley, Senior Vice President, Investments at Ambrose.  “The diverse nature of each firm’s respective evolution and growth stages reflects the flexibility and functionality of Ambrose’s modern industrial assets, which are designed to serve companies with various levels of strategic expansion, operations and business needs.”

A confidential company in the material handling industry has leased 110,457 square feet of Building I at Cincinnati Logistics Park – Airport West, a modern, four-building, 84.77-acre industrial development in the Cincinnati / Northern Kentucky submarket. Additional space remains available to lease for immediate move-in within both Buildings I and II, ranging from 40,000 – 176,893 square feet, and Buildings III & IV are available for build-to-suit configurations. The park is situated ideally along I-275, offering convenient access to I-71, I-75 and I-74, and just six miles west of the Cincinnati / Northern Kentucky International Airport, the seventh largest cargo airport in North America. The leasing agent for the park is the Cincinnati-based Colliers International team.

HubStarr Logistics, a third-party logistics provider headquartered in Arizona, has leased 43,350 square feet at Building I of Ascent Commerce Center in Denver, marking the firm’s first location in Colorado and the expansion of HubStarr’s Western U.S. logistics network. The lease brings Building I to full occupancy. Acquired by Ambrose in 2024, Ascent Commerce Center is a modern, multi-tenant industrial park comprised of three industrial buildings strategically located just west of Denver International Airport with convenient access to Peña Boulevard and E-470. One space remains available in the park. Building III offers a 84,528-square-foot space that can be demised down to 16,640 square feet. The leasing agent for the park is the Denver-based Cushman and Wakefield team.

HubStarr Logistics, a rapidly growing third-party logistics provider headquartered in Arizona, has opened a new 40,000-square-foot distribution facility in Denve