Indy Investors Cash In
Tuesday, December 18th, 2007Medco Health Solutions to open huge distribution center. It’s not too late for you to cash in. Call Derek or Craig now to reserve your next property. 317.796.9825 or 317.490.5074 We estimate that the average investor who buys properties in Indianapolis Indiana will earn $1,000,000 in the next ten years. Buy now or lose out on the best opportunity in the next twenty years.
Below is a breaking story, just 47 minutes old, that announces Indiana’s biggest economic development this year. The Anson development is in Indy’s NW corner on highway I-65. My partner, Craig Bartels, saw opportunity here when he bought his first family home just a few blocks away. Craig’s home has doubled in value in only eight years. The announcement below will continue the trend of residential growth and appreciation for this part of Indianapolis.
Boone County has won an intense, three-way competition to land Indiana’s biggest economic development project in more than a year: a massive, mail-order pharmacy that will employ 1,300 people.
Medco Health Solutions of Franklin Lakes, N.J., is expected to announce Tuesday that it has chosen the AllPoints industrial project at Anson, west of Zionsville, as the site for its huge distribution center, said Boone County Commissioner Huck Lewis.
The facility will be 318,000 square feet, roughly the size of six football fields, the company has said.
Medco picked the site because of its access to Northside workers, as well as its proximity to I-65, the airport and Downtown Indianapolis, said another person familiar with the deal.
Medco, one of the nation’s largest pharmacy distribution companies, said last month that it would build the facility somewhere in Central Indiana and had narrowed its choices to Boone, Hendricks and Johnson counties. The company has two other large distribution centers, in New Jersey and Nevada. The Boone County site will become the company’s largest.
A Medco spokeswoman declined to comment today. But Lewis confirmed that Medco was coming to Anson, a 1,700-acre mixed-use development in Whitestown, a few miles northwest of the intersection of I-65 and Ind. 334. The Anson development also includes offices, retail and residential areas.
Medco said last month that it would invest $150 million in the new facility, which will employ 1,300 people by 2012, with an average wage of $53,000.
That could make it Boone County’s largest employer, Lewis said. “We’re real glad to see them coming,” he said. “This is going to have a major impact on the county, Anson and our tax base.”
Boone has been relatively slow to develop and has long had a slow-growth reputation with residential and commercial developers and builders.
Boone County Republican Chairman Tom Easterday, when informed of the announcement, said: “That’s fantastic. It clearly fits with the high-tech and high-paying jobs that we want for Boone County.”
Easterday, who is a vice president of Subaru in West Lafayette and played no direct role in luring Medco, said he had been following and waiting for the Medco decision when he learned that Boone County was a finalist.
“All three counties appeared to have some advantages,” he said. “We believe Boone offers a perfect location and the corporate environment that Anson provides. The location is 20 minutes to the airport and to Downtown.”
Some local residents have complained that Anson has not developed as quickly as expected, but Lewis said that Medco should help the development gain momentum.
“It’s just that the people here wanted an appropriate type of growth that creates quality jobs that benefit the county as a whole and can help to raise the standard of living,” he said.
Duke Realty, which is developing the Anson site, declined to confirm the news. The company issued a media advisory shortly before 5 p.m. Monday announcing a news conference Tuesday morning with “representatives from a new company locating to Indiana.”
Also scheduled to attend are Lt. Gov. Becky Skillman and representatives from Duke, Browning Investments and the Boone County Economic Development Corp.
Medco said last month that it was attracted to Central Indiana primarily because of the region’s work force. The state has two pharmacy schools, at Butler and Purdue universities, that could help the company staff the center in the midst of a national pharmacist shortage.
About 120 positions will be pharmacists, with the rest consisting of pharmacy technicians, engineers, information technology specialists and managers.
Last year, Medco dispensed 553 million prescriptions. Its mail-order service rang up sales of $16 billion last year.
Star reporters Bruce Smith and Jason Thomas contributed to this story.
Call Star reporter John Russell at (317) 444-6283.
Craig and Derek are co-founders of Crager-Bartels Real Estate, Indiana’s only true FULL SERVICE real estate company. Buy, Sell, Invest, Manage & Grow your portfolio with Crager-Bartels Real Estate.