Louisville-based commercial real estate developer Hollenbach-Oakley recently began construction of the first, Class A office building at the River Ridge Commerce Center’s new Gateway Office and Research Campus.
The office campus is being developed on 300 acres reserved by the River Ridge Development Authority (RRDA) to help attract higher-wage jobs to Southern Indiana.
The River Ridge Development Authority (RRDA) selected Hollenbach-Oakley in late 2018 to serve as the master developer for the office park. Kelley Construction is the general contractor for the project.
The first building, known as Gateway Office One, is a three-story, 45,000-square-foot office building. Hollenbach-Oakley is investing more than $12.3 million in the project.
River Ridge has invested in development of roads, bridges and utilities as well as creating park-like features such as a 5-acre lake, walking trails and an amphitheater. This work is part of the $120 million in infrastructure investments throughout the Commerce Center.
“This is a great project for River Ridge and for Southern Indiana. This new campus is transformational for our communities and will bring a new dimension to the Commerce Center. To date, most of the growth here has been around logistics and manufacturing jobs. A 21st century office park – built on this suburban, scenic campus just minutes away from the Lewis and Clark Bridge and downtown Louisville – will be the perfect complement and draw a different type of employer to Southern Indiana,” River Ridge Executive Director Jerry Acy said.
Office park to attract new brand of companies
River Ridge currently is home to more than 60 companies occupying over 12.5 million square feet of warehouse, administration, manufacturing, and distribution space. The park’s diverse mix of companies includes Amazon, Enjoy Life Foods and GE Appliances. River Ridge also is developing a cluster for healthcare and pharmaceutical-related businesses, including Knipper & Co., Medline, Optum and the Pharmacord LLC facility that will open next year.
Combined employment at the center is more than 10,500, and the business park supports a total of more than 16,900 jobs throughout the region, according to a recent Economic Impact Analysis by Policy Analytics. Those jobs equate to more than $630 million in labor income and a $2.5 billion economic impact.
Gateway Office One is the first of several Class A office buildings that will be developed in the campus in the coming years.
The RRDA agreement with Hollenbach-Oakley allows the firm to develop up to 600 acres at River Ridge, near the first interchange off State Road 265 near the new, Lewis and Clark Bridge. The development would be completed in two phases
Hollenbach-Oakley has a successful track record as a commercial real estate developer. Notably, the company planned and developed Blankenbaker Station Business Park in East Louisville and is the master developer of Oldham Reserve in La Grange, Kentucky.
“We are proud to be partners with River Ridge. No other business park in the region offers the unique combination of a prime location and world class amenities – a combination that will allow us to bring good jobs and top employers to Southern Indiana. This is our first development in Southern Indiana, but it won’t be our last,” said Managing Partner John Hollenbach.