LAS VEGAS (September 1, 2023) – Las Vegas based IndiCap, a privately held industrial development company, proudly announces its distinction as a 2023 Influencer in Industrial Real Estate by the editors of the esteemed GlobeSt. Real Estate Forum.
GlobeSt. Real Estate Forum’s annual Influencer recognition serves to spotlight the movers and shakers in the real estate industry. Their editors, with a keen eye for detail and excellence, meticulously assess industry players, identifying those who not only excel in their specialty areas but also demonstrate transformative influence.
IndiCap focuses on prime location land and teams up with the most experienced local professionals in a collaborative approach to guide each project from concept through development and disposition. Over the past two years, IndiCap has undertaken several landmark projects, sealing its reputation as an influencer. Through strategic acquisitions and notable partnerships, IndiCap has continually strengthened its market position. Its portfolio encompasses more than 10 million square feet of commercial real estate.
Indicap’s current projects include:
· Virgin Industrial Park will total more than 1.5 million square feet in five buildings and is located within Glendale Arizona’s sought-after Loop 303 industrial corridor. The project will be developed in two phases – Phase I will include three buildings totaling 566,121 square feet, 244,958 square feet and 213,765 square feet. Phase II will include two buildings totaling 297,439 square feet and 235,040 square feet. The project is being developed in partnership with Invesco and leased by JLL. Phase 1 Is expected to be completed 1Q 2024. The 110 acres were purchased in mid and late 2022 for $40 million cash.
· Eastmark Center of Industry- Indicap partnered with AECOM-Canyon Partners on a 113-acre site which was purchased in April 2022 for $48million. Indicap broke ground in November 2022 with buildings expected to be completed by 4Q 2023. The industrial park will include 10 buildings and more than 1.6milion square feet of Class A Industrial space. Upon completion, Eastmark will offer buildings from 82,000 square feet to 424,400 square feet.
· The Ranch – In August 2023, Indicap, Colmena Group and Langley Properties announced successful acquisition of the 311+ acres of land at the northwest corner of Power Road and Warner Road in Gilbert, Arizona for $107,500,000 in an all-cash transaction, to develop The Ranch, a billion-dollar mixed-use project that will include industrial, retail, office and multi-family residential. The project will now move to the site planning and design phase with a groundbreaking schedule for the third quarter of 2024.
Indicap was founded by Industry Veterans Mike Cherine and Jason Kuckler.
“We are both honored and humbled to be recognized by Globe Street Real Estate Forum. This distinction is a testament to our team’s dedication, the trust our clients place in us, and our commitment to shaping the future of industrial real estate,” said Indicap CEO Mike Chernine.
About IndiCap
IndiCap, founded in 2021, specializes in industrial investment, development, consulting, and management services in Arizona and Nevada with growth and expansion plans across other Western and Southern States. The principals and team at IndiCap have developed more than 30 million square feet of commercial real estate throughout the industrial, office, and retail space. Mike Chernine and Jason Kuckler, the company’s principals, are seasoned real estate development experts with 60 years of experience between them. IndiCap’s scope consists of site selection, site design and construction, finance and budgeting, and full development services. For more information, visit indicapinc.com.
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