Photo compliments of Steve Dragon, Vandercar (Larger View)
by John Beagle
Corridor 75 is a 6.3 Million Square foot Distribution Center planned to be developed in Monroe. It took a big step forward when it was approved for $6.6 million in financing by the Warren County Port Authority last January 2008. The $6.6 Mil is for internal roads and utility services to be installed in advance of tenants building there.
Since then, the Home Depot distribution center is almost structurally complete. Also there has been significant progress on the second building. I contacted Steve Dragon of Vandercar, the developer of Corridor 75 for an update on the project.
Beagle: Can you tell me who is going in the building next to Home Depot in Monroe?
Dragon: Building 2 is a 650,000 SF spec building. We have seen very good interest and have a number of proposals out to prospective tenants, but do not have any space leased as of today in that building.
Beagle: Any new information on the project in Monroe, Corridor 75?
Dragon: . As you have probably seen, the concrete walls have been completed and steel erection started last week. The building is on schedule for occupancy in October of this year. Home Depot is also on track for its Qtr 3 substantial completion. We are also receiving a good deal of interest in the third building in Phase 1 of the Park which is a 187,500 square foot building.
Building 3 is pad ready but we have not yet started building construction. The new five-lane road serving the park and beyond is making excellent progress as well with asphalt down on the full first phase of roadway. In total, Phase 1 of Corridor 75 is supporting around 800 construction jobs. I am attaching our latest progress photos for your use as well. Monroe Corridor 75 Photos (PDF).
Corridor 75 has 15-year, 100-percent property tax abutments for all new tenants. Ohio 63 east of I-75 to Union Road also has been widened to five lanes.
Other Related Stories and Discussions:
Vandercar Developer Payments to Monroe Local Schools
Its a Deal, Home Depot Deal coming to Monroe
Corridor 75 Sneak Peak