Chris Gary Leases “Randolph” to Fronius
As seen in GlobeSt.com
by Robert Carr
PORTAGE, IN-Austrian-based Fronius USA LLC, a developer and manufacturer of battery charging systems, welding technology and solar electronics, has purchased the industrial facility here known as “the Randolph” for an undisclosed amount. The property will become the firm’s North American headquarters. The 399,500-square-foot facility is situated on 24 acres off Interstate 94 in the AmeriPlex at the Port business park. Fronius announced it intends to take occupancy of the space in the third quarter of 2012. NAI Hiffman‘s Chris Gary represented the seller of the property, Lincoln National Life Insurance Co., in the transaction. Jason West with Cushman & Wakefield represented Fronius. The Indiana Economic Development Corp. offered Fronius up to $4.3 million in performance-based tax credits based on the company’s job creation plans. The city of Portage will consider additional property tax abatement. The facility, which will be used to manufacture its products for the North American market, has 32-foot clear ceilings, 48 exterior dock doors with 24 future docks and parking for 70 trailers. Holladay Properties developed the site in 2008 as a speculative industrial building. Construction was completed in 2009 and the building has been vacant ever since.