Spec Building marks beginning of construction at Goshen’s newest Industrial Park

GOSHEN, Ind. (Jan. 26, 2017) – Mayor Jeremy Stutsman is proud to announce plans by Hoogenboom-Nofziger to build a 20,000 sq. ft. speculative industrial building at Waterford Commons Business Park, 1755 Ardmore Ct.

Speculative industrial buildings are built without commitment to a specific purpose. Investing on one is a risk for the developer, who takes the first step of building a structure without a buyer willing to purchase or lease the building. This is why these developments are often considered an indicator of a strong economy. The last spec building constructed in Goshen was in 2005.

Mayor Stutsman commended developers like Greg Hoogenboom, the developer at Waterford Commons Business Park, for working not only to develop Goshen but also to diversify its economy.

“Now that our community has fully recovered from the recession, it’s very exciting to see the amount of development happening in Goshen in the next three to four years,” he said.

Goshen Chamber of Commerce President and CEO Dave Daugherty said the Chamber is happy to see the City supportive of a developer’s plans and construction of an industrial park like Waterford Commons.

“It really is a good mixed effort for Goshen to have an industrial park open and have a spec building going up, because right now there really aren’t any good new buildings available,” he said.

Greg Hoogenboom, the developer at Waterford Commons Business Park, said his team is excited to welcome their first building project, and are hopeful many more will follow.

“The fact that this building is being built on speculation, or without a tenant, shows the confidence our group has in the Goshen community,” he said. “We would not be at the point we are today without the assistance and encouragement of the Mayor, The Goshen Chamber of Commerce, the Redevelopment Commission, City Planning and Zoning and the Engineering Department.”