First building in office campus at River Ridge Commerce Center sold
The first building in the River Ridge Commerce Center’s office park project is complete, and it’s recently been sold to its new owners.
Hollenbach-Oakley, master developer of Gateway Office Park in River Ridge, sold the first completed building to the River Ridge Development Authority (RRDA), which oversees the 6,000-acre Southern Indiana business park.
The building is approximately 45,000 square feet, and RRDA will take up the approximately 15,000-square-foot top floor, John Hollenbach, managing partner of Hollenbach-Oakley said in an email. The Clark County Government took occupancy of the first and second floors in March 2022.
Hollenbach declined to disclose the purchase price. Construction on the project began in October 2020 and was completed in October 2021.
We previously reported the office was slated to cost more than $12.3 million and would be complemented by the roads, bridges, utilities and other park-like features provided by River Ridge. Those include a five-acre lake, walking trails and an amphitheater.
Kelley Construction was the general contractor on the first building while Louisville’s DKN Architects handled design. Horizon Commercial Realty is handling the leasing for the buildings in Gateway Office Park.
River Ridge’s agreement with Hollenbach-Oakley allows for up to 600 total acres to be developed off Interstate 265 near the Lewis and Clark Bridge, and it would be completed in two phases. The recently competed office is the first of three planned buildings.
The next two buildings will be approximately the same size as the first with similar architecture. They are planned for construction on the 7-acre site adjacent to the RRDA building. A contract has also been executed for a large campus tract along International Drive in the Gateway Office Park.
Hollenbach-Oakley is known for its office park projects across Louisville. The firm is responsible for Blankenbaker Station in Louisville’s East End and Oldham County’s Oldham Reserve. It has two campus projects in the works: Simpsonville Commons, which will include retail, office space, research and development, and Louisville Logistics Park, which will feature light manufacturing and assembly, warehouse distribution and office space.
The River Ridge Commerce Center is home to more than 70 companies with over 10,400 on-site workers. Commerce Center estimated in a previous story that it produced a total of $2.5 billion in economic output in 2021 and supported more than 18,000 regional jobs. The past year has seen growing interest from developers and companies seeking new homes for major operations and businesses, as well as growing needs to accelerate infrastructure development within the Commerce Center.
