2020_Summer_VMag_forweb

DEVELOPING A FOOTHOLD INTO TOMORROW
>> opportunity outside of the beer
business. With the 55,000 square feet
of warehouse addition put on two years
ago, there was a comfort level that we
had ample room to handle future growth
within the building’s footprint. Therefore,
the extra 12 acres could be put to a more
productive use. We began exploring several
different concepts and ideas, and eventually
connected with Holladay Properties on
developing a multi-tenant building model
for the parcel. The last 15 months have been
focused on tweaking the concept, design,
and then construction of the building that
is now complete. We had our first tenant
move in in mid-June. They are relocating
their offices from Chesterton and bringing
55 jobs to the Valparaiso community. This
tenant will be occupying about 11 percent
of the building, so the focus right now is to
market and fill up the remaining space as
soon as possible.”
Has the Covid-19 pandemic affected
the timeline or changed the direction
of your plans for the building?
Douglas: “I don’t believe there is a person
or business that hasn’t been affected
by Covid-19. Certainly all sectors of the
real estate market have. The residential,
commercial, and industrial sectors were not
immune to the negative effects of closing
the economy to non-essential business
for the past two months. We are learning
to manage our expectations during this
unprecedented time.
Safety is certainly first and foremost for our
people and community. As things begin to
open up again – and, businesses begin to
reevaluate their capex and business needs
– we know that commercial and industrial
real estate activity will pick up. Our points of
difference with this building are its location
and flexible space.”
How will this building benefit the
community at large?
Douglas: “We believe in the long-term
success of Valparaiso. The newly completed
building provides an aesthetic gateway to
the community. It offers flexible build-out
space from 8,000 square feet to 55,000
square feet, so it can accommodate a new
start-up or a growing business needing to
expand. Easy access to major highways,
close proximity to the Chicago market,
a favorable tax environment, and the
availability of a skilled workforce make this
building a great location for any business.”
Leetz: “Our family started doing business
in Valpo in the late 1800’s. This community
has been very good to us for a long time.
We are very excited to continue to invest
and be a part of the exciting growth in the
Valparaiso area.
Viking Place Business Park on
Calumet Ave in Valparaiso
14 VALPARAISO MAGAZINE | SUMMER 2020