The City of Lebanon and the Boone County Economic Development Corporation (Boone EDC) announced plans for Strategic Capital Partners, an Indianapolis-based real estate development firm specializing in industrial and office properties, to develop a new speculative industrial park in Lebanon, Indiana. The project, called Lebanon Commerce Park, will bring four Class A industrial buildings to a 116-acre site near the southeast quadrant of State Road 39 and Tyre Road, extending to properties along John Shaw Road.
The proposed project represents an estimated $102.9 million capital investment and showcases Boone County’s continued momentum as a destination for industrial development, advanced manufacturing, and business investment. The development will consist of four buildings totaling approximately 1.49 million square feet, with planned uses including office, warehouse, light manufacturing, and distribution space. As a speculative development, the buildings will be constructed in anticipation of future tenant demand, providing businesses with opportunities to establish or expand operations in Boone County.
Strategic Capital Partners plans to market the development to companies in a variety of growth industries, including life sciences, light manufacturing, research and development, biotechnology, and food and beverage production. The project is designed to provide modern, Class A industrial space that can accommodate a range of business operations and support future economic growth in the Lebanon area.
“We’re excited to see this project move forward and create new opportunities for businesses looking to grow or expand in Lebanon,” said Mayor Matt Gentry. “As our city continues to grow, having quality space available for new and expanding businesses is an important part of building on that momentum and supporting Lebanon’s future.”
“We are excited to develop Lebanon Commerce Park and contribute to the strong economic momentum underway in Boone County and along the I-65 corridor. We look forward to continuing our partnership with the City of Lebanon and the Boone County Economic Development Corporation as we move toward the start of this exciting project,” said John Cumming, Senior Vice President of Development at Strategic Capital Partners.
“Strategic Capital Partners’ decision to pursue this development in Lebanon demonstrates the strength of Boone County’s industrial market and the opportunities available to businesses seeking modern, well-located facilities,” said Andrea Kern, CEO of the Boone County Economic Development Corporation. “With a substantial private capital investment, the potential to support hundreds of new jobs, and space designed to serve a diverse range of industries, this project positions Boone County for continued economic growth and diversification.”
Construction is anticipated to begin in Q3 of 2027, with completion of the four-building development scheduled in phases. The development will expand Lebanon’s inventory of modern industrial facilities, providing flexible space for prospective tenants and creating opportunities for new business investment, employment, and long-term economic growth throughout Boone County.