Razing the future

Gus Pearcy | The Lebanon ReporterLAND LEVELING: Demolition of the land at the corner of Indiana 32 and Interstate 65 has begun to make way for restaurants and possibly a hotel.

Demolition has begun on the former Shumate and Commercial Filters manufacturing facilities at the southeast corner of Indiana 32 and Interstate 65. This will make way for the Lebanon Gateway Marketplace developed by KennMar, an Indianapolis real estate investment firm.

Brent Benge, president and CEO of KennMar, said the development may possibly include a couple of restaurants, a mid-level hotel and a medical office building.

“Nothing’s solid until it starts coming out of the ground,” Benge said. “I don’t want to represent that deals are done, but we have deals that we are working through with some users. We’ve had a lot of interest from medical groups.”

Benge said he expects construction on the marketplace to start in April of 2019. Previously, he developed the gateway plaza in Speedway. There are 21 acres to develop here, including five or six out lots, and a big lot in the back for one or two big uses, such as a hotel.

“As soon as they finish this demo, they’re going right into dirt work, digging a pond, putting the roads in, utilities and all that stuff,” Benge said. “So when we hand the sites over to the user, it’s essentially shovel-ready for them.”

While none of the tenants are confirmed, Benge said he is getting plenty of interest because of the visibility and location of the land.

“I’m a believer in Lebanon,” Benge said. “I think it’s definitely going in the right direction.”