CHARLESTOWN, IN (June 17, 2021) – MR3 Development recently broke ground on its project at the River Ridge Commerce Center. The building is a 210,000-square-foot, cross-dock facility that will become a home for another major employer in Southern Indiana.
MR3 is a development and management company based in Pittsburgh, PA. The firm is a third-generation, family-run business focused on industrial, retail, and life-science and technology projects. MR3 also has an office in Indianapolis and currently has active projects in six states. Its investment at River Ridge represents MR3’s entry into the Louisville/Southern Indiana market.
“We are excited to make this significant investment at the River Ridge Commerce Center,” said Andrew Molnar, MR3’s managing director. “This is a rapidly growing area, and we are thrilled to become part of the family of companies and developers contributing to its success. It has been a pleasure to work with the dedicated staff at River Ridge and local leaders with the City of Charlestown and One Southern Indiana. We truly appreciate everyone’s hard work to make this possible.”
The new industrial building will be located on 15.4 acres at the northeast corner of Paul Garrett Avenue and Patrol Road. No tenant has been announced, but MR3 is marketing the building for use by a manufacturing, technology, e-commerce, or food-production business.
Construction will be completed and the building ready to occupy by October. Indianapolis-based Peterson Co. is the general contractor for the project.
“MR3’s investment confirms once again that River Ridge is an ideal place for businesses to call home,” said Jerry Acy, executive director of the River Ridge Development Authority. “MR3 has a strong track record nationally and will help River Ridge build connections in important industry sectors to bring new jobs and opportunities to the region.”
“I want to welcome MR3 to our community,” said Charlestown Mayor Treva Hodges. “It has been great to work with a family-owned firm that sees the tremendous assets we have in Charlestown and the value or investing here. It’s exciting to see River Ridge continuing to attract dynamic partners to help fuel growth in our city and region.”
About the River Ridge Development Authority
The River Ridge Development Authority manages the River Ridge Commerce Center, a 6,000-acre business and office park established in 1998 to replace lost economic activity from the closure of the Indiana Army Ammunition Plant. The Authority has invested more than $150 million to redevelop about 25 percent of the Center. River Ridge is home to more than 80 companies, such as Amazon, Bose, Collins Aerospace, Enjoy Life Foods, Medline, Optum and HempRise. Onsite employment totaled more than 10,400 in 2021, and the Center produced a total of $2.5 billion in economic output and supported more than 18,000 regional jobs. The investments and growth at River Ridge recently earned the RRDA the International Economic Development Council’s Gold Award for Real Estate Redevelopment and Reuse.