City of Portage approves tax abatement for spec building
(Portage, Ind.) The Portage City Council recently approved a 10-year abatement for The Belmont Building, a new, 50,228 sq. ft. speculative building at AmeriPlex at the Port.
Currently in the pre-leasing and design stages, Holladay Properties is planning to invest $4.5 million in the construction of the new mutli-tenant flex building that will be located on AmeriPlex Drive. The building will accommodate up to six tenants and features energy efficient design elements including lighting and HVAC.
Mike Mika, VP of Development for Holladay Properties, was on hand to present the request to the Council at their July meeting. He encouraged the Council to approve the abatement, noting that all savings from will be passed on to the tenant, which allows the facilty to be more competitive in the market.
Holladay has several prospects interested in the building which is expected to be completed in June, 2013. Find out more...