And now, covering the years 2001 to present, Part Three of:
The Complete History of Holladay Properties
2001 was a fairly big year for Holladay Properties. Nashville’s medical management services expanded into Kentucky and Louisiana and soon after reached Indianapolis and Holladay made its international debut when Tim Healy spearheaded the purchase of the former Canada Metals building in Winnipeg, Canada. Before the site could be sold, an existing building, a former lead foundry, had to be demolished and the 3.75 acre site, which had been contaminated with fuel and lead materials, required extensive environmental remediation and rezoning.
In 2002, the Portage office worked with the State of Indiana and the City of Gary to develop two multi-tenant commercial buildings for State and Local government offices. Over the next two years Holladay Indiana locations developed more than 1.2 million square feet of office and industrial space in South Bend, Portage, and Indianapolis.
In 2004, South Bend developed the Cottages at Pendle Woods, an upscale residential community comprised of 50 single family villas located in South Bend. The Portage office began planning Holladay’s third large-scale business park, a joint venture partnership with the Purdue Research Foundation in Merrillville, IN, the 350 acre AmeriPlex at the Crossroads business park. Meanwhile, the retail market was booming and Holladay decided to get into the action and began planning the Heritage Square Shopping Center.
In 2005, AmeriPlex at the Crossroads saw the construction of Purdue’s learning and technology centers and South Bend began planning the 450 acre AmeriPlex at Portage Prairie (now known as AmeriPlex at Interstate 80/90). Nashville at this time had begun development of FMLink, a software program designed to help healthcare systems enhance revenues and control costs, and a major selling point of our medical management services. At the same time, Holladay opened a retail headquarters in Cincinnati, Ohio and began negotiations to develop a Bass Pro Shop in AmeriPlex at the Port. The continued success of the Inn at Saint Mary’s led to the development of the Country Inn & Suites in Portage in 2006 and then the Hilton Garden Inn and Gillespie Conference Center in South Bend two years later.
A booming housing market in 2006 led to the conversion of the top floors of the Colfax Place multi-tenant office building into 12 luxury condos. Led by Manette Tepe, three model units were built and marketed as a “hip, urban, downtown residence for a young executive type.” Without the sales to support completing the project, the condos were converted back to offices the following year. In the retail sector, Heritage Square opened with Martin’s Super Market and two other tenants and Bass Pro opened at AmeriPlex at the Port.
At the start of 2007, Holladay Construction Group, LLC formed with Steve Staszewski as President and 3 employees. What had been a division of Holladay Properties was now its own company, which enabled them to expand their opportunities by providing construction services to companies other than Holladay. That same year brought recognition to AmeriPlex-Indianapolis when it was designated Indiana’s first “Certified Wildlife Friendly Development” by the Indiana Wildlife Federation. The award validated the monumental planning efforts that had been put into the park since the early 90’s.
In 2008, Nashville’s management services expanded into six new states and their development team began planning AmeriPlex at Elm Hill, Holladay’s sixth AmeriPlex development, the only one outside of Indiana, and our first development to incorporate LEED standards in its planning and design. South Bend broke ground on a build-to-suit for Brown Mackie College and the relationship with Bass Pro brought a new development opportunity near Richmond, VA and planning of a 186-acre destination retail project called Winding Brook began. Holladay reached an all time high of 12 active partners which decreased to 10 by the end of 2008. The market crash resulted in the closing of the Cincinnati office as well as the tenant improvement division in South Bend. The final tenant picnic to date was held at Heritage Square and at the end of year Holladay Properties began making plans to survive the Great Recession.
Holladay Properties is no stranger to economic decline; we survived before and we knew we could survive again. To cut costs, cut backs were made in almost every department in 2009 and we had our second hiring and pay freeze. On a positive note, Nashville completed and moved into its Building A at Elm Hill, which later received the first LEED certification in the state of Tennessee. Nashville also gained a major lease administration contract for nearly 1,700 leases in 23 states. In Indiana, development was slow but several projects were completed including the 399,500 SF Randolph building at AmeriPlex at the Port and a 10,000 SF build-to-suit for Concentra Urgent Care in Indianapolis.
In 2010, a relationship with a South Bend Cancer Center resulted in the joint venture development of two state of the art Cancer Treatment Facilities in Northern Indiana. That year, a second Holladay business park received the Certified Wildlife Friendly Habitat designation, AmeriPlex at the Port. Meanwhile, Holladay established a joint venture partnership with Indiana University Health – LaPorte Hospital which led to the development of the LifeWorks Business Park in Michigan City, IN.
In 2011 the first building in LifeWorks opened, a 34,000 SF MOB managed by our Nashville office. Nashville also added 1.8 million square feet to its management portfolio bringing their total to 6.7 million square feet. Holladay began seeing an improvement in the economy and the pay freeze ended. The Portage office led development on a 35 bed, student residence near the University of Notre Dame in South Bend. Winding Brook broke ground on a spec retail center, and we completed three build-to-suits in Indiana: ABC Supply in South Bend, Brechbuhler Scales in Indianapolis and Graycor Construction in Portage.
At the end of 2012, Holladay Properties had 208 employees in 11 states, including IT departments in South Bend and Nashville. Our AmeriPlex Business Parks have developed over 9.6 million SF and nearly 1,500 acres and are home to over 9,100 employees. The Indianapoils office completed a build-to-suit for the Indiana Department of Revenue in AmeriPlex. In South Bend, we broke ground on the Superior building at AmeriPlex at Interstate 80/90, acquired a 539,173 SF distribution center, and completed our first and broke ground on our second student residential project. We also completed spec retail buildings in Richmond and Heritage Square.