Hachette Leases Third Building in Duke Realty’s Lebanon Business Park
- Jan 25, 2016
The Indianapolis office of Duke Realty Co. has announced that the long-term tenant will soon be occupying Lebanon Building 4, a 418,400-square-foot facility located at 185 S. Mt. Zion Road.
Hachette, a premier book publisher and distributor, has been leasing space at the property since 1996. Hachette’s initial building offered 500,000 square feet and has been expanded twice. In 1999, the company leased a second building. With this most recent agreement, Hachette’s cumulative leased space rises to 1,841,757 square feet in three adjacent buildings in the park.
“We are extremely pleased that Hachette has once again decided to expand its presence in Lebanon Business Park,” said Charlie Podell, senior vice president of the Indiana and Ohio Region for Duke Realty. “When Hachette first visited Lebanon Business Park 20 years ago and opted to locate here, they liked the fact that LBP provided opportunities for expansion, as well as its location and accessibility. This marks the fifth expansion by Hachette, the largest tenant in the park.”
“Duke Realty has been an excellent company to work with over the years so it only made sense to turn to them again when we needed additional space,” added Stephen Mubarek, SVP & CFO for Hachette. “Over the years, they’ve expanded our first building twice, leased us another building and provided short-term solutions when we needed additional space. Our lease of Lebanon Building 4 is a continuation of our long-standing and strong relationship.”
Duke Realty began developing Lebanon Business Park in 1994 on land fronting I-65 with access from two interstate exits. Over the years, the park has grown to 1,250 acres and includes 17 Duke Realty-delivered buildings with approximately 7.5 million square feet of industrial, manufacturing and distribution space. In 2010, Duke Realty added a 13,000-linear-foot rail spur that connects to a CSX branch line on the south side of the park to make Lebanon Business Park the only fully functional rail industrial park in central Indiana. Development opportunities remain in Lebanon Business Park with Duke Realty owning or controlling 303 acres that can support up to 5.2 million square feet of space.
Image courtesy of Duke Realty Co.