HSA Commercial Plans New Development in Suburban Indianapolis
- Dec 12, 2017
HSA Commercial plans to expand its footprint in suburban Indianapolis by adding a new warehouse to its existing industrial portfolio. For this, the company has acquired a 19-acre parcel at the corner of Stafford Road and Airtech Parkway, near the Indianapolis International Airport in Plainfield, Ind.
Construction is slated to start early next year, with the first tenants scheduled to arrive in fall 2018. Upon completion, the 262,758-square-foot building is expected to feature 32-foot clear heights, 30 expandable truck doors and four drive-in doors.
HSA has tapped CBRE’s Senior Associate John Hanley and Senior Vice President Terry Busch to start the leasing efforts.
A rapidly growing industrial market
The newly-acquired site is close to Gateway Business Park, another HSA Indianapolis speculative development, which incorporates 630,000 square feet and spans over 40 acres. The most recent delivery is the 151,200-square-foot Gateway Industrial IV building.
“The Gateway Industrial IV building that we completed earlier this year had one of the fastest lease-ups of any spec developments in our company’s history, so we feel very confident about the continued growth and absorption in the Indianapolis market,” said Robert Smietana, vice chairman & CEO of HSA Commercial Real Estate, in prepared remarks. “Whether it’s Amazon, Home Depot, Dick’s Sporting Goods, Rolls-Royce or any of the major third-party logistics firms in the country, it seems that everyone is starting to realize the strategic value of Indianapolis as a regional distribution hub.”
Image courtesy of HSA Commercial Real Estate