Industrial Projects Attractive in Indianapolis
- Jan 22, 2016
By Adriana Pop, Associate Editor
Indianapolis–HSA Commercial Real Estate has completely leased Gateway Industrial III, a 220,000-square-foot spec distribution center at 1025 S. Columbia Road in Plainfield, Ind. Adjacent to the facility, which is situated in the Gateway Business Park, the company is also planning to construct a new 150,000-square-foot warehouse.
Kuehne + Nagel, a Switzerland-based global logistics service provider with more than 1,000 offices and distribution centers around the world, has recently signed a 100,335-square-foot lease at Gateway Industrial III, adding to the 59,895 square feet it already occupies.
The building, developed by HSA Commercial in partnership with Great Point Investors LLC, was completed in 2014.
“As evidenced by the rapid lease-up of Gateway Industrial III, there is still plenty of demand for Class A industrial space in the Indianapolis market,” said Robert Smietana, vice chairman & CEO of HSA Commercial. “Gateway Business Park’s proximity to the airport and Interstate 70, which easily connects to the entire regional interstate system, makes it a highly attractive option for industrial users looking around Indianapolis.”
The upcoming project, which will also be built on a speculative basis, will be located on a nine-acre site at the intersection of Columbia and Midfield roads. Plans call for 32-foot clear heights, 32 truck docks, four drive-in doors and parking for 156 vehicles.
“This new building is unique in that it will be able to accommodate industrial users as small as 25,000 square feet,” Smietana added. “The ability to offer space to these smaller tenants, which have had a limited number of new-construction options to choose from, along with the site’s premier location should help us attract a variety of businesses.”
Upon completion, the spec facility will be the fifth and final building developed by HSA Commercial in the 40-acre Gateway Business Park. The developer’s past projects include a 104,400-square-foot flex building that was built in 2004; a second 121,000-square-foot building in 2006; a 34,880-square-foot, build-to-suit facility for the Federal Aviation Administration; and the 220,000-square-foot Gateway Industrial III.
Terry Busch and John Hanley of CBRE represented HSA Commercial in the lease transaction.
Image courtesy of HSA Commercial Real Estate