ProLogis, Browning JV Leases 947,000 SF at AirTech Park

ProLogis and Browning Investments Inc., an Indianapolis-based developer of commercial real estate, have announced that their joint venture has signed a new lease agreement for 947,000 square feet near Indianapolis, Ind. The ProLogis and Browning joint venture has leased the space at AirTech Park, which they own jointly, and that is immediately west of Indianapolis in Plainfield, Ind.The space was leased to a Fortune 500 company and will be used a primary Midwest distribution center. AirTech Park has access to the Indianapolis International Airport as well as to Interstates 70, 465, 65 and 74. This is one of ProLogis’ single largest lease agreements for new inventory space in North America this year, Doug Kiersey, ProLogis senior vice president and Midwest regional director, noted in a statement. Through their joint venture resulting from the ProLogis-Keystone merger in 2004, ProLogis and Browning have together developed more than 5.5 million square feet of industrial space in the Indianapolis region. ProLogis is one of the largest providers of industrial space in Indianapolis, with more than 11.3 million square feet owned, managed or under development. Founded in 1977, Browning is a development companies in Indianapolis and is engaged in the acquisition, development, construction, leasing, management, ownership and disposition of investment real estate properties, primarily in the Indianapolis metropolitan area. In total, Browning has developed and constructed more than 14 million square feet of space.