"I really can't speak publicly about exactly what's going on in Louisville and Cincinnati," says John Begier, EVP acquisition and development at Keystone. "We will be doing land acquisition in both those markets and you can expect some major big-box development announcements next year."

Indicative of the scale of Keystone's distribution facility development plans in the Midwest is the trust's massive 490-acre Airtech Park in Plainfield, IN, just minutes from Indianapolis International Airport and Fedex's second largest air freight hub.

The trust broke ground on an 800,000-sf speculative warehouse at Airtech last July, which promises to be just the beginning. "This park has the capacity for an additional nine projects of this caliber, which we plan to roll-out on a yearly basis. The decision cycle for distribution users is generally less than six months. Our plan is to continually bring inventory on-line," says David Hagan, vice president of development at Keystone.