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PLAINFIELD, IN-A second building, MetroAir Three, has broken ground at MetroAir Business Park. It is a 248,336-sf spec industrial facility that will be ready for occupancy in spring 2007.
It is located on a 13.3-acre site at Stafford Road and Ronald Reagan Parkway within the 56-acre master-planned industrial park under development by a joint venture between Rosemont, IL-based McShane Corp. and Indianapolis-based Horne Properties LLC. The first, 109,782-sf Building One is fully leased for a 10-year term to DJO Inc., a global medical device supplier.
Joseph Llamas, McShane's senior development manager, tells GlobeSt.com the all-in cost of Building Three, including the price of the land, is approximately $11 million. It will have a 28-foot clear height, 30 exterior docks, six drive-in doors and 50- by 50-foot bay spacing. There is a 140-foot truck court and parking for 280 vehicles.
The design can accommodate a single tenant or multiple ones in units divisible to 25,000 sf. Of the rental rate, Llamas says, "we're looking at between $4.10 per sf and $4.20 per sf, triple net."
MetroAir park is planned to accommodate 775,000 sf of industrial space in five buildings. Construction of a third building "will depend on the success of this one," Llamas says, but anticipates that additional construction will begin within the next 12 to 18 months.
It includes potential build-to-suits from 40,000 sf to 200,000 sf, according to Llamas. The park can accommodate retail and specialty office product, such as medical and life science facilities, in addition to manufacturing and distribution buildings. Patrick B. Lindley of Colliers Turley Martin Tucker is the park's marketing agent.
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