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PLAINFIELD, IN-Ozburn-Hessey Logistics has leased an 812,000-sf distribution facility near the Indianapolis International Airport. The Nashville-based third party logistics provider says it plans to take occupancy of the building on Jan. 1.
The newly developed facility is owned by the joint venture partnership of ProLogis, a Denver-based owner, manager and developer of distribution facilities, and Browning Investments, an Indianapolis-based developer of commercial real estate. It is located in the AirTech Industrial park in Plainfield, the primary submarket for large-scale bulk distribution in Indianapolis.
Randy Wolcott, senior vice president of ProVenture Commercial Real Estate, tells GlobeSt.com that OH Logistics selected the large facility because it will accommodate multiple operations, which results in greater operating efficiencies. Proventure is a wholly owned subsidiary of OH Logistics.
The lease brings OH Logistics' Plainfield distribution platform to more than 2.6 million sf. During the third quarter, OH Logistics inked a lease with Duke Realty Corp. for 400,000 sf at 2425 Hadley Road in Plainfield. And earlier this month, two Plainfield facilities leased to OH Logistics traded hands for more than $37 million. California-based Transpacific Development Co. is the new owner of the 414,000-sf facility at 1100 Whitaker Rd. and the 379,000-sf facility at 1101 Whitaker Rd. Throughout North America, OH Logistics operates more than 100 value-added distribution centers.
Wolcott says that Indianapolis and Los Angeles are the fastest growing markets for OH Logistics. Location makes Indianapolis one of the company's top targets, Wolcott says. "For us, it's the proximity to Chicago and one-day transportation to the Northeast."
ProLogis' Indianapolis portfolio comprises more than 10 million sf of properties owned, managed or under development. In addition to OH Logistics, tenants in the market include Belkin Corp., Brightpoint Inc., Electrolux, Georgia-Pacific and JC Penney. Calls to ProLogis were not returned at press time.
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