INDIANAPOLIS- Prologis, Inc. announced yesterday that it has signed a new build-to-suit agreement with Subaru of America for a 715,000-square-foot distribution center near Indianapolis. They will build the structure in their Prologis Park Lebanon industrial park near Indianapolis International Airport.
The deal adds to the wave of warehouse and distribution development that has hit Indiana and other Midwestern markets like Memphis and Columbus. And their central locations, access to vast interstate road networks, air cargo hubs and proximity to other major population centers should continue attracting developers for the foreseeable future.
"We are pleased to support the ongoing success of Subaru," said Jim McGill, a senior vice president of Prologis, in a prepared statement. "The record low supply of large industrial facilities continues to drive build-to-suit solutions in many markets around the country, including Indianapolis. With occupancies rising for the past two years, Indianapolis remains a compelling regional market."
Gary Palanjian, vice president of parts and service for SOA, said that "Subaru has been setting sales records for the past five years and we are structuring our operations to reflect that. This new facility allows us to better serve our retailers as well as support our growing operations at our manufacturing plant in Lafayette, [Indiana.]"
Prologis now owns and manages about 5.1 million-square-feet of logistics and distribution space in the Indianapolis area. And the last few weeks have been busy for the developer. Since late March, Prologis has broken ground on a major project in New Jersey and signed other build-to-suit deals for distribution centers in China and Ohio.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
