INDIANAPOLIS—Cassidy Turley, the commercial real estate firm, has just been selected by USAA Real Estate Co. to manage three modern warehouse/distribution buildings in suburban Plainfield totaling more than 2-million-square-feet. Cassidy already represents USAA properties in Louisville and Washington, DC, but picking up this portfolio marks their first partnership with USAA in the Indianapolis region.
Developers have set off a construction boom in Plainfield, much of it driven by the need for modern bulk space. According to Colliers, “the Indianapolis industrial market delivered more than 2.06-million-square-feet of new investment-grade industrial buildings in the first quarter of 2013, with the vast majority of new product located in the Southwest (Plainfield) and Northwest (Allpoints Anson) submarkets.”
Properties in the agreement, all in Plainfield, include the Plainfield Distribution Center at 2150 Stanley Drive, which totals 493,500-square-feet; GreenParke at Airwest at 3747 Plainfield Road, which totals 770,640-square-feet; and Airwest Distribution Center at 2801 Airwest Boulevard, which totals 804,586-square-feet.
"We are pleased to be growing our presence in Plainfield," said Jason Hans, executive director of portfolio management for USAA. "We are also pleased to be expanding our relationship with Cassidy Turley to the Indianapolis Region."
Timothy J. Michel, senior managing director, will lead the assignment for Cassidy Turley, along with Cheri L. Shepherd, managing director; and Tracy Johnson, property manager. In addition, Luke J. Wessel, senior managing director at Cassidy Turley, will lead leasing efforts at GreenParke at Airwest.
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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.
