Southern W & S Keeps 211K in Hot Indy

INDIANAPOLIS—A central location, combined with a reviving national economy and access to good highways and an international airport, are among the factors fuelling this metro area’s rise as a logistics and distribution market. Users signed a large number of big lease renewals and expansions throughout 2013, and show little sign of slowing down.

In one of the market’s largest recent transactions, for example, Liberty Property Trust, a national owner of office, distribution and light manufacturing facilities, has renewed Southern Wine & Spirits’ 211,500-square-foot warehouse and distribution center lease at 800 Commerce Parkway West Drive in Greenwood, IN, a suburb about 12 miles south of downtown Indianapolis, according to officials from JLL. Brian Seitz, and Jake Sturman, executive vice presidents with JLL’s industrial property group, represented Liberty in the lease transaction.