INDIANAPOLIS—As reported in GlobeSt.com, Indianapolis has become one of the nation's hottest markets for industrial properties. Developers have about 8-million-square-feet of space under construction, a significant portion of it on a speculative basis. And HSA Commercial, Inc., has just signed up Kuehne+ Nagel, Inc. for a 59,895-square-foot lease at Gateway Industrial III, its recently-completed speculative industrial development at 1025 S. Columbia Rd. in suburban Plainfield. This is the second signed lease for the 220,000-square-foot warehouse that HSA and its partner Great Point Investors LLC began last year.
Kuehne + Nagel, a Switzerland-based global logistics provider with more than a thousand offices and distribution centers around the world, will take occupancy of its space in February 2015. Carol Stream, IL-based Black Horse Carriers, a third-party logistics firm specializing in fleet services for the consumer products industry, recently took occupancy of a 59,770-square-foot space. HSA has now leased 54% of the project with more tenant announcements planned soon.
“The strength of the Indianapolis industrial market has been very impressive since we launched this project a year ago,” says Robert Smietana, vice chairman and chief executive officer of HSA. “As demand, driven by pharmaceuticals and e-commerce, continues to outpace the level of development in the area, it makes sense to start exploring our options in terms of further investment in Indy.”
Gateway Industrial III distribution center sits on 13 acres immediately southwest of the Indianapolis International Airport in the Gateway Business Park. The new facility features 32' clear heights, 35 truck docks, four drive-in doors, 256 parking spaces, and quick access to I-70 with convenient connectivity to the rest of the regional interstate system. This is the fourth building developed in the Gateway Business Park.
Dan Rose of Real Estate Advisory Partners and Mark Writt of CBRE represented Kuehne + Nagel in its transaction. Brian Buschuk, senior associate with JLL, represented Black Horse. CBRE's Terry Busch and John Hanley handle leasing for Gateway Industrial III.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
