Amazon Signs 530,400 SF Industrial Lease in Indianapolis Area
Avison Young secured the lease within the master-planned business park, Whiteland Exchange, on behalf of the developer Jones Development Co.
WHITELAND, IN – Amazon has signed a 530,400-square-foot lease in a newly-constructed industrial building, within the 2.4 million-square-foot, master-planned business park, Whiteland Exchange in the Indianapolis South submarket.
Avison Young secured the e-commerce company as the 167-acre development’s exclusive listing agent. Avison Young’s principal, Sean McHale and senior associate, Peter Seoane represented the developer, Jones Development Co. in the new lease transaction.
Amazon moved into the space in early July.
“This large lease demonstrates the continued demand for high quality, modern industrial space in the Indianapolis market,” comments McHale. “As our industrial market continues to expand, we are seeing considerable interest from e-commerce, logistics and advanced manufacturing tenants that previously had limited options in the southern part of the market.”
Upon the recent transaction and with interest in a second building, Jones Development will begin designing its next project at Whiteland Exchange, while it continues to build out the master-planned park.
“We are excited about the response to this new development and our ability to secure high-quality tenants that can support economic growth in the region,” says Nick Jones, EVP of development at Jones Development. “Given the prevailing need for efficient, newly-built space within the Indianapolis market, we expect to see solid activity at Whiteland Exchange throughout 2020.”
The Whiteland Exchange business park, located adjacent to the intersection of I-65 and Whiteland Road in Whiteland, IN, aims to offer investment-grade industrial space and build-to-suit opportunities to central Indiana. Johnson County, which the business park is located within, is currently the fifth fastest growing country in Indiana.
“The Indianapolis market continues to outperform many industrial markets around the country,” states Seoane. “Whiteland Exchange was strategically designed to also serve the mid-range bulk distribution user and the mid-sized manufacturing space user, which adds tremendous flexibility for tenants.”
“Industrial real estate development and leasing activity in Indianapolis remains strong and we don’t see any end in sight,” said McHale. “Ecommerce has been on a strong growth trajectory for several years and the pandemic has pushed that growth to new levels, prompting many businesses to seek out new space to meet the demand.”
