Jack Shaffer, chairman and founder of HSA Commercial Real Estate, announced that construction has commenced on a 220,000-square-foot speculative industrial building the firm is developing in partnership with Great Point Investors LLC in the Gateway Business Park at 1025 Columbia Road, Plainfield, Ind. Crews from the project’s general contractor, Fishers, Ind.-based Meyer Najem, are in the process of completing the mass earthwork and site utilities and will be erecting the wall panels next month.
“Since Meyer Najem built the other two buildings at the Gateway Business Park, as well as the build-to-suit for the FAA (Federal Aviation Administration) just south of our site, they are familiar with Plainfield requirements and have moved very quickly so far,” said Craig Phillips, executive vice president of development with HSA Commercial. “As long as we maintain this pace, we should have all of the walls up for the building shell by the end of the year.”
Located on 13 acres immediately southwest of the Indianapolis International Airport, the freeway-visible industrial building at Gateway Business Park will feature 32’ clear heights, 24 truck docks, four drive-in doors, 256 parking spaces and quick access to Interstate 70 with convenient connectivity to the rest of the regional interstate system. Delivery of the project is scheduled for spring 2014.
“The Indianapolis market has been active for spec development, but our project is unique because it targets smaller users between 40,000 and 100,000 square feet,” said Robert Smietana, vice chairman and CEO of HSA Commercial. “We have been encouraged by the amount of interest in our development so far from that category of tenants, especially at such an early stage in construction.”
Terry Busch and John Hanley of CBRE have been selected to represent HSA Commercial and its joint venture partner, Great Point Investors LLC, in the project leasing.