Jack Shaffer, Chairman and Founder of HSA Commercial, Inc., announced today that the firm has again partnered with Boston-based Great Point Investors LLC to launch HSA’s third speculative industrial development this year. The partnership expects to break ground this month on a new 220,000-square-foot warehouse building near Columbia Road and Ronald Reagan Parkway in Plainfield, Ind. Located on 13 acres immediately southwest of the Indianapolis International Airport, the new industrial building at Gateway Business Park will feature 32’ clear heights, 24 truck docks, 4 drive-in doors, 256 parking spaces and quick access to Interstate 70 with convenient connectivity to the rest of the regional interstate system.
“There has been a lot of positive leasing activity with third-party logistics tenants in Indianapolis throughout the past couple years particularly in the Plainfield submarket,” said Robert Smietana, Vice Chairman and CEO of HSA Commercial. “With the supply of first-class industrial product running out and e-commerce fueling new demand for high-cube distribution centers, HSA and Great Point saw this as the perfect opportunity to start building again in Indy.”
HSA recently reported that the firm partnered with Great Point Investors to build a 218,500-square-foot spec industrial facility at 2431 Delany Road in Waukegan, Illinois. Delivery for that project is scheduled to occur in Q4 2013.
Michael Caprile, Vice Chairman, and Steve Roth, Executive Vice President, of CBRE secured Great Point Investors for the joint venture with HSA at both Waukegan and Plainfield. Chicago-based The PrivateBank is providing construction financing for the Gateway Business Park spec development. Fishers, Ind.-based Meyer Najem will serve as the project’s general contractor, and JRA Architects is responsible for the project design.