HSA Commercial Real Estate today announced it has leased the remaining available space at Gateway Industrial III, a 220,000-square-foot spec distribution center at 1025 S. Columbia Road in Plainfield, Ind., with plans to develop a new 150,000-square-foot warehouse adjacent to the facility in the Gateway Business Park.
Kuehne + Nagel, a Switzerland-based global logistics service provider with more than 1,000 offices and distribution centers around the world, executed a 100,335-square-foot lease at Gateway Industrial III, adding to the 59,895 square feet it already occupies. Developed by HSA Commercial in partnership with Great Point Investors LLC, the building was completed in 2014 and is now fully leased. This summer, HSA Commercial expects to break ground on a new 150,000-square-foot distribution center – also built on spec – in the Gateway Business Park, immediately southwest of Indianapolis International Airport.
“As evidenced by the rapid lease-up of Gateway Industrial III, there is still plenty of demand for Class A industrial space in the Indianapolis market,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate. “Gateway Business Park’s proximity to the airport and Interstate 70, which easily connects to the entire regional interstate system, makes it a highly attractive option for industrial users looking around Indianapolis.”
Located on a 9-acre site at the intersection of Columbia and Midfield roads, the proposed spec facility will feature 32-foot clear heights, 32 truck docks, 4 drive-in doors and parking for 156 vehicles.
“This new building is unique in that it will be able to accommodate industrial users as small as 25,000 square feet,” Smietana added. “The ability to offer space to these smaller tenants, which have had a limited number of new-construction options to choose from, along with the site’s premier location should help us attract a variety of businesses.”
When complete, the spec facility will be the fifth and final building developed by HSA Commercial in the 40-acre Gateway Business Park. The developer’s past projects include a 104,400-square-foot flex building that was built in 2004 and a second 121,000 square foot building in 2006; a 34,880-square-foot build-to-suit facility for the Federal Aviation Administration; and the 220,000-square-foot Gateway Industrial III.
Ownership was represented by Terry Busch and John Hanley of CBRE in the lease transaction.