HSA Commercial Real Estate today announced the firm has executed a long-term lease with global logistics provider Kuehne + Nagel at a new distribution center facility within the Gateway Business Park in Plainfield, Ind., a southwest suburb of Indianapolis. Kuehne + Nagel, a Switzerland-based global logistics service provider with more than 1,000 offices and distribution centers worldwide, already leases 160,230 square feet in a separate building at Gateway Business Park and will lease an additional 55,500 square feet at 845 S. Columbia Road.
Construction was completed in early July on the new 151,220-square-foot distribution center—called Gateway Industrial IV—which is the fifth and final building developed by HSA Commercial in partnership with Boston-based Washington Capital Management at the 40-acre Gateway Business Park. Gateway Industrial IV features 30-foot clear heights, 16 expandable truck docks, four drive-in doors and parking for 156 vehicles. Located just west of the Indianapolis International Airport, the development is uniquely designed to accommodate users as small as 25,000 square feet.
“Since Gateway Industrial IV was developed on a speculative basis, we anticipated a much longer initial lease-up,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate. “Having the building one-third leased before the landscaping can even be planted is really indicative of the level of activity in the Indianapolis industrial market and of the quality of our project’s design and location.”
HSA Commercial Real Estate’s past projects at Gateway Business Park include a 104,400-square-foot flex building that was built in 2004; a 121,000-square-foot warehouse constructed 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. HSA Commercial Real Estate and Washington Capital Management have also previously formed partnerships to develop a 650,000-square-foot distribution center in Nashville, Tenn., and a 218,500-square-foot warehouse in Waukegan, Ill.
John Hanley, Terry Busch and Jared Scaringe of CBRE are handling leasing for the remaining 95,720 square feet at Gateway Industrial IV. Fishers, Ind.-based Meyer Najem is the general contractor for the project, which was designed by West Lafayette, Ind.-based KJG Architecture. The PrivateBank, based in Chicago, provided the project financing.