Large Industrial Bldg Proposed in Plainfield
HSA Commercial, Great Point Investors to Develop 220,000 SF near Indianapolis Airport
October 14, 2013
HSA Commercial, Inc., a Chicago-based, full-service real estate firm, has partnered with Boston-based Great Point Investors LLC to develop HSA's third speculative industrial development so far this year. The building is currently in the proposal stages, with ground-breaking expected in Plainfield, IN later this month.
The 220,000-square-foot property will sit on 13 acres at 1025 Columbia Rd., southwest of the Indianapolis International Airport and close to I-70, in Hendricks County. The spec building will feature 32-foot clear heights, 24 loading docks and four drive-in doors, and parking for 155 trailers.
"There has been a lot of positive leasing activity with third-party logistics tenants in Indianapolis throughout the past couple of 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."
Michael Caprile, vice chairman and Steve Roth, executive vice president at CBRE secured Great Point Investors for the joint venture with HSA. Chicago-based The PrivateBank is providing the construction financing for the project. Fishers-based Meyer Najem will be the general contractor, and JRA Architects is responsible for the design.