By Adina Marcut
HSA Commercial Real Estate has secured a long-term lease for Gateway Industrial IV, a 151,220-square-foot distribution center in Plainfield, Ind., a suburb southwest of Indianapolis. Kuehne + Nagel, a global logistics service provider, will lease 55,500 square feet, in addition to the 160,230 square feet it occupies in a separate building on the campus. KJG Architecture designed the project.
Located at 845 S. Columbia Road, the construction for the new distribution center situated within Gateway Business Center was completed earlier this month. This marks the fifth and final building that HSA Commercial has developed in collaboration with Boston-based Washington Capital Management at the 40-acre Gateway Business Park.
Gateway Industrial IV offers 16 expandable truck docks, four drive-in doors and 156 parking spaces. The property features 30-foot clear heights and is designed to accommodate footprints 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,” Robert Smietana, vice chairman & CEO of HSA Commercial Real Estate, said in a statement. “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.”
John Hanley, Terry Busch and Jared Scaringe of CBRE are handling leasing for the remaining 95,720 square feet. HSA Commercial’s past projects at the Gateway Business Park include a 220,000-square-foot spec distribution center in Plainfield, Ind., that was constructed in 2014 and fully leased in 2016.
Image courtesy of HSA Commercial Real Estate