{"id":1004587441,"date":"2022-06-24T03:21:25","date_gmt":"2022-06-24T11:21:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004587441"},"modified":"2022-12-08T23:44:58","modified_gmt":"2022-12-09T07:44:58","slug":"dhl-buys-suburban-indianapolis-industrial-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dhl-buys-suburban-indianapolis-industrial-building\/","title":{"rendered":"DHL Buys Suburban Indianapolis Industrial Building"},"content":{"rendered":"<div id=\"attachment_1004587463\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Whiteland-Exchange-Building-5.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004587463\" data-attachment-id=\"1004587463\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/dhl-buys-suburban-indianapolis-industrial-building\/whiteland-exchange-building-5\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Whiteland-Exchange-Building-5.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Whiteland Exchange Building 5\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Whiteland Exchange Building 5. Image courtesy of Avison Young &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Whiteland-Exchange-Building-5.jpg?w=800\" class=\"wp-image-1004587463 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Whiteland-Exchange-Building-5.jpg?w=300\" alt=\"DHL Supply Chain has acquired Building 5 in the 2.4 million-square-foot master-planned Whiteland Exchange Business Park in Whiteland, Ind.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Whiteland-Exchange-Building-5.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Whiteland-Exchange-Building-5.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Whiteland-Exchange-Building-5.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004587463\" class=\"wp-caption-text\">Whiteland Exchange Building 5. Image courtesy of Avison Young<\/p><\/div>\n<p>Third-party logistics giant <strong>DHL Supply Chain<\/strong> has acquired Building 5, a 979,264-square-foot industrial building in the 2.4 million-square-foot master-planned Whiteland Exchange Business Park at I-65 and Whiteland Road in Whiteland, Ind., from <strong>Jones Development<\/strong>.<\/p>\n<p>The sale price was not disclosed. Jones Development was represented by <strong>Avison Young<\/strong> Principal Sean McHale and Vice President Peter Seoane, both in the firm\u2019s Indianapolis office. The Indianapolis team is the exclusive leasing agent for Whiteland Exchange.<\/p>\n<p>Jones Development, based in Kansas City, Mo., broke ground on Whiteland Exchange in July 2019. The speculative development was designed to provide Central Indiana with investment-grade industrial space for lease, sale and build-to-suit opportunities.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/why-net-lease-and-sale-leasebacks-make-good-partners\/\">Why Net Leases and Sale-Leasebacks Make Good Partners<\/a><\/p>\n<hr>\n<p>The 168-acre development is located along the I-65 distribution corridor in Johnson County, which has experienced strong industrial demand and absorption over the past several years. The county is the fifth fastest-growing county in Indiana and has a strong labor force within a 30-miles radius of the development. Whiteland Exchange is near the convergence of I-65, I-465, I-70 and I-74. More than 50 percent of all U.S businesses and key portions of the U.S. and Canadian populations are within a one-day drive of the site.<\/p>\n<p>McHale said in prepared remarks Jones Development was the first developer to focus on Whiteland, helping make it a major submarket in Johnson County. Seoane stated the total investment in the Whiteland Exchange Business Park is more than $100 million and hundreds of new good-paying jobs have been added to the Whiteland community.<\/p>\n<p>Other major industrial developers in Whiteland include <strong>Hines<\/strong>, which formed a partnership with <strong>Cresset Real Estate Partners<\/strong> and <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-jv-breaks-ground-on-1msf-logistics-center\/\">broke ground on Whiteland 65 Logistics Center<\/a>, a 1.1 million-square-foot building on 81 acres, in June 2021. In April 2021, <strong>Mohr Capital<\/strong> began construction of an 827,000-square-foot speculative industrial building within its Mohr Logistics Park, another master-planned business park also located off I-65 in Whiteland.<\/p>\n<h2><strong>Whiteland Exchange deals<\/strong><\/h2>\n<p>Late last year, <strong>Lexington Realty Trust<\/strong>, now known as <strong>LXP Industrial Trust<\/strong>, <a href=\"https:\/\/www.commercialsearch.com\/news\/lexington-realty-takes-3-industrial-assets\/\">acquired three buildings <\/a>totaling 878,410 square feet within the Whiteland Exchange Business Park from Jones Development for an undisclosed amount. Avison Young also negotiated the sale of the assets.<\/p>\n<p>The largest building in that deal was 530,400 square feet and is fully leased to <strong>Amazon <\/strong>since July 2020. It was the first building completed at Whiteland Exchange Business Park. The other assets\u2014a 168,480-square-foot building and a 179,530-square-foot building\u2014are fully leased to a global packing company.<\/p>\n<p>The buyers at the time cited the central location and access to major highways as well as the extensive rail and air systems in the region, including the Indianapolis International Airport, Louisville UPS Hub and the second-largest <strong>FedEx<\/strong> hub in the world.<\/p>\n<h2><strong>DHL deals<\/strong><\/h2>\n<p>The world\u2019s largest contract logistics provider, DHL Supply Chain announced plans in July 2021 to develop a 1 million-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/dhl-supply-chain-to-build-1-msf-warehouse-in-pennsylvania\/\">warehouse facility in Lebanon, Pa<\/a>. The company planned to invest approximately $88 million to construct two buildings, including the first one encompassing 970,000 square feet, on the 110-acre site. DHL was developing the property for a large-scale customer to enhance its logistics in the Northeast U.S.<\/p>\n<p>In another major deal, DHL Supply Chain sold a newly built, <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-buys-memphis-warehouse\/\">Class A logistics facility in Memphis, Tenn.<\/a>, to a fund sponsored by CBRE Global Investors in a December 2020 sale-leaseback transaction. DHL had acquired the 421,470-square-foot asset in June 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This property is part of a 2.4 million-square-foot business park.<\/p>\n","protected":false},"author":1068,"featured_media":1004587463,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,13,21742],"tags":[33022,34893],"class_list":["post-1004587441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-midwest","category-latest","tag-avison-young","tag-dhl"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DHL Buys Suburban Indianapolis Industrial Building - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"DHL Supply Chain has acquired Building 5 in the 2.4 million-square-foot master-planned Whiteland Exchange Business Park in Whiteland, Ind.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dhl-buys-suburban-indianapolis-industrial-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DHL Buys Suburban Indianapolis Industrial Building\" \/>\n<meta property=\"og:description\" content=\"DHL Supply Chain has acquired Building 5 in the 2.4 million-square-foot master-planned Whiteland Exchange Business Park in Whiteland, Ind.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dhl-buys-suburban-indianapolis-industrial-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-24T11:21:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:44:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Whiteland-Exchange-Building-5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dhl-buys-suburban-indianapolis-industrial-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dhl-buys-suburban-indianapolis-industrial-building\/\",\"name\":\"DHL Buys Suburban Indianapolis Industrial Building - 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