Deal with world’s largest Ashley franchisee demonstrates demand for Class A warehouse space near Indianapolis International Airport
Chicago-based HSA Commercial Real Estate today announced the execution of a new 68,486-square-foot industrial lease with home furnishings retailer Ashley DSG at Gateway Industrial V, located at 845 Airtech Parkway in Plainfield, Ind., near the Indianapolis International Airport. The deal returns the 262,758-square-foot building in HSA Commercial’s Gateway Business Park to full occupancy.
“Located in the most in-demand Indianapolis submarket, Gateway Business Park offers modern facilities for small and midsize users that are driving much of the area’s leasing activity,” said Robert Smietana, CEO and president of HSA Commercial Real Estate. “We’re able to offer immediate access to multiple modes of transportation that enable same-day access to over half of the U.S. population, which has been a key selling point amid shifting supply chains.”
Indianapolis’ industrial market posted 1.56 million square feet of positive absorption in second-quarter 2025, which is the first time in nearly two years the market has topped 1 million square feet, according to CBRE research. While leasing volume slowed, overall vacancy improved to 10.9%. The Southwest submarket, home to Gateway Business Park, continues to outperform with a 5.8% vacancy rate, well below the metro average.
Based in Memphis, Tenn., Ashley DSG is a large, family-owned home furnishings retailer with 166 locations in the United States and Canada. The company will use its space at Gateway V to warehouse and distribute home furnishings. The lease is a relocation and expansion from the company’s existing location in the Indianapolis area.
HSA Commercial oversaw buildouts including racking and improvements to the truck dock area.
Developed on a speculative basis and delivered in 2019, Gateway V features 32-foot clear heights, 30 truck docks (expandable), four drive-in doors, 185 parking stalls and 70 trailer positions. In addition to Ashley DSG, the warehouse is occupied by auto glass distributor Mygrant Glass Company, Paris-based aerospace firm Safran Nacelles and transplant solutions provider LifeNet.
Tom Niessink of Niessink Commercial Real Estate represented Ashley DSG in the transaction. Terry Busch and Jared Scaringe of CBRE represented ownership.
About HSA Commercial Real Estate:
Founded in 1981, Chicago-based HSA Commercial Real Estate is a diversified, full-service real estate firm specializing in office, industrial, and healthcare real estate leasing, management, marketing, development and financing on a national basis. Along with developing and acquiring more than 100 million square feet of commercial real estate across the United States, with a total consideration in excess of $6 billion, HSA Commercial Real Estate has represented owners and tenants in more than 10,000 transactions in 43 states; manages a property portfolio, including retail, in excess of 14 million square feet in locations across the nation; and owns more than 13 million square feet of commercial property throughout the country.
Gateway Industrial V: Chicago-based HSA Commercial Real Estate announced Ashley DSG signed a 68,486-square-foot lease at the Gateway V distribution center in Plainfield, Ind., near the Indianapolis International Airport.