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 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.
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, retail and health care 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 in excess of 14 million square feet in locations across the nation; and owns more than 10 million square feet of commercial property throughout the country.
About Washington Capital Management Inc.:
Washington Capital Management Inc. (WCM) is an employee-owned investment advisory firm founded in 1977. WCM headquarters are located in Seattle, with branch offices in Portland, Ore.; Boston; Spokane, Wash.; Anchorage, Alaska; Southern California; and Northern California. WCM manages assets in real estate equity, real estate debt, fixed income and equity strategies, primarily for institutional clients. WCM provides a diverse menu of investment products, including equity real estate investments, commercial mortgages and construction loans. Visit www.wcmadvisors.com.
HSA Commercial Real Estate has executed a 55,500-square-foot lease with global logistics provider Kuehne + Nagel at Gateway Industrial IV, HSA’s new 151,220-square-foot distribution center within the Gateway Business Park in Plainfield, Ind.