HSA Commercial Starts Construction on 3 Warehouses Totaling 855,748 SF in Indiana and WisconsinAugust 6, 2021
Chicago-based HSA Commercial Real Estate today announced the firm has started construction on three new industrial warehouses totaling 855,748 square feet in Indiana and Wisconsin. All of the developments are being built on a speculative basis, or without tenants lined up in advance.
“Significant e-commerce growth continues to drive demand for newly constructed Class A warehouse space along critical last-mile corridors,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate. “With these three new spec projects, we’ll expand the options available to a diverse range of users whose expansion has kept vacancy near historic lows, even as deliveries have increased.”
According to JLL’s recent U.S. Industrial Demand Study, industrial tenants are requiring over 660 million square feet of space, exceeding both 2020 and 2019 levels and marking a 22% increase in year-over-year warehouse demand.
HSA Commercial’s new developments include:
- Gateway Industrial VI – 915 Airtech Parkway, Plainfield, Ind.:
Located in Gateway Business Park, immediately southwest of Indianapolis International Airport, Gateway Industrial VI is a 278,148-square-foot warehouse that is the sixth HSA has developed in the 55-acre park since 2004. Scheduled for completion in late 2021, it will feature 32-foot clear heights, 28 truck docks and 621 parking spaces.
- 4850 S. Pennsylvania Ave., Cudahy, Wis.:
4850 S. Pennsylvania Ave. is a 130,600-square-foot warehouse immediately east of General Mitchell International Airport in Cudahy, Wis., a south suburb of Milwaukee that borders the Lake Michigan shoreline. The building, which replaces a vacant structure on the 8.2-acre site, is scheduled for completion in June 2022 and will include 32-foot clear heights, 13 truck docks (with potential to double) and 102 parking spaces. Located across from village-owned land, the project aligns with officials’ plans to revitalize the stretch of Pennsylvania Avenue between Layton and Edgerton avenues.
- Bristol Highlands Commerce Center – 9403 136th Ave., Bristol, Wis.
Marking the third warehouse in HSA Commercial’s Bristol Highlands Commerce Center development in Bristol, Wis., the new 447,000-square-foot distribution center at 9403 136th Ave. is scheduled for completion in early 2022. Offering easy access to Interstate 94, the project will feature 36-foot clear heights, 73 truck docks and ample parking for employees.
HSA Commercial is one of the most active industrial developers in southeast Wisconsin, with over 2 million square feet of warehouse space under construction or proposed throughout the region. The firm’s pipeline also includes over 1 million square feet in suburban Indianapolis.
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 50 million square feet of commercial real estate across the United States, with a total consideration in excess of $2.5 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 13 million square feet of commercial property throughout the country.