Chicago-based HSA Commercial Real Estate closed a new 68,486-square-foot industrial lease with home furnishings retailer Ashley DSG at Gateway Industrial V at 845 Airtech Parkway in Plainfield, Indiana, near the Indianapolis International Airport.
The deal returns the 262,758-square-foot building in HSA Commercial’s Gateway Business Park to full occupancy.
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.
