Chicago-based HSA Commercial Real Estate has entered into a joint venture agreement with Boston-based Great Point Investors for the development of a 151,220-square-foot speculative industrial building at the southeast corner of Columbia Road and Midfield Court in Plainfield, Indiana, a southwest suburb of Indianapolis.
The distribution center – called Gateway Industrial IV – is currently under construction, with delivery scheduled for June of 2017. It will be the fifth and final building developed by HSA Commercial in the 40-acre Gateway Business Park. Chicago-based The PrivateBank provided the project financing.
HSA Commercial and Great Point Investors previously partnered on the development of Gateway Industrial III, an adjacent 220,000-square-foot building that was completed in 2015 and is now fully leased.
When complete, Gateway Industrial IV will feature 30-foot clear heights, 16 expandable truck docks, four drive-in doors and parking for 156 vehicles. The development is located just west of the Indianapolis International Airport and is designed to accommodate users as small as 25,000 square feet.
John Hanley, Terry Busch and Jared Scaringe of CBRE are handling leasing for 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.
