PCCP, LLC has formed a joint venture with Indianapolis-based Strategic Capital Partners, LLC for the speculative development of the next phase of Metro Air Business Park, a 100-acre site that allows for the development of up to 1.2 million square feet in Plainfield, Indiana, one of Indianapolis’ top industrial submarkets.
Metro Air Business Park is located along Ronald Reagan Parkway and is adjacent to the Indianapolis International Airport. It is near the convergence of four interstate freeways.
Phase I will total 724,878 square feet across a 223,480-square-foot rear-load building (Building 8) and a 501,398-square-foot cross-docked building (Building 9). The two buildings shall begin construction in August 2019 and are both anticipated to be completed in the second quarter of 2020.
Building 8 will feature 32-foot clear height and will accommodate users in the 50,000-square-foot to 200,000-square-foot size range. Building 9 will feature 36-foot clear height and will accommodate tenants in the 200,000-square-foot to 500,000-square-foot size range (this building is expandable up to approximately 772,000 square feet).
Plainfield’s industrial market has not only been driven by proximity to the Indianapolis International Airport, the FedEx hub and interstates, but also access to labor and 10-year tax abatements. The local industrial market is experiencing increased activity in e-commerce, logistics, housing-related activity and manufacturing.