Despite a lot of construction, warehouses are being leased as soon as the cranes come down. Indianapolis, Phoenix and California’s Inland Empire are among the hot markets nationally.
The special payout will cost the company more than $302 million.
Construction is under way on two buildings totaling 500,000 square feet in the Metro Air Business Park in Plainfield and should be completed next spring.
Local officials say the land, part of Indianapolis Metropolitan Airport, could house up to 1 million square feet of new commercial development under a plan approved on Friday.
More than 6.8 million square feet of industrial space is expected to be constructed in the Indianapolis area in 2017, the most ever in a single year.
The Riley Area Development Corp. has purchased the nearly 120-year-old structure northeast of the Circle City Industrial Complex and hopes to lure micro-manufacturers to the space.
The 350 acres is mostly farmland but does include about a dozen homes.
Ten industrial buildings have been completed within the past 24 months, another three are under construction, and four projects are in the process of getting started.
A six-month-long study of development scenarios along a 10-mile stretch of Mount Comfort Road is feeding local leaders with data on potential projects and helping guide land-use decisions.
In two acquisitions totaling nearly $9 million, one firm plans to expand an existing business park while the other has a big logistics facility in mind.
The massive deal—which includes 6.6 million square feet of space spread across 71 buildings that are in operation and five that are under construction—will leave Duke as solely an industrial real estate company.
The Indianapolis-based firm has filed plans for a 14-building project in Carmel with nearly 1 million square feet of office space, plus retail, restaurants and a dual-branded hotel.
Noblesville laid the groundwork for the campus in 2002. When East 146th Street opened in 2007, city leaders believed it would take 20 years for the area to build out. But it’s happening much faster.
Molto Properties has purchased 47 acres in the AmeriPlex business park and plans to construct a 620,000-square-foot industrial building before landing a tenant.
RAS Development broke ground Monday on a 64,000-square-foot distribution center on the northwest side and could build two more that would be similar in size.
The Indianapolis-based developer has narrowed its focus to industrial and medical-office properties. It's been selling off traditional office buildings, which used to make up the bulk of its portfolio.
The trucking company will move from the east side of Indianapolis to Mount Comfort in Hancock County, where it will have room to grow and better access to Interstate 70 for its drivers.
The buildings will add 1.8 million square feet to the town’s already robust distribution market and will be built on a speculative basis, indicating healthy demand for such space.
The 2.2-million-square-foot development would add to the growing inventory of industrial buildings, which is causing vacancy in the sector to tick up.
Leaders of Cushman & Wakefield pointed to several factors during the firm’s annual State of Real Estate outlook when providing their rosy forecast.
