Ground Broken on Two-Building Logistics Center

Ground Broken on Two-Building Logistics Center

CA Industrial and Clarion Partners announced the groundbreaking of the Indy South Logistics Center in Greenwood, Indiana – a two-building development totaling approximately 708,000 square feet. Construction of both buildings is anticipated to be completed in the summer of 2022.

“The Indianapolis modern logistics market is both undersupplied and extremely active, creating an insatiable demand for quality facilities in highly-accessible locations,” said Ed Pitula, vice president of development for CA Industrial. “The Indy South Logistics Center allows CA Industrial to capitalize on the significant opportunity existing in the submarket. We look forward to watching the success of this development amongst a wide range of tenants as we bring the product to market.”

Situated at 955 N Graham Road, Indy South Logistics Park is a modern two-building distribution park with immediate access to I-65 and Indianapolis’s main circular I-465 which connects it to I-70 and the Indianapolis International Airport and Fedex Airhub in 15 minutes, making it well suited for both local and regional distribution. The infill industrial site is surrounded by significant distribution users including Amazon, FedEx, XPO, Ulta and Amcor, and includes 141 trailer parks, 554 car parks and 32-36-foot clear heights.

“The Greenwood site marks another excellent addition to our growing portfolio of industrial assets as we increase our presence across some of the most supply constrained markets in the U.S.,” said Michael Podboy, president of CA Industrial. “With immediate access to I-65 – which services Indianapolis and is a major north-south thoroughfare connecting Chicago to Nashville – Indy South is a strong representation of our investment strategy coming to life as we deliver modern, differentiated mid-sized products to support the continued growth of e‑commerce.”

“This development opportunity allows Clarion to continue expanding our footprint in the greater Indianapolis market, providing the ability to capitalize on a great location while complementing our existing presence in the Greenwood submarket,” said Clarion’s senior vice president of asset management Michael Williams.

Since the start of 2021, CA Industrial has closed transactions representing approximately $400 million in total project costs and remains on track to commence development projects totaling more than 5 million square feet of industrial space across the US, including facilities in Denver, Phoenix, Dallas, Atlanta, Savannah, Columbus and Las Vegas, among others.

The Peterson Company serves as general contractor for the project and JLL’s Steve Schwegman, SIOR, and Brian Seitz, SIOR, serve as leasing brokers for the properties.

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