(INDIANAPOLIS, November 12, 2014) – Becknell Industrial announced today that it has broken ground on three industrial buildings totaling 514,800 square feet on the northwest side of Indianapolis. These new state of the art facilities are being built on 31 acres within the North by Northwest Industrial Park. Scheduled for delivery early next year, the project provides immediate access to I-465 and I-65 and is located just 20 miles from the Indianapolis International Airport.
“Recognizing an opportunity to expand our presence in Indianapolis, we acquired the land parcel in September 2013,” said Pete Anderson,” Becknell’s Executive Vice President Investments. “It was on the market for over 10 years and was the largest remaining land site in the Park 100 area. Now that it is being developed, there is strong interest in the space from many growing businesses seeking a modern functional facility in Marion County. In fact, we recently signed a client for 56,000 square feet.”
A new 266,400-square-foot cross-docked facility will feature, 32′ clear height, up to 78 dock doors, three drive-in doors, ESFR sprinkler system and abundant car and trailer parking. It will be available for occupancy in February 2015.
The remaining two buildings are each 124,200 square feet and feature 28′ clear height, ESFR, up to 28 dock doors, four drive-in doors and abundant car and trailer parking. These buildings will be available in May 2015.
Becknell has selected Cassidy Turley’s Michael Weishaar and Todd Vannatta to market these facilities in the North by Northwest Industrial Park.
“Although spec construction in the area is definitely on the rise, this project is one of the few spec buildings in Marion County currently under development. These buildings represent the most modern functional opportunities in the Park 100 area. In addition, they offer very competitive rates along with tax abatement. We are excited to be part of the project.” said Michael Weishaar, Managing Director, Principal, Cassidy Turley.
With this new development in North by Northwest, Becknell continues to reinforce its commitment to the Indianapolis market. Upon completion, the Company will own nearly one million square feet and have invested a total of $46 million in the market in just 18 months.
About Becknell Industrial
Becknell Industrial specializes in the development, investment and management of industrial properties across the United States. The company currently owns interests in more than 100 properties totaling over 10 million square feet. Vertically integrated, Becknell is responsible for every aspect of the project providing the decision-making authority and expertise to meet client expectations for a high-performance facility delivered on time and on budget. More information about Becknell is available at www.becknellindustrial.com.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 4,000 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting.
Cassidy Turley announced in a press release on September 22 that it has entered into an agreement with an affiliate of DTZ Investment Holdings, backed by TPG, PAG Asia Capital and Ontario Teachers’ Pension Plan (the Consortium that agreed to acquire DTZ), to sell 100% of the equity interests of Cassidy Turley. The agreement is subject to customary closing conditions and is dependent on Cassidy Turley’s combination with the operations of DTZ Group (DTZ) to create a global, full-service commercial real estate services company. The Consortium’s acquisition of DTZ closed November 5, 2014. The acquisition of Cassidy Turley is expected to close December 31, 2014.
The Indianapolis Business Journal 2014 Book of Lists ranks Cassidy Turley as #1 Indianapolis-area commercial real estate brokerage and the #1 Indianapolis-area commercial property management firm. Cassidy Turley has been named one of the Best Places to Work in Indiana by the Indiana Chamber of Commerce for each of the past eight years. Please visit www.cassidyturley.com for more information.
Michael W. M. Weishaar