SOURCE: Becknell Industrial
May 03, 2017 11:56 ET
Momentum Continues for Becknell in the Indianapolis Market
Market Presence Surpasses 2 million Square Feet
INDIANAPOLIS, IN--(Marketwired - May 03, 2017) - Since entering the market in 2013, Becknell Industrial continues to expand its presence in Indianapolis. In addition to three acquisitions totaling more than 450,000 square feet, the Company has developed nearly 1.6 million square feet in just three years.
In March, Old Castle, one of the world's leading building products and materials companies, leased the remaining 124,200 square feet available in the Company's North by Northwest Industrial Park. The park that began as a 100 percent speculative project opened at more than 76 percent pre-leased in late 2015 and is now fully leased.
Leasing momentum also continues at its newest development, Eagle Creek Industrial Center, located on the northwest side of Indianapolis in Whitestown. The park that began as a 100 percent speculative project in late 2015 is now nearly fully occupied. Most recently, Alliance Health, a digital health and wellness company, leased the remaining 26,000 square feet of Building Two. Only the remaining 152,000 square feet of Eagle Creek Building One is currently available for lease.
Becknell continues to further its commitment and establish the Indianapolis MSA as a key investment market. The Company currently has a 357,000 square-foot speculative cross dock distribution facility under construction at Plainfield Distribution Center. This modern state-of-the-art facility features 36' clear height, up to 84 dock doors, extensive car and trailer parking and has the potential for full security. Offering a 10-year real estate tax abatement, the facility will be completed in May 2017 and is currently available for lease.
In addition, the Company has build-to-suit opportunities in Greenfield and Greenwood. Alliance Interstate Park in Greenfield can support developments from 150,000 - 700,000 square feet and offers close proximity to I-70 and a 10-year real estate tax abatement. Southtech Business Park in Greenwood can support developments from 64,400 - 300,000 square feet and is conveniently located off of I-65 and also offers a 10-year real estate tax abatement.
"Indianapolis continues to see high demand for our mid-size industrial buildings. We are excited about the possibility of being able to serve brokers and users in the area that need a build-to-suit or space to lease," said Pete Anderson, Executive Vice President - Investments for Becknell.
Address City Tenant Square Feet Total SQ FT
7048 W 200 N Greenfield Landsberg 100,000 100,000
3052 Distribution Way Greenfield Spectra 250,000 250,000
775 Commerce Parkway West Dr Greenwood Poynter Sheet Metal 100,440 100,440
999 Gerdt Court Greenwood Poly-Tainer 66,282 132,315
NSK Corporation 66,033
8401 Bearing Drive Indianapolis The Harvard Drug Group 196,200 266,400
Sunrise Medical 70,200
8421 Bearing Drive Indianapolis Sankyo America 67,850 124,200
Business Furniture 56,350
8441 Bearing Drive Indianapolis Old Castle 124,200 124,200
2155 Stafford Road Plainfield Spec - 357,000
3990 Perry Boulevard Whitestown MWI Veterinary Supply 70,000 70,000
4820-50 Indianapolis Road Whitestown Cummins 171,000 323,000
4910-38 Indianapolis Road Whitestown Stephen Gould 130,000 156,000
Alliance Health 26,000
Total Square Feet 2,003,555
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 151 properties totaling nearly 19 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.
Shona L Bedwell