Familiar Partners Start Sixth Project
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Browning Investments Inc. and Duke Realty Corp. are partnering to build a sixth move-in ready warehouse near Indianapolis International Airport. The 770,000 square-foot warehouse will be known as AllPoints Midwest Building 6. August 11, 2014
News Release
INDIANAPOLIS, Ind. — Browning/Duke Realty, a joint venture between the two Indianapolis-based commercial real estate developers, has announced that it will build a new 936,510-square-foot building in AllPoints Midwest, its industrial development southwest of Indianapolis just off I-70 near Indianapolis International Airport. The building, which will be known as AllPoints Midwest Building 6, will be the only facility in the greater Indianapolis metro market that can offer more than 770,000 square feet of contiguous space.
“Interest in AllPoints Midwest in the past 18 months has been strong with three companies, including Walmart, choosing our development park for build-to-suit warehouses,” said Charlie Podell, Senior Vice President of Duke Realty’s Indiana operations. “Numerous companies, however, need warehouse/distribution space quickly and can’t wait 9–12 months for a build- to-suit facility. We want to be able to meet their needs as well. This new speculative building will allow us to offer move-in ready, first-class space for clients’ with immediate needs.”
“AllPoints Midwest continues to be a desirable location because of its superior highway access, proximity to the airport and rail connectivity through CSX Railroad’s Avon Intermodal yard,” said John Hirschman, President and CEO of Browning. “Soon the park will be well-served by public transportation as well. The Central Indiana Regional Transportation Authority (CIRTA) has announced plans to launch a route that will include stops throughout AllPoints Midwest. The service, which should be operational by Thanksgiving, will help ensure an adequate workforce availability and accessibility for companies that locate here.”
AllPoints Midwest 6 is being built on 63.09 acres just off Ronald Reagan Parkway and Bradford Road, immediately adjacent to a 1.2 million-square-foot facility occupied by Prime Distribution Services. The precast concrete building will include 36' clear height, a TPO energy-efficient roofing system, up to 1,300 car parking spaces, up to 394 trailer staging spaces and up to 200 potential docks with 80 – 9' x 10' dock doors in place.
One of the newest and largest modern bulk distribution parks in the Indianapolis area, AllPoints Midwest, which is being jointly developed by Browning and Duke Realty, includes 958 acres which will support approximately 13.6 million square feet of space.
To-date, Browning/Duke Realty has developed five buildings, including two that are currently under construction, totaling approximately 3.8 million square feet, all of which are 100 percent occupied. In addition to Walmart, which will occupy a 1.2 million-square-foot distribution building before year-end 2014, and Prime Distribution Services, other companies in the park include Regal in a 376,000-square-foot, built-to-suit facility and Ingram Micro in 534,000 square feet of space. A 613,872-square-foot, build-to-suit distribution center for a nationwide consumer products company also is under development in the park.
“AllPoints Midwest has so much to offer companies looking for space given its location in this key industrial hub and available transportation options,” added Podell. “We are excited to be able to enhance the appeal of this park with a large, first-generation facility that’s ready and available for clients with immediate warehouse needs.”
More than 600 acres of land are available in AllPoints Midwest for future development. Interested parties are invited to contact Duke Realty at 317.808.6000 or Browning Investments at 317.344.7300.
About Browning
Founded in 1977, Browning remains one of the premier development companies in Indianapolis and is engaged in the acquisition, development, construction, leasing, management, ownership and disposition of investment real estate properties, primarily in the Indianapolis metropolitan area. In total, Browning has developed and constructed more than 15 million square feet of space. To learn more, visit: www.browninginvestments.com
About Duke Realty
Duke Realty owns, maintains an interest in or has under development approximately 156.5 million rentable square feet of industrial and office assets, including medical office, in 22 major U.S. metropolitan areas. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.
Source: Duke Realty Corp. and Browning Investments Inc.