A Tennessee-based distribution company is expanding its central Indiana footprint. Ozburn-Hessey Logistics LLC is leasing an additional 450,000 square-feet of space in Plainfield. Transpacific Development Co., the California company that completed the deal, says it is one of the largest transactions of its kind in the Midwest this year. March 3, 2015
TORRANCE, Cal. (March 2, 2015) – In one of the largest distribution lease transactions in the Midwest so far in 2015, Transpacific Development Company announced that it has executed a lease with OHL (Ozburn‐Hessey Logistics) for 450,000 square feet of distribution space at 2450 Stanley Road, Plainfield, Indiana. With this transaction, which covers the entire building, OHL now leases three full buildings from TDC in the Plainfield submarket.
“We are very pleased that OHL has elected to expand into our new property,” said Thomas Irish, President of TDC. “OHL is TDC's largest tenant based upon square footage, as they also lease our buildings at 1100 and 1101 Whitaker Road. We feel fortunate to be associated with a world‐class, truly‐global 3PL firm like OHL.”
“OHL has grown significantly over the years, and one catalyst for that growth has been our robust warehouse network across the U.S.,” stated Randy Tucker, President of Contract Logistics and Transportation Management of OHL. “TDC has facilitated that growth through investing in the expansion of our business in the Indianapolis area. A major component of OHL's success is our ability to provide flexible warehouse and distribution solutions to our customers, and TDC has continually gone the extra‐mile to enable our success.”
OHL is represented globally by Jeb Atkinson, Jess Andrews, Brian Camp and Doug McDowell of ProVenture, and was assisted locally by Steve Schwegman of Jones Lang LaSalle. The landlord was represented by Michael Weishaar and Luke Wessel of DTZ.
Although terms of the transaction were not disclosed, it is the largest new distribution lease in the Indianapolis market so far this year, and one of the five largest new leases in the past twelve months, according to DTZ.
“OHL's continued expansion is a validation of how attractive the Indianapolis market is to major distribution firms,” said Irish. “With nearly 3,000,000 square feet in the area, OHL is one of the largest distribution tenants in Central Indiana, and their growth has coincided with the growth of the distribution market here. JLL ranks Indianapolis as one of the top 15 industrial markets in the U.S., and the absorption of 450,000 square feet of new space is an indicator that it is a very healthy market. With a modern airport, excellent interstate highway
system, solid work force and affordable cost of living, the Indianapolis distribution market is poised for success in 2015.”
TDC acquired the newly‐constructed 2450 Stanley Road building in 2013. The building features a 32’ clear height, 40 dock doors in a cross‐dock configuration, T‐5 lighting, and three entrances off of Stanley and Perry Roads. With this lease to OHL, TDC’s Indianapolis‐area portfolio is now 97.6 percent leased.
OHL is one of the largest 3PLs in the world, providing integrated global supply chain management solutions including transportation, warehousing, customs brokerage, freight forwarding, and import and export consulting services. OHL operates more than 130 value‐added distribution centers, offers comprehensive transportation management services, employs nearly 8,000, and has 34 brokerage and agent offices worldwide. OHL has expertise in efulfillment, serves a wide range of business sectors from specialty retail to
manufacturing and specializes in the textiles and apparel, footwear, electronics, retail, printing, healthcare, food and beverage and consumer packaged goods industries. www.ohl.com
About Transpacific Development Company
TDC is a commercial real estate development and investment firm based in Torrance, California. Founded in 1954, the firm invests and develops for its own account, without outside partners or investors. TDC entities currently own approximately 9,000,000 square feet of property, with more than 5,000,000 square feet of property in the Indianapolis market. For more information on TDC, visit www.transdevco.com.
Source: Transpacific Development Co.