A joint venture between Distribution Realty Group in Chicago and a private real estate fund advised by Crow Holdings Capital in Texas has announced plans for a new spec building in Plainfield. The nearly 340,000-square-foot industrial building will be designed to appeal to high-end warehouse and logistics companies seeking space in Indianapolis.
The joint venture did not provide an investment figure for the new building. The facility will include 32-foot clear ceiling heights, LED lighting, up to 74 dock doors, 67 on-site trailer stalls, and flexibility for three separate tenants.
"We are pleased to commence construction of Plainfield Distribution Center within the AllPoints Midwest business park," said Curran Darling, senior vice president of acquisitions and asset management in the Midwest for DRG. "From this location, our customers can take advantage of the nearby interstate access, FedEx Air Cargo Hub and UPS Regional Hub. The location, coupled with the low Hendricks County real estate taxes secured through a 10-year tax abatement, will provide exceptional advantages for logistics users."
A time frame for the project’s completion was not provided.