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.