Speculative Project Opens 76% Leased
(INDIANAPOLIS, September 24, 2015) – Becknell Industrial announced today that leasing momentum continues at its North by Northwest Industrial Park. The park that began as a 100 percent speculative project in August 2014, recently opened at more than 76 percent pre-leased to four tenants.
In April 2015, Sunrise Medical, a leading manufacturer of wheelchairs and mobility products, leased 70,200 square feet in the 8401 building. Cardinal Health, formerly The Harvard Drug Group - a distributor of generic pharmaceuticals, over-the-counter medications and related products to retail, institutional and alternate care customers, leased the remaining 196,200 square feet in June 2015.
In July 2015, Sankyo America, supplier of various plastic materials used for diverse applications mainly in the automotive industry, leased 67,850 square feet in the 8421 building. Business Furniture, a provider of office furniture services including design, delivery and installation, leased the remaining 56,350 square feet which will commence in November 2015.
“We are pleased with the momentum and success at North by Northwest. We are proud that the Becknell team was able to purchase and develop this site in less than a year while fully leasing two of the three buildings before construction was complete,” said Pete Anderson, Executive Vice President – Investments for Becknell. “We could not have achieved the success at North by Northwest without the support of the real estate community, particularly the brokers embracing the location and functionalities of these properties. Through a true team effort we collaborated to meet their client’s needs.”
Lease transaction representatives included Tom Cooler of CBRE for Sunrise Medical & Cardinal Health; Sean McHale of Colliers International for Sankyo America and Jay Gehl of Hokanson for Business Furniture. Cushman & Wakefield’s Michael Weishaar and Todd Vannatta continue to represent Becknell Industrial for this project.
Currently available, the 8441 Building totals 124,200 square feet and features 28′ clear height, ESFR, up to 28 dock doors, four drive-in doors and abundant car and trailer parking.
North by Northwest Industrial Park is located at 86th Street and Bearing Drive on the Northwest side of Indianapolis. The 31-acre site provides immediate access to I-465 and I-65 and is located just 20 miles from the Indianapolis International Airport. Since 2012, Becknell has grown its portfolio in Indianapolis from no investment to 1.3 million square feet in eight properties.