Retail users (both traditional and e-commerce), 3PL providers and food and beverage manufacturers are the most active tenants in the market.

1. Retail users (both traditional and e-commerce),
3PL/logistics providers and food and beverage
manufacturers are the most active tenants currently in
the market for industrial space within the Indianapolis
MSA.
Leasing activity
West/Southwest
• Ozburn-Hessey Logistics (OHL), a worldwide logistics and supply
chain management provider, expanded in the market by signing a
lease for 450,000 square feet at 2450 Stanley Road in Plainfield.
• OHL also renewed for 400,000 square feet at 2425 Perry Road in
Plainfield.
• Kuehne & Nagel, a leading worldwide provider of supply chain
solutions, signed a renewal for 126,000 square feet at 2840 Fortune
Circle West Drive in Indianapolis.
• Kid Glove Service, Inc., an in-house packaging, warehouse and
transportation provider, signed a new lease for 125,000 square feet of
distribution space at 4750 Kentucky Avenue in Indianapolis.
• Wilson Laboratories agreed to lease 122,000 square feet at 7900
Rockville Road in Indianapolis.
Northwest
• The Harvard Drug Group, an independent pharmaceutical provider,
signed a direct lease for 196,000 square feet in a soon to be
completed speculative building located at 8401 Bearing Drive in
Indianapolis. The Harvard Drug Group will relocate operations from a
nearby facility in Park 100 later this year.
• Sunrise Medical, a leading manufacturer of wheel chairs, also leased
a 70,000-square-foot space at 8401 Bearing Drive. The building will
now be 100.0 percent occupied when it comes online next quarter.
Northeast
• Kerman’s Flooring signed a new 67,000-square-foot lease at 8700
Roberts Road in Fishers to serve as its new distribution center.
Tenants in the market
• More than 8 million square feet of active tenant requirements currently
exists within the Indianapolis MSA.
• Several of the largest user requirements are retail users, both
traditional retailers, as well as e-commerce retailers.
Sales activity
West/Southwest
• Clarion Partners purchased GreenParke I, a 771,000-square-foot
facility located at 3747 Plainfield Road in Plainfield from Welsh
Property Trust. The building which was built on a speculative basis
towards the end of 2013 was vacant at the time of purchase.
• Meritex Enterprises, Inc. closed on MetroAir 3 located at 758 Columbia
Road in Plainfield. This midsize, multi-tenant warehouse facility totals
248,000 square feet and was 100.0 percent leased at the time of
purchase. Horn Properties/Strategic Capital Partners was the seller.
• Wood-Mizer, a global leader in the portable sawmill industry, bought a
147,000-square-foot manufacturing facility located at 8180 W. 10th
Street in Indianapolis from T&L Enterprises, LLC.
Northwest
• Fastenal Company purchased a 221,000-square-foot building at 3939
E. 56th Street in Indianapolis. The property was sold vacant and
Fastenal will redevelop the property as part of its expansion plans.
Northeast
• Hendricks Commercial Properties, LLC. purchased a 209,000-square-
foot three building office/flex portfolio located in Carmel Tech Center in
Carmel. Atapco was the seller.
Industrial Highlights
Indianapolis | Q1 2015
Vacancy
Rents
Net absorption
Leasing volume
Sales prices
Sales volumes
Construction
deliveries
Arrows represent change from prior quarter

2. Sales activity (continued)
CBD
• Enflora Flowers acquired a 179,000-square-foot manufacturing facility
located at 1853 Ludlow Avenue in Indianapolis from ATCO Rubber
Products.
East
• Caito Foods Service, Inc. bought a 128,000-square-foot midsize
warehouse facility located at 3120 N. Post Road in Indianapolis from
Trident Capital Group. Caito Foods is one of the premier distributors of
fresh produce in the United States, and this new facility will enable
them to meet increasing demand.
Construction activity
West/Southwest
• Clarion Partners delivered a 353,000-square-foot distribution center in
Plainfield at 2370 E. Perry Road. Plainfield One is already half leased
as SWS has agreed to take 176,000 square feet of space in the
building.
• Construction continues on AllPoints Midwest Building 6 in Plainfield.
Duke Realty/Browning Investments will deliver the nearly 1-million-
square-foot speculative distribution center next quarter.
• G&D Realty/Peterson Development is nearing completion on a
564,000-square-foot distribution center located at 7600 Rockville Road
in Indianapolis. The building is being developed on a speculative basis
and is expected to come online during the second quarter.
• Work continues on MetroAir 4 and 5 in Plainfield. Horn
Properties/Strategic Capital Partners is developing both buildings on a
speculative basis with an expected delivery date of Summer 2015.
The buildings total 297,000 square feet and 127,000 square feet
respectively.
Northwest
• Becknell Industrial will deliver three buildings next quarter. 8401
Bearing Drive in Indianapolis is a 266,000-square-foot midsize
warehouse that broke ground on a speculative basis, but has since
been fully leased by The Harvard Drug Group and Sunrise Medical.
Meanwhile, 8421 and 8441 Bearing Drive are twin 124,000-square-
foot speculative midsize warehouse facilities that will come online
without a tenant in place.
• GDI/NorthPoint Development is wrapping up construction on
NorthPoint One in Lebanon. This 741,000-square-foot distribution
center is being developed on a speculative basis and will be delivered
this Spring.
• Maplehurst Bakeries will move into a new 180,000-square-foot build-
to-suit (BTS) facility in Lebanon upon its completion in the second
quarter.
Construction activity (continued)
Northwest (continued)
• Valenti Held Real Estate Group completed a 34,000-square-foot
facility at 3881 Perry Boulevard in Whitestown. This midsize
warehouse was built on a speculative basis.
East
• Tippmann Construction is developing a 426,000-square-foot facility for
John Morrell Food Group within Axcess 70 in Greenfield. It is
anticipated that the building will be completed by late-2015 or early-
2016.
South/Southeast
• Cabot Properties/Quadrangle Development Company delivered 650
Commerce this quarter. The building offers 470,000 square feet of
distribution space in Precedent South in Greenwood.
• IDI finished work on a 671,000-square-foot BTS distribution center for
Ulta Beauty at 950 N. County Line Road in Greenwood.
• Becknell Industrial completed a 100,000-square-foot BTS for Poynter
Sheet Metal at 750 Commerce Parkway West Drive in Greenwood.
Key market availabilities over 500,000 square feet
For more information, please contact:
Mike Cagna
Senior Research Analyst
Indianapolis
+1 (317) 810 7358
Mike.Cagna@am.jll.com
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Building Name Submarket Total
available
(square feet)
135 Mt. Zion Road Northwest 1,091,435
AllPoints Midwest Building 6 West/Southwest 936,510
Greene Park I West/Southwest 770,640
NorthPointe One Northwest 741,000
Sunbeam One West/Southwest 597,844
7600 Rockville Road West/Southwest 563,760
Park 267 Northwest 501,120