Two-building spec distribution development set for Greenwood

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Two real estate companies announced plans Tuesday to build a pair of speculative distribution buildings totaling 708,000 square feet south of Greenwood.

Chicago-based developer CA Industrial and New York City-based real estate investment manager Clarion Partners said the two-building Indy South Logistics Center would be constructed at 955 N. Graham Road, just east of Interstate 65 and south of County Line Road.

Construction is expected to be completed by summer 2022.

The companies declined to disclose the cost of the project.

No tenants are lined up, but the developers expect high demand for the space.

“The Indianapolis modern logistics market is both undersupplied and extremely active, creating an insatiable demand for quality facilities in highly-accessible locations,” said Ed Pitula, vice president of development for CA Industrial, in written remarks. “The Indy South Logistics Center allows CA Industrial to capitalize on the significant opportunity existing in the submarket. We look forward to watching the success of this development amongst a wide range of tenants as we bring the product to market.”

Indianapolis-based The Peterson Co. is serving as general contractor for the project. Steve Schwegman and Brian Seitz of JLL’s local office are leasing brokers for the properties.

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