Several sprawling distribution centers have been built, or are under construction, to ship directly to consumers.
A tax-abatement request for the project filed with the city last week said the 434,400-square-foot flex industrial building will be built on a speculative basis.
Indianapolis Business Journal gathered leaders in the state's commercial real estate and construction industry for a Power Breakfast panel discussion Sept. 13.
Among the topics the panel discussed were the factors driving downtown growth, which types of office space are in demand, the types of projects being built, and how the industrial sector has sustained its strength.
Becknell Industrial LLC has proposed a $26 million, three-building development on the northwest side of Indianapolis that would be ready for tenants by early 2015.
The speculative building totaling more than 930,000 square feet will be constructed at the developers’ AllPoints Midwest industrial park.
CrossLake Partners spent more than $40 million to buy 21 buildings spread between the northwest-side industrial parks of Corporate Center North and Park 100.
Chambers Street Properties purchased the 622,440-square-foot distribution center completed early last year. Hartz Pet Products occupies the entire space.
The city’s largest real estate brokerage predicts that 2014 will mark the first year the economy feels like it’s actually recovering, as all sectors of the commercial real estate market continue to improve.
They plan to spend $14 million to build the 542,000-square-foot warehouse on 33 acres on the city’s west side. One condition of the tax abatement is finding a user that would create at least 50 jobs by 2018.
HSA Commercial Inc. plans to break ground later this month on the 220,000-square-foot building in the Gateway Business Park near Columbia Road and Ronald Reagan Parkway.
The vacant Sherman Park business complex on the east side has been taken from a private developer in a bankruptcy reorganization, and several parcels of the 49-acre property are listed in the county's annual tax sale.
The acquisition of the 450,000-square-foot distribution center is another sign of the improved health of the Indianapolis area’s industrial market.