The new building will be the second facility built at Park 267at the intersection of Interstate 65 and State Route 267, about 20miles north of Indianapolis. The park is 54 acres, and onlyincludes another 501,000-sf BTS facility for Suburu of America Inc.The LaCrosse building will complete the park, says ElizabethKauchak, a ProLogis VP. "We can't discuss the specific lease ratesby the tenants, but the average rate in the area $3 triple netrange." The tenant was able to earn a 10-year tax abatement for theproperty.


The park is owned by the JV, and Browning does the constructionfor the site. The venture have developed more than five million sfof industrial space around Indianapolis for tenants such as Subaru,OH Logistics, Belkin Corp., Electrolux and J.C. Penney. "LaCrossewas considering Columbus for this site as well, but they felt Indywould do better for national distribution. There's about 220million sf in the Indianapolis area, and this submarket has seenseveral recent deals lately," she tells The Portland,OR-based tenant is using the center to reach the Midwest and theEast Coast, she says. About 70% of the company's domestic customerscan be reached from within one day from Indianapolis.

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