The Lebanon park is just off Interstate 65 at the State Road 32exit. The new MSI property will have space for a possible 40,000square foot expansion, says Jay Archer, VP of leasing with Duke.The new facility will be a 200-foot deep build-to-suit, with24-foot clear heights, four dock-high doors and one drive-in door,as well as 6,500 square feet of office. Groundbreaking on the siteis scheduled for May 2009, with completion expected in December2009.

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Archer tells GlobeSt.com that the Indianapolis industrial marketis still doing well, though the size of the new developments hasshrunk from five years ago. He says his firm's20-million-square-foot portfolio in the local market is about 96%occupied. "We've continued to have good distribution growth. Therewas a lot of building done in 2006 and early '07, but that slowedin '08, and we've been backfilling. We were seeing up to1.2-million-square-foot projects until late 2007, but the momentumthis year has been 100,000 square feet to 400,000 square feet,"Archer says.

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The company has a few other projects going in the area,including a 553,000 square foot building going up at AllPointsMidwest in February 2009, and another 517,000 square foot buildingset for construction at AllPoints Anson, as well as a $38 million,300,000-square-foot facility going up for US Cold Storage Inc. hereat the Lebanon park, with a rail requirement opening up another 250buildable acres.

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