INDIANAPOLIS—The US industrial market has finally started toexperience a solid recovery, but few regions have shown as muchstrength as Indianapolis. And Cabot Properties andQuadrangle Development Co. have just decided totake advantage of the area's strong demand by starting thedevelopment of 650 Commerce, a 470,000-square-foot speculativeindustrial facility in suburban Greenwood, one of the strongestsubmarkets. The partners have already begun construction and saytenants could occupy the new building by the first quarter2015.

Luke J. Wessel, the senior managing director ofthe Indianapolis office of Cassidy Turley willmarket the property. McShane Construction Co. andJRA Architecture, Inc. will design and build thefacility. Located just 14 miles from downtown Indianapolis, thespeculative development will sit within the Precedent SouthIndustrial Park at 650 Commerce Parkway East Dr.

“Situated along the I-65 corridor, 650 Commerce is located inclose proximity to downtown Indianapolis, the IndianapolisInternational Airport and the area's extensive interstatenetwork offering convenience, access and positioning to maximizeefficient operations for a variety of users,” said Wesel in aprepared statement. He was not available by press time, butGlobeSt.com will provide an update. “The opportunity for newconstruction offering a modern design together with a 10-year realestate tax abatement provides outstanding advantages for tenantsseeking contemporary industrial space.”