INDIANAPOLIS—The US industrial market has finally started to experience a solid recovery, but few regions have shown as much strength as Indianapolis. And Cabot Properties and Quadrangle Development Co. have just decided to take advantage of the area’s strong demand by starting the development of 650 Commerce, a 470,000-square-foot speculative industrial facility in suburban Greenwood, one of the strongest submarkets. The partners have already begun construction and say tenants could occupy the new building by the first quarter 2015.

Luke J. Wessel, the senior managing director of the Indianapolis office of Cassidy Turley will market the property. McShane Construction Co. and JRA Architecture, Inc. will design and build the facility. Located just 14 miles from downtown Indianapolis, the speculative development will sit within the Precedent South Industrial Park at 650 Commerce Parkway East Dr.

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