The Keystone Automotive lease helps raise ProLogis's occupancy rate in the Indianapolis market to 94%. "We are pleased to announce that, with this transaction, our Indianapolis portfolio is 94 percent leased," says Elizabeth Kauchak, VP and market officer for ProLogis.
"While current economic conditions are difficult, Indianapolis has remained a popular choice for our customers due to its strategic location in the Midwest and excellent accessibility to national highway systems," Kauchak says.
While the terms of the lease were not disclosed and the rental rate is listed as negotiable on ProLogis' building information fact sheet.
This is Keystone's first lease in a ProLogis facility in the Indianapolis area, however the company does also occupy space in ProLogis buildings in Texas and Nevada having worked with the company since 1998.
Keystone Automotive, which specializes in aftermarket collision replacement parts, is a subsidiary of LKQ Corp.
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