S2f Takes First Lease in Two-Year-Old Building

The company will be the first lease signed in the 481,000-square-foot Building Nine, developed by Opus North Corp. in 2007, said an S2f official. The lease rate was unavailable. Opus had said during development that the facility should lease for $3.25, net, and current market rates support that assumption. The address is 2675 Reeves Rd., in the 490-acre Airwest business park located on Interstate 70, about two miles from the Indianapolis International Airport and the FedEx hub.

The s2f firm, a minority business enterprise, reportedly includes a few prominent business executives as investors, such as wireless phone distributor Brightpoint, Simon Equity Partners' Stephen Simon and Conseco Inc. founder Stephen Hilbert. In a statement, the firm said it will serve customers in the automotive, life sciences, telecommunications and retail markets, among others. "By 2014, the global market in logistics could swell to $600 billion," an s2f spokesman tells GlobeSt.com. "By some estimates, about one-third of companies that don't outsource such work today could do so in the next 12 months."

The firm earned state help, with the Indiana Economic Development Corp. offering $2 million in performance-based tax credits and up to $45,000 in training grants, based on the company's promise to create 250 jobs by 2013. The state is trying to encourage logistics businesses to move to Indiana. "There is no location more accessible or more convenient for logistics operations," said Gov. Mitch Daniels in the s2f statement.

Plainfield will consider an additional property tax abatement at the request of the Hendricks County Economic Development Partnership. The city is seeing continued growth recently, such as Medline Industries leasing a 180,000-square-foot facility here for its medical equipment and supplies distribution.