Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PLAINFIELD, IN-Electrolux Home Products has signed a lease for 363,480 sf of warehouse space at 700 Airtech Parkway in Plainfield, IN, a suburb of Indianapolis.

Electrolux manufactures personal and professional appliances including refrigerators, cookers, washing machines, dishwashers, vacuum cleaners, chainsaws, lawn mowers and tractors. The company will utilize the space for warehouse and storage purposes. The lease commences in December. Electrolux is relocating from 221 S Franklin in Indianapolis.

700 Airtech Parkway is a 799,344-sf distribution facility is located in AirTech Park, a 490-acre master planned distribution park. KeyStone Property Trust owns the building in a joint venture with Browning Investments Inc. The building features 36-foot clear ceiling heights.

The Electrolux lease brings the building to full occupancy. USCO Logistics, a third party logistics firm, occupies the remainder of the building on behalf of J.C. Penney. The lease rate on the Electrolux transaction was not released by the parties involved and was not otherwise immediately available. Brokers familiar with the transaction says the gross asking rate for the space was $3.25 per sf per year.

Trammell Crow Company broker Seth Kelly represented Electrolux in this lease transaction. Keystone was represented by Colliers Turley Martin Tucker broker Luke Wessel. Wessel tells GlobeSt.com that Plainfield has a little over 14.5 million sf of bulk distribution product and that this year alone deals have been signed for some 3.5 million sf. “Indianapolis is outpacing other Midwest markets,” says Wessel. “Its location is good and the cost of business is very competitive.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.