LEBANON, IN-Duke Realty Corp. launched construction of a 650,000-sf industrial building here on the strength of a 306,000-sf pre-lease by Aurora Parts & Accessories LLC. Completion of the new building at Lebanon Business Park is scheduled for October.Aurora Parts & Accessories was formed by the management of Wabash National Corp., a truck-trailer manufacturer based in Lafayette, in order to purchase the company’s Aurora Parts and Aurora Trailer Leasing division. Jefferies Capital Partners assisted in the buyout and has an ownership stake in the new company. The new seven-year lease was signed in order to move the division out of Wabash facilities in Lafayette. The announcement of the April lease signing was delayed in order to give time for the new management to work with existing employees regarding the business relocation.The Duke Realty building is the 14th building in the business park. The annualized gross lease asking rate for the space was $3.20 per sf, and the negotiated rate is believed to have come in slightly below that. The build out includes 15,000 sf of office space and a crane bay. John Demareee and Jeremy Woods represented Aurora Parts in its lease negotiation. Duke Realty represented itself.

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