(To read more on the multifamily market, click here.)

PLAINFIELD, IN-A second building, MetroAir Three, has broken ground at MetroAir Business Park. It is a 248,336-sf spec industrial facility that will be ready for occupancy in spring 2007.

It is located on a 13.3-acre site at Stafford Road and Ronald Reagan Parkway within the 56-acre master-planned industrial park under development by a joint venture between Rosemont, IL-based McShane Corp. and Indianapolis-based Horne Properties LLC. The first, 109,782-sf Building One is fully leased for a 10-year term to DJO Inc., a global medical device supplier.

Joseph Llamas, McShane’s senior development manager, tells GlobeSt.com the all-in cost of Building Three, including the price of the land, is approximately $11 million. It will have a 28-foot clear height, 30 exterior docks, six drive-in doors and 50- by 50-foot bay spacing. There is a 140-foot truck court and parking for 280 vehicles.

The design can accommodate a single tenant or multiple ones in units divisible to 25,000 sf. Of the rental rate, Llamas says, “we’re looking at between $4.10 per sf and $4.20 per sf, triple net.”

MetroAir park is planned to accommodate 775,000 sf of industrial space in five buildings. Construction of a third building “will depend on the success of this one,” Llamas says, but anticipates that additional construction will begin within the next 12 to 18 months.

It includes potential build-to-suits from 40,000 sf to 200,000 sf, according to Llamas. The park can accommodate retail and specialty office product, such as medical and life science facilities, in addition to manufacturing and distribution buildings. Patrick B. Lindley of Colliers Turley Martin Tucker is the park’s marketing agent.

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?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

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 © 2023 ALM Global, LLC. All Rights Reserved.