X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WHITESTOWN, IN-LaCrosse Footwear has asked a joint venture of ProLogis and Browning Investments Inc. for a 380,000-sf build-to-suit facility for its new Midwest distribution operations. The company is consolidating from two distribution sites in LaCrosse, WI. The building is supposed to be complete in the first half of 2009.

The new building will be the second facility built at Park 267 at the intersection of Interstate 65 and State Route 267, about 20 miles north of Indianapolis. The park is 54 acres, and only includes another 501,000-sf BTS facility for Suburu of America Inc. The LaCrosse building will complete the park, says Elizabeth Kauchak, a ProLogis VP. “We can’t discuss the specific lease rates by the tenants, but the average rate in the area $3 triple net range.” The tenant was able to earn a 10-year tax abatement for the property.

The park is owned by the JV, and Browning does the construction for the site. The venture have developed more than five million sf of industrial space around Indianapolis for tenants such as Subaru, OH Logistics, Belkin Corp., Electrolux and J.C. Penney. “LaCrosse was considering Columbus for this site as well, but they felt Indy would do better for national distribution. There’s about 220 million sf in the Indianapolis area, and this submarket has seen several recent deals lately,” she tells GlobeSt.com. The Portland, OR-based tenant is using the center to reach the Midwest and the East Coast, she says. About 70% of the company’s domestic customers can be reached from within one day from Indianapolis.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.