Leasing Picks Up in Indy; HSA Starts Spec

CHICAGO, INDIANAPOLIS—In the past few years, surging demand for distribution space in Indianapolis led many developers to launch huge speculative buildings there, so many that some feared the market had an oversupply. But the big leases have returned, and it looks like the market is also generating a healthy level of demand from smaller users.

In fact, the Chicago-based firm HSA Commercial Real Estate has just leased the last remaining space at Gateway Industrial III, its 220,000 square foot speculative distribution center at 1025 S. Columbia Rd. in suburban Plainfield‘s Gateway Business Park. Furthermore, company officials are confident enough in the leasing climate to develop this summer another speculative warehouse at Gateway, its fifth and final project in the 40-acre park.