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Avison Young inks lease for a 128,000-sf distribution center in Indianapolis
October 26, 2022
Industrial leasing in Indianapolis market remains overwhelmingly positive
Indianapolis, IN– Avison Young announced today that it has arranged a 128,000-square-foot (sf) industrial lease for a distribution center at 221 S. Franklin Road in Indianapolis, IN.
Avison Young’s Conrad Jacobs, SIOR, Vice President of Industrial Services, based in the firm’s Indianapolis office, represented the tenant, FW Logistics. The landlord, CP Franklin MT, LLC, a Delaware limited liability company, was represented by Colliers. The anticipated move-in date for FW Logistics will be November 1, 2022.
FW Logistics is a 3PL that provides flex space and trucking to help businesses in e-commerce, fulfillment, and manufacturing, to meet their logistics goals. The company has 18 temperature-controlled and ambient warehouses with more than eight million square feet nationwide, along with its trucking fleet. “It was important for FW Logistics to remain in Indianapolis because of the access to I-465 to provide services for their clients,” said Jacobs. “The Indianapolis market continues to have a low vacancy rate for class B cost-effective infill product which has been a challenge. However, we were able to find space that also allows FW Logistics room for future expansion.”
The distribution center for FW Logistics consists of two suites. Suite 400 has 128,000 sf of warehouse space and 1,000 sf of office space. Suite 650 has 38,688 sf of warehouse space and 2,210 sf of office space.
The Indianapolis industrial market showed strong market fundamentals throughout the third quarter of 2022 with record-setting low vacancy, robust net absorption, and a surge in development activity. The overall vacancy remains low hovering near 4% through the third quarter of 2022.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2022 winner of the Canada' s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.