Distribution Realty Group Announces 338,520 SF Plainfield Spec Building
A joint-venture between Distribution Realty Group LLC and a private real estate fund advised by Crow Holdings Capital has announced its plans to develop a 338,520 square foot speculative industrial building at 9500 Bradford Road in Plainfield, Indiana, known as Plainfield Distribution Center.
CHICAGO, March 21, 2019 /PRNewswire-PRWeb/ -- A joint-venture between Distribution Realty Group LLC ("DRG") and a private real estate fund advised by Crow Holdings Capital ("CHC") has announced its plans to develop a 338,520 square foot speculative industrial building at 9500 Bradford Road in Plainfield, Indiana, known as Plainfield Distribution Center.
The rear-load building will feature modern Class A characteristics including 32' clear ceiling heights, LED lighting, up to 74 dock doors, 67 on-site trailer stalls and the flexibility to secure the truck court for three separate tenants. The building is designed to appeal to high-end warehouse and logistics companies seeking best-in-class space in Indianapolis.
"We are pleased to commence construction of Plainfield Distribution Center within the AllPoints Midwest business park. From this location, our customers can take advantage of the nearby interstate access, FedEx Air Cargo Hub and UPS Regional Hub. The location, coupled with the low Hendricks County real estate taxes secured through a 10-year tax abatement, will provide exceptional advantages for logistics users," said Curran Darling, DRG's Senior Vice President of Acquisitions and Asset Management in the Midwest.
The venture has hired Brian Buschuk and Steve Schwegman of JLL to market the property for lease on its behalf. Arco Murray will construct the building.
Distribution Realty Group LLC is a privately owned industrial real estate firm with offices in Chicago and Nashville. The firm has acquired and developed over 2.66 million square feet of industrial and distribution facilities since its founding in 2013. DRG has announced over 1.4 million square feet of planned development in 2019. For more information, visit http://www.distributionrealty.com.
Since 1998, Crow Holdings Capital and its predecessor have sponsored twelve private equity real estate funds. Over the past 20 years, these funds have raised approximately $8.5 billion in equity commitments, which includes approximately $1.3 billion in equity commitments for the latest value-add fund, Crow Holdings Realty Partners VIII, L.P. The CHC funds have actively acquired existing properties and development parcels, both independently and with operating partners. For more information, visit http://www.crowholdingscapital-re.com.
SOURCE Distribution Realty Group
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