Keystone, Colliers find a gold mine in Indianapolis

West Conshohocken, Pa.-based Keystone Property Trust and St. Louis-based Colliers Turley Martin Tucker may have found a gold mine in the Heartland: Indianapolis. Keystone is building an 800,000 sq. ft. speculative distribution center at Airtech Park in Plainfield, Ind., a suburb of Indianapolis. The project is expandable to 1.3 million sq. ft. and can accommodate tenants needing 200,000 sq. ft. or more. Locally based Browning Investments Inc. is Keystone's local development partner.

The building marks Keystone/ Browning's second development at Airtech Park, a 490-acre masterplanned warehouse/distribution park. The first development was a 500,000 sq. ft. build-to-suit.

In suburban Pendleton, Ind., Colliers Turley Martin Tucker arranged the sale of a 486,888 sq. ft. industrial building at 320 Enterprise Drive on behalf of Nashville, Tenn.-based TSC LLC. Dallas-based L&B Realty Acquisitions acquired the building for an undisclosed sum.

Colliers Turley Martin Tucker also represented New York-based Metropolitan Life Insurance Co. in its lease of 281,580 sq. ft. of Indianapolis industrial space to Racine, Wis.-based S.C. Johnson & Sons. The lease is valued at $1 million.

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