Prologis Signs 715,000 Square Foot Build-To-Suit with Subaru of America
Prologis, Inc., the leading global owner, operator and developer of industrial real estate, today announced it has signed a new build-to-suit agreement with Subaru of America (SOA) for a 715,000 square foot distribution center.
The new facility, which will support SOA’s sales growth, will be located in the Northwest Indianapolis submarket at Prologis Park Lebanon, proximate to major freeways and the Indianapolis International Airport. The state-of-the-art, cross-dock facility will be utilized as a regional parts distribution center.
“We are pleased to support the ongoing success of Subaru,” said Jim McGill, senior vice president, Prologis. “The record low supply of large industrial facilities continues to drive build-to-suit solutions in many markets around the country, including Indianapolis. With occupancies rising for the past two years, Indianapolis remains a compelling regional market.”
Gary Palanjian, vice president of parts and service for SOA, said: “Subaru has been setting sales records for the past five years and we are structuring our operations to reflect that. This new facility allows us to better serve our retailers as well as support our growing operations at our manufacturing plant in Lafayette, Ind.”
Within the Indianapolis market, Prologis owns and manages approximately 5.1 million square feet of logistics and distribution space.
Source : Company