HSA Kicks Off 500 KSF Indianapolis Project

Rendering of Terminus at Hobbs Station. Image by Curran Architecture, courtesy of HSA Commercial Real Estate

HSA Commercial Real Estate has commenced construction on Terminus at Hobbs Station, a two-building speculative development totaling 497,540 square feet, in Plainfield, Ind. The industrial project is expected to be delivered in the fourth quarter of this year.

The development team includes Curran Architecture as the appointed architect, Kimley-Horn as the civil engineer and Meridian Design Build serving as general contractor. Colliers’ Senior Vice Presidents Jimmy Cohoat and Andrea Hopper are the exclusive leasing agents.

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The two cross-dock properties will rise at 9524 and 9532 Station Blvd. and will include 32-foot clear heights, three drive-in doors, loading bays with 60-foot heights, ESFR sprinkler systems, LED lighting and 50-foot by 50-foot column spacing. The 233,618-square-foot Building I will feature 163 parking spots that can be expanded to 187, 36 dock doors and 48 trailer parking spots, while the 263,922-square-foot Building II will include 187 parking spots with expansion up to 219, 30 trailer parking spots and 31 dock doors.

Terminus at Hobbs Station will be situated on a 37-acre lot, close to Highway 40 and Interstate 70, 8.8 miles from Indianapolis International Airport and from FedEx’s second-largest distribution center in U.S., and within 19 miles of downtown Indianapolis. Neighbors include UPS, Amazon, XPO Logistics, The Home Depot and others.

Indianapolis’ attractive industrial fundamentals

Plainfield is maintaining its strong position for industrial development, showing a 5 percent vacancy rate at the end of 2023’s first quarter, Robert Smietana, the company’s vice chairman & CEO, said in prepared remarks. High-profile industrial users are looking to move in proximity of easily accessible transportation networks and HSA aims to meet this demand with its current project, he added.

Over its 15 years of activity in the local market, HSA has delivered roughly 1.2 million square feet of industrial space. The company reached full lease-up at the seven-building Gateway Business Park, also in Plainfield. HSA has also recently broken ground on its first speculative project in Florida—the 482,000-square-foot Highland Commerce Center, which is expected to come online by the end of the year.