Subaru leases gigantic industrial space

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ProLogis today announced it has leased 282,000 square feet of distribution space in suburban Indianapolis to Subaru of America Inc. The value of the transaction was not disclosed. The recently completed distribution facility, totaling 501,000 square feet, is located along Interstate 65 in the city of Whitestown. Subaru plans to use the facility as a regional distribution center for its automotive parts and accessories, serving Subaru dealerships and other automotive retailers throughout the Midwest. The facility leased by Subaru is owned through a joint venture between ProLogis and Browning Investments, an Indianapolis-based developer of commercial real estate. The 501,000-square-foot building is expandable by an additional 500,000 square feet. ProLogis, which operates across North America, Europe and Asia, is one of the largest providers of industrial space in Indianapolis, with more than 11.2 million square feet owned, managed or under development. ...