Construction for Metro Air Business Park Buildings Two and Six, Plainfield, is underway and will be completed in the second quarter of 2018. The $27 million development is a joint venture between Indianapolis-headquartered Strategic Capital Partners, LLC and PCCP, LLC.
The 28-acre project is at the northwest corner of Ronald Reagan Parkway and Stafford Road, less than one mile from the Indianapolis International Airport, home to the second largest FedEx hub in the country. Metro Air Business Park has direct access to Interstate Highway I-70 with links to I-65, I-74, I-69 and I-465. Tenants in the Park can reach 103 million consumers who are within a 500-mile radius of the property according to Hendricks County Economic Development.
SCP first began developing Metro Air in 2006. Buildings Two and Six will add nearly 500,000 square feet of additional space to the Park which will total more than 1.2 million square feet when construction is complete. Tenants in the Park include DJ Ortho, Rolls Royce, Fiserv Solutions, Expeditors International, TRICOR Braun and Hiab USA.
“We are excited to partner with PCCP on this project and look forward to attracting additional high caliber companies and jobs to Metro Air and Plainfield,” said Richard Horn, president of SCP. “We continue to invest in this exceptional location due to its proximity to Plainfield, the airport, Ronald Reagan Parkway and I-70.”
“The Indianapolis industrial market, and in particular the Plainfield/Southwest submarket, continues to see strong leasing activity and these new state-of-the-art speculative buildings will accommodate companies that need from 30,000 to 380,000 square feet,” said John B. Cumming, Strategic Capital Partners’ senior vice president of development.
“The Metro Air development provides great exposure and opportunity for our venture,” said John Randall, PCCP managing director. “This is PCCP’s first project with Strategic Capital Partners, an experienced owner-operator. This property is 20 minutes from downtown Indianapolis and 10 minutes from the second-largest FedEx hub in the country. Metro Air is an ideal site for high capacity logistics customers.”
SCP acquired the property from the Indianapolis Airport Authority which originally purchased it as part of an aircraft noise mitigation program. “This initiative is another example of the airport’s land-use strategy doing exactly what it was intended to do -- returning land to the surrounding communities to generate economic development and local tax revenue,” said Mario Rodriguez, Indianapolis Airport Authority executive director. “That strategy was born from community feedback, and continues to drive progress that delivers ongoing public value.”