HSA Commercial Real Estate, based in Chicago, has successfully leased the entire building at its new Terminus at Hobbs Station development in Plainfield, Indiana. The lease for the 233,618-square-foot space was signed with Marathon Electric LLC and brings HSA Commercial’s recently completed two-building project to 45% occupancy near Indianapolis International Airport.
Marathon Electric is set to move into the space in September of 2024 after completing interior buildout. The company specializes in electric motors and generators and will primarily use the warehouse for distribution purposes.
The ownership team was represented by Jimmy Cohoat and Andrea Hopper from Colliers’ Indianapolis office. Cohoat also worked alongside Darren Ross from Colliers’ Atlanta office to represent Marathon Electric.
According to Robert Smietana, president and CEO of HSA Commercial Real Estate, securing a full-building lease demonstrates strong demand for modern warehouse spaces despite high levels of construction completion in 2023. Other major corporations located near Terminus include Amazon, FedEx , UPS , Walmart , Kohl’s , Geodis , Whirlpool , The Home Depot,Pepsi,Ryder,XPO Logistics,and Ingram .
This news article originally appeared on Connect CRE .
