(INDIANAPOLIS) – Hines, the international real estate firm, in partnership with Cresset Real Estate Partners, announced that it has closed on the site for the second phase of Whiteland 65 Logistics Center, a 700,000-square-foot industrial project located on I-65 in Whiteland, Indiana. The first phase will deliver roughly 1.1 million square feet in the summer of 2022 and the firm has selected Cushman and Wakefield to handle marketing and leasing efforts for the site.
The project will feature cross-dock configuration, 40-foot clear height, above-market parking ratios, direct I-65 frontage and generous outdoor amenity areas.
“The South submarket’s strong labor market continues to attract users as we increase our presence by building on one of the last available sites in Whiteland,” said Will Renner, managing director at Hines.
Located off I-65 and Whiteland Road, Whiteland 65 Logistics Center is less than 30 miles from Indianapolis International Airport and is immediately serviced by a four-way interchange, creating ideal access to metro Indianapolis as well as the Southeast via I-65 and the Eastern Seaboard via I-70.
“Cresset Real Estate Partners is once again pleased to partner with Hines to develop the second phase of the Whiteland 65 Logistics Center. This state-of-the-art facility will be very attractive to tenants desiring a logistics center tailored to their needs,” said Michael Miller, co-founder and executive managing director of Cresset Real Estate Partners.
To date, Hines has invested nearly $4.1 billion1 in the industrial and logistics sector and completed 60 acquisitions2 totaling 43,870,788 square feet. Hines has an additional 36 development projects, ranging from in-design to completed, currently held in our portfolio representing an additional 25,403,260 square feet.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 240 cities in 27 countries. Hines oversees a portfolio of assets under management valued at approximately $160.9 billion¹, including $81.7 billion in assets under management for which Hines serves as investment manager, and $79.2 billion representing more than 172.9 million square feet of assets for which Hines provides third-party property-level services. Historically, Hines has developed, redeveloped or acquired approximately 1,450 properties, totaling over 485 million square feet. The firm has more than 180 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information. ¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2020.
About Cresset Real Estate Partners
Cresset Real Estate Partners leverages decades of relationships with industry-leading developers to secure off-market opportunities with advantageous structures. Our flexibility and speed allow us to capture desirable investments. Cresset Real Estate Partners currently oversees a portfolio of more than $3 billion. To learn more, visit www.cressetpartners.com.
Cresset refers to Cresset Capital Management and all of its subsidiaries and affiliates. Cresset Asset Management, LLC provides investment advisory, family office, and other services to individuals, families, and institutional clients. Cresset Partners, LLC provides investment advisory services strictly to investment vehicles investing in private equity, real estate and other investment opportunities. Cresset Asset Management, LLC, and Cresset Partners, LLC are SEC registered investment advisors.