Property Types Industrial
June 19, 2008
By: Thomas Peretti, Contributing Correspondent
ProLogis and Browning Investments Inc. have announced that their joint venture has signed a build-to-suit lease agreement with LaCrosse Footwear Inc.
The joint venture will develop a 380,000-square-foot distribution center for LaCrosse just outside of Indianapolis in Whitestown, Ind. The footwear company will relocate two existing distribution centers to the new facility, which will serve as a national distribution center. Sustainability will be a hallmark of the facility’s construction, which will incorporate local materials and an energy-efficient lighting system.
Whitestown lured the company to develop there with economic incentives including tax breaks in anticipation of job creation, while the Indiana Economic Development Corp. has pledged tax credits and training grants to the company. The joint venture already owned the land.
This project marks the second time the Prologis has worked with LaCrosse Footwear; the developer also built LaCrosse's corporate headquarters in Portland, Ore.
One key in the selection of the site is its central location in Indianapolis. LaCrosse executive vice president David Carlson noted in a release, "Approximately 70 percent of LaCrosse's domestic customers can be reached within one day from Indianapolis." The history between the firm and the joint venture also helped finalize the deal. "We are excited to extend the relationship we started with LaCrosse in Portland and continue it into Indianapolis," ProLogis senior vice president Doug Kiersey added in the release.
ProLogis recently announced a similar agreement to build a 600,000-square-foot distribution center for Bay Valley Foods in Rochelle, Ill., as reported by CPN on June 17.
By: Thomas Peretti, Contributing Correspondent
ProLogis and Browning Investments Inc. have announced that their joint venture has signed a build-to-suit lease agreement with LaCrosse Footwear Inc.
The joint venture will develop a 380,000-square-foot distribution center for LaCrosse just outside of Indianapolis in Whitestown, Ind. The footwear company will relocate two existing distribution centers to the new facility, which will serve as a national distribution center. Sustainability will be a hallmark of the facility’s construction, which will incorporate local materials and an energy-efficient lighting system.
Whitestown lured the company to develop there with economic incentives including tax breaks in anticipation of job creation, while the Indiana Economic Development Corp. has pledged tax credits and training grants to the company. The joint venture already owned the land.
This project marks the second time the Prologis has worked with LaCrosse Footwear; the developer also built LaCrosse's corporate headquarters in Portland, Ore.
One key in the selection of the site is its central location in Indianapolis. LaCrosse executive vice president David Carlson noted in a release, "Approximately 70 percent of LaCrosse's domestic customers can be reached within one day from Indianapolis." The history between the firm and the joint venture also helped finalize the deal. "We are excited to extend the relationship we started with LaCrosse in Portland and continue it into Indianapolis," ProLogis senior vice president Doug Kiersey added in the release.
ProLogis recently announced a similar agreement to build a 600,000-square-foot distribution center for Bay Valley Foods in Rochelle, Ill., as reported by CPN on June 17.
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