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Jones Lang LaSalle represents landlord in lease transaction
Indianapolis, IN, June 13, 2013 — Polaris Laboratories LLC has completed a lease for 64,000 square feet of space that ultimately will become a new laboratory facility for the Indianapolis-based firm. The firm signed a lease at 7451 Winton Drive in Indianapolis. Jones Lang LaSalle is the exclusive leasing agent for the building that is owned by Pinchal & Co.
Polaris analyzes oil, fuel and coolants. The company currently has approximately 130 employees and expects to add an additional 25 workers at this facility alone by 2016. This new lab, expected to be open by Fall, will help Polaris improve workflow.
The space being leased by Polaris is within a 110,000-square-foot facility. The building features 20’ - 24’ minimum clear height, 40’ x 40’ column bay spacing, 6” concrete floor, 7 dock doors, 1 drive-in door and 3,600 amps/480 volt power. The building, equipped with ESFR sprinklers, is zoned I-2-S. With the Polaris lease, the building is 100 percent occupied.
In completing this expansion transaction, Polaris will qualify for a variety of economic incentives from the Indiana Economic Development Corp. Chip C. Barnes, SIOR, and Jake Sturman, both Senior Vice Presidents, Jones Lang LaSalle, represented Pinchal & Co. in the transaction. The tenant was represented by Tim O’Brien of Colliers.
About Jones Lang LaSalle Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.
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