Newmark Arranges Full-Building, 89,612-SF Industrial Lease for Associated’s New Operations Facility in Indianapolis

October 1, 2025 9:00 AM

Newmark announces the Company has arranged a full-building, 89,612-square-foot industrial lease on behalf of Associated at The Midway Building at 5770 Decatur Boulevard in Indianapolis. The lease represents a nearly 60,000-square-foot expansion from Associated’s previous space in the same corridor.

Newmark Senior Managing Director Corey Chase represented the tenant in the transaction.

“We’re proud to have supported long-time client Associated in securing a facility that fully meets its expansion and operational needs,” said Chase. “Leasing the entire building underscores the company’s strong trajectory and commitment to serving its customers efficiently from a larger, well-positioned footprint.”

The new facility, owned by Holladay Properties, offers key features including 5,425 square feet of office space, 24’ clear heights, 21 dock doors with levelers, two drive-in doors and over 250 parking spaces. Delivered in 2004, The Midway Building provides strategic access to major interstates I-70, I-465 and I-69, and is ideally located near FedEx and UPS distribution hubs.

According to Newmark Research, industrial leasing activity in sub-100,000-square-foot buildings accounted for 33% of all U.S. leasing activity in Q2 2025 – the greatest share of total activity for the quarter. This segment, which includes small-bay and single-tenant facilities, currently reflects the lowest vacancy rates in the market – particularly among assets built before 2000.

Brian Seitz, SIOR, Griffin Seitz and Brian Buschuk of JLL represented the landlord.

Founded in 1960, Associated helps customers optimize how they move, store and manage goods through innovative solutions that streamline storage, order fulfillment and supply chain operations. As a trusted partner in material handling, Associated provides leading edge engineering, fleet management and labor optimization services – supported by comprehensive equipment sales, service, rentals and parts. Their commitment to innovation and customer success has earned them a reputation as one of the industry’s top providers. Associated is a subsidiary of The Raymond Corporation, a Toyota Industries company.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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