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Sale of 1.12 MSF Light Industrial Portfolio

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12-park light industrial portfolio trades in Indianapolis

Colliers has closed the sale of a 1,122,817 square-foot light industrial portfolio comprised of 34 infill industrial assets in the Indianapolis, Indiana MSA. The assets include twelve industrial parks located in Indianapolis, Fishers, and Plainfield. The portfolio is nearly 96% occupied and home to over 230 tenants from a diverse set of industries. The highly sought after transaction represents the largest light industrial portfolio trade in Indianapolis over the past five years.

Alex Davenport and Alex Cantu of the Colliers Midwest Capital Markets team facilitated the transaction on behalf of Mann Properties, an Indianapolis-based real estate firm that has been developing commercial and residential projects throughout Central Indiana and North Carolina. The portfolio was purchased by a venture of Cardinal Industrial and Stos Partners, two privately held commercial real estate companies based in California with industrial warehouse assets located throughout the United States, and Long Wharf Capital, a real estate private equity firm based in Boston, Massachusetts.

Colliers will assume Leasing and Property Management services of the full Cardinal Industrial portfolio. The leasing team leads are Jason Speckman SIOR and Tyler Wilson SIOR assisted by Billy Powers and Jeorge Manley. The Real Estate Management Services (REMS) team consists of Craig Cleveland – Senior Property Manager, Sally Lewis – Property Manager, and Rick Ryan – Lead Engineer.



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Alex Cantu

Executive Vice President

Indianapolis

As leader of the Indianapolis Capital Markets and Investment team, Alex specializes in the disposition and acquisition of single-user and multi-tenant investment properties on behalf of institutional and private capital clients. Alex has been involved with transactions throughout the Midwest with a primary focus on the Indianapolis market. He has exclusively represented sellers of office, retail, and industrial product, as well as advised select investors on acquisitions. With his thorough knowledge of the investment markets and extensive background in asset and market analysis, Alex provides disposition expertise in pricing, market penetration, and targeting active buyers. 

Alex is a 4-time recipient within the coveted Colliers Everest Club – recognizing the top 10% of brokers, production-wise, across the entire U.S. 

Over the past 24 months, the Indianapolis Capital Markets Team has executed on $1 Billion in transactional volume.  Previously, Alex was part of the office landlord advisory group for NAI Olympia Partners. His extensive work with landlords and prospective tenants has given him an in-depth understanding of marketing, leasing, and driving value for his clients’ investments.
 

Team Website:  IndyCapitalMarkets.com

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Alex Davenport

Vice President

Indianapolis

Alex Davenport specializes in capital markets advisory services and the acquisition and disposition of investment properties. On the firm’s Capital Markets team, Alex works with Alex Cantu to service private and institutional real estate investors in Indianapolis and the greater Midwest region. Since joining in 2016, he has been involved in executing over $1.50 billion in transaction volume encompassing over 20 million square feet of industrial, office and retail product throughout the Midwest. 

Alex is a graduate of Indiana University and holds a bachelor’s degree in Economics with a minor in Entrepreneurship & Small Business Management from IU’s Kelley School of Business.  At IU, he was active in his fraternity, Sigma Chi, coordinating special events and philanthropic activities – driving these events gave Alex beneficial insight and an appreciation of the critical start-to-finish details required for a successful outcome.

Alex lives a very active lifestyle – weightlifting, running, cooking and traveling.

Team Website:  IndyCapitalMarkets.com

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Jason Speckman

Executive Vice President

Indianapolis

Jason Speckman is a member of the high-profile Indy Industrial Advisors Team — of Jimmy Cohoat SIOR, Andrea Hopper SIOR, Jason Speckman SIOR, and Tyler Wilson SIOR.  The Team specializes in industrial leasing representation and acquisition / disposition services for businesses and property owners throughout Indiana with a specific focus on the Indianapolis MSA.  Since 2011, he has closed over 1,600 transactions exceeding $900 million in value.  For 9 years, Jason and his team have earned the firm’s “Most Transactions” award and Jason has twice earned its “Top Associate Producer” award.

Jason’s key strengths are his ability to thoroughly assess needs and implement plans to exceed clients’ goals. He possesses exceptional communication, collaboration and analytical skills, which have proven successful toward building and sustaining client relationships; collaborating on marketing strategies for key assignments; consulting with and advising private and institutional clients; managing long-term transactions; and representing institutional real estate portfolios.

He is actively engaged in various community efforts.  Jason currently serves on the Board of Directors for Leadership Hendricks County.  He is Past President of the organization and still sits on its Resource Development Committee.  Jason has served as Admission Chair for SIOR,  Indiana/Kentucky Chapter and is also a past Board Member of NAIOP  Indiana Chapter.

Team website:  https://www.indyindustrialadvisors.com/

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Tyler Wilson

Senior Vice President

Indianapolis

Tyler Wilson is a member of the high-profile Indy Industrial Advisors Team — of Jimmy Cohoat SIOR, Andrea Hopper SIOR, Jason Speckman SIOR, and Tyler Wilson SIOR.  The Team specializes in industrial leasing representation and acquisition / disposition services for businesses and property owners throughout Indiana with a specific focus on the Indianapolis MSA.  
Since 2012, Tyler has closed over 1,600 transactions exceeding $900 million in value. For 9 years, Tyler and his team have earned the firm’s “Most Transactions” award.

Before advancing into brokerage, Tyler led the firm’s market research department, creating the foundation for what has become his key service differentiator ― a commanding market knowledge. Tyler’s ability to thoroughly access his clients’ needs and implement strategies to exceed their overall objectives has proven successful toward building and sustaining long-term relationships. Clients value and appreciate his 24/7 availability, attention to detail, collaborative effort, and diligent approach toward every assignment.

When not advising clients or closing deals, Tyler devotes his time to his wife and two children. His family enjoys taking vacations, being outdoors, and anything that involves being on the water. 
 

Team website:  https://www.indyindustrialadvisors.com/

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Billy Powers

Director

Indianapolis

Billy Powers specializes in industrial advisory with a focus on larger distribution facilities.  He works with owners and landlords to lease and sell their real estate assets.

Prior to joining Colliers, Billy has had extensive experience in servicing high value clients in the supply chain and distribution industries. His responsibilities ranged from design solutions to multi-phase project installations and implementations. Billy has worked with hundreds of clients to develop custom solutions totaling over $100 million in material handling equipment and packaging supplies. This experience provided a front-row seat understanding of the supply chain users and their facility challenges & requirements. 

Billy is a graduate of Wabash College with a major in Economics. At Wabash, he was very active in both campus organizations and competitive sports, including the Mens Basketball and Volleyball Teams. He and his wife and their three children enjoy experiencing new adventures.

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Jeorge Manley

Director

Indianapolis

Jeorge Manley specializes in industrial advisory services providing expertise to assist tenants and buyers in strategically finding the right space for their needs.  He also works with owners and landlords to lease and sell their real estate assets.

Prior to joining Colliers, Jeorge has had extensive experience in servicing high value clients in the transportation and logistics industry. While at Hogan Transportation Companies, he gained valuable experience in business development and asset management. This included the marketing and leasing of heavy duty, class 7 & 8 trucks to distributors and manufacturers in both the greater Indianapolis, IN and Cincinnati, OH markets. While there, he earned the company’s Distinguished Sales Achievement Award. By providing impeccable service to my clients, as well as innovative solutions, he earned incredible customer loyalty.

Jeorge is a graduate of the University of Southern Indiana with a major in Finance from the Romain College of Business in Evansville, IN. He also attended Indiana University in Bloomington, IN where he studied business for three years in the Kelley School of Business.

His passions include travel, golf, live music, and sporting events, particularly Indiana University basketball.

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