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Sale of Core Industrial Property in Whitestown

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Colliers International has closed the sale of Whitestown Business Park Building 2, a 636,742-square-foot, state-of-the-art distribution center located 20 miles northwest of Indianapolis at 3632 Perry Boulevard in Whitestown, Indiana. The newly developed facility, constructed in 2019, is 100% leased to PUMA North America, Inc.

The Colliers Midwest Industrial Sales Team, led by Alex Cantu in the Indianapolis office and Jeff Devine and Steven Disse in the Chicago office, facilitated the transaction on behalf of PUMA North America. The asset was purchased by an affiliate of Walton Street Capital, a Chicago-based real estate private equity firm.

The property serves as the largest of Puma’s two national distribution hubs—handling 75% of its growing e-commerce business as well as 100% of its retail and teamsport business in North America. Fred Regnery, Andrea Hopper and Jimmy Cohoat of Colliers International assisted Puma in establishing the Whitestown distribution center, where Puma took occupancy in June of this year. The site also includes an approximately 1M square-foot parcel of adjacent land with expansion possibilities to meet Puma’s long-term needs. 

Josh Zemon with Walton Street commented on the recent acquisition, “We are thrilled to complete our first acquisition with the Walton Street core fund in the Midwest through the purchase of Whitestown Business Park Building 2 in Indianapolis, Indiana. This state-of-the-art facility and high-quality occupier in Puma typify the evolution of distribution buildings that meet today’s consumer demands.  To acquire this type of facility in the burgeoning distribution market of Indianapolis is a great result for the team.” 

The purchase represents Walton Street’s first industrial acquisition in Indianapolis.


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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

Senior 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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