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Sale of Historic Downtown Office Building

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Colliers has closed the sale of The Academy Building, a beautiful, historic multi-tenant office building in the heart of downtown Indianapolis. The four-story, 30,436 square-foot building sits one block from Mass Ave at 429 E Vermont Street.

Alex Cantu and Alex Davenport with Colliers of Indianapolis facilitated the transaction on behalf of the seller, The Health Foundation of Greater Indianapolis – a private foundation that supports health-related projects and organizations that serve the community’s most vulnerable citizens. The asset was purchased by Shook Realty Group, LLC, an Indianapolis-based boutique real estate firm.

Built in 1911 as the St. Mary’s Academy, 429 E Vermont St embodies a beautifully preserved snapshot in history. The unbeatable location provides immediate access to the first rate amenties of the Mass Ave Cultural District and is a short walk to the Central Business District and Monument Circle. The site also benefits from 30 on-site surface parking spaces. The Academy Building stands 86.6% occupied by 21 tenants from a wide variety of industries and serves as the headquarters for The Health Foundation of Greater 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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