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Sale of Mt Comfort Logistics Center II

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Colliers has closed on the sale of Mt Comfort Logistics Center II, a 505,872 SF, state-of-the-art, modern bulk distribution facility located at 4268 W CR 300 N in Greenfield, Indiana. Situated in the heart of the burgeoning east Indianapolis submarket of Mount Comfort, Building II is part of a 318-acre master planned, Class A industrial and logistics park. CBRE Global Investors purchased the asset.

The Sales Team, led by Alex Cantu, Jeff Devine, Steven Disse, Mike Lubbers and Alex Davenport, facilitated the transaction on behalf of Ambrose Property Group, a logistics and e-commerce real estate developer and asset manager based in Indianapolis, Indiana.

Progressive Logistics, a multifaceted third party logistics company, will occupy 100% of the facility on a new 15-year lease. The certified food grade distribution facility features fully conditioned space, 36’ clear heights, 50 docks and above market auto and trailer parking.

“The sale of Mt Comfort Logistics Center II represents another successful transaction of a midwest modern bulk building, highlighting the bredth and depth of investors focused on top of market locations. The Ambrose Property Group team delivered a wonderful building that fit perfectly for the tenant and the end investors core fund requriements. We couldn’t be more pleased with the execution.”

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Related Experts

Alex Cantu

Vice President

Indianapolis

As Executive Vice President and 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. 

Over the past 24 months, the Indianapolis Capital Markets Team has executed nearly $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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Jeff Devine

Principal

Chicago - Rosemont

I serve as Executive Managing Director for Capital Markets and a Principal owner of the Colliers | Chicago office, focusing on investment sales of Class A and B industrial properties in Chicago and the greater Midwestern US, ranging in value from $5 to $500 million. I joined Colliers in 1995 as an analyst for the firm’s Development Group and have ascended to be a Principal of the Chicago office of Colliers International.

I  work with Steve Disse to service institutional real estate investors in Chicago and surrounding Midwest cities. Together, we are consistently recognized as the top industrial capital markets professionals in Chicago. Our team consistently holds the majority market share of Chicago area industrial investment sales and has closed over $1.5 billion in sales over the last 24 months. For the past two years (2019&2020) Steve and I received the NAIOP Industrial Investment Transaction of the Year Award for large industrial portfolios sold in the Chicago market on behalf of Conor Commercial and Centerpoint Properties.  

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Steven Disse

Principal

Chicago - Rosemont

I have been with Colliers International for 29 years and serve as a principal of the Chicago office. I focus on investment sales of institutional quality industrial and office properties in Chicago and the Midwest ranging in value from $5 million to $300 million. I team with Jeff Devine to form Chicago’s most active industrial investment sales team. Our team consistently holds a 50 to 60 percent market share of Chicago area industrial investment sales and has closed over $1.5 billion in sales over the last 24 months. This past year, Steve and I received the 2019 NAIOP Industrial Investment Transaction of the Year Award for brokering the sale of the Fountain Square Commerce Center in Bolingbrook, IL.t.

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Mike Lubbers

Senior Vice President

Indianapolis

Mike Lubbers specializes in Industrial Advisory Services focusing on Buyer / Seller or Tenant / Landlord representation, ground sales and build-to-suit transactions. He assists in the relocation of national clients throughout North America — and has a strong concentration in tenant representation, securing over 6 MSF of space for tenants across the U.S. 

Mike is a 35-year seasoned professional in the industry and has negotiated transactions totaling more than 44 MSF of Industrial improved properties and over 1,700 acres of Land sales. Transaction volume exceeds $1,000,000,000 with his largest single transaction valued at over $44 million (10-year lease transaction with a third-party logistics company for a 1,200,420-square foot distribution facility). 

In 2017 he was inducted into the Colliers Everest Club, recognizing the top 10% of brokers across the Americas region, based on sales volume. He also received two of Colliers Indianapolis top production awards – Top Producer & Largest Transaction, which was a $22,000,000 value, 315,000 SF, 12-year lease transaction.

Prior to joining Colliers, Mike was a Principal at NAI Olympia Partners, where he earned numerous sales production and leadership awards.  Before NAI Olympia, he was a Vice President with CB Commercial.
 

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Alex Davenport

Senior Director

Indianapolis

Alex Davenport specializes in capital markets advisory services and the acquisition and disposition of investment properties, with a particular focus on the private capital sector. On the firm’s Capital Markets team, Alex controls property and financial analysis, overall transaction evaluation and leads the preparation of marketing materials. Since joining in 2016, he has been involved in executing over $500 million in transaction volume encompassing over 8 million square feet of industrial, office and retail product throughout the Midwest. 

Prior to joining Colliers, Alex worked as a Business Development Analyst for LoadDelivered Logistics, a logistics service provider out of Chicago, IL. There he was project lead to conduct research and develop an analytical profile system to improve lead generation and streamline customer acquisition. 

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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