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Sale of Park Elmwood Light Industrial Portfolio

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Colliers International has closed the sale of Park Elmwood, a four building light industrial portfolio located at 5602-5508 Elmwood Avenue in Indianapolis, Indiana. The 133,200 square-foot portfolio sits on nine and a half acres less than a mile from I-465 in the city’s south submarket.

Alex Cantu and Alex Davenport with Colliers International of Indianapolis facilitated the transaction on behalf of the seller, Dominion Realty, Inc – an Indianapolis-based real estate company specializing in multi-family and commercial properties throughout the Midwest. Hornet Investments, LLC purchased the assets.

Excellent interstate access and strong labor demographics make Park Elmwood a prime location for industrial users in Indianapolis. Originally built in 1978, the portfolio features 16’ clear height, 44 dock doors, 44 drive-in doors, shared truck courts and 33,000 SF of office space – providing flexibilty to meet tenants’ specific business needs. Park Elmwood is currently 98.2% occupied by a diverse set of 61 tenants and boasts an impressive historical occupany of 96.3% over the past 5 years.


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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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