- For sale
Park Elmwood consists of a four building 133,200 SF light industrial portfolio located immediately off of I-465 in the Indianapolis south industrial market. The 98.2% occupied Property is leased to a diverse set of tenants with an average occupancy in the portfolio of over 8 years. The property was built in 1978, is block and steel construction, includes 16’ clear height throughout all four buildings and has a combination of 44 drive-in and dock doors throughout the shared truck courts, offering tenants flexibility depending on their specific business needs.
The Property is located directly off Emerson Ave and only 2 minutes away from the I-465 interchange, providing the Property’s tenants immediate access to the entire Indianapolis MSA as well as the eight (8) intersecting major US interstates. The Property benefits from its Southeast location providing access to the strongest supporting labor force in the Indianapolis MSA. The Property provides investors the opportunity to benefit from the consistent yield generated by a property that has been 96.3% leased on average over the past five years while increasing both the yield and investment value through raising rates in a property with an average rental rate 10% below market.