CBRE facilitated the sale of 5150 Elmwood Ave. in Indianapolis, a 34,000-square-foot industrial facility in south Indianapolis to a private, high-net-worth buyer from California at a 5.8% cap rate. Cinderella, a wholesale distributor of pool supply products, leases the entire property.
CBRE Investment Properties’ Kevin Foley, Austin Wolitarsky and Anthony DeLorenzo, along with Nick Busch and Terry Busch, represented the seller in the transaction.
The property was renovated in 2023 and features a 22-foot clear height, nine dock doors, 138 auto parking spaces and outdoor storage.
The building is on 3.52 acres in Indianapolis and has direct access to Interstate-465 (I-465) and I-65, allowing the tenant, Cinderella, to execute its distribution business efficiently.
