Colliers facilitated the sale of Park Elmwood, a four-building shallow bay industrial portfolio totaling 133,200 square feet in Indianapolis’ south industrial submarket.
Colliers Industrial Capital Markets advisors Alex Cantu and Alex Davenport, together with Jason Speckman and Tyler Wilson of the firm’s Indianapolis industrial leasing team, represented the seller, Hornet Investors, in the transaction. The buyer, Denholtz Properties, completed its first acquisition in the Indianapolis market with the purchase.
Park Elmwood is located just off Interstate 465 along Emerson Avenue, providing efficient access to the greater Indianapolis MSA and connectivity to multiple major interstate corridors. The portfolio features 16-foot clear heights and highly demised suites designed to accommodate smaller industrial users. The property offers a rare shallow bay configuration with 47 drive-in doors and 44 dock-high doors, and an average suite size of approximately 1,600 square feet. At the time of sale, Park Elmwood was 92% leased to 57 tenants, reflecting strong historical occupancy and durable tenant demand.
The Indianapolis multi-tenant industrial market continues to experience limited new supply, historically low vacancy, and sustained demand, particularly within highly functional, infill shallow bay product.
