Colliers International has closed the sale of Commerce Park located at 8650-8857 Commerce Park Place in Indianapolis, IN. The seven-building portfolio totals 133,749 sf and is located off 86th Street near the Park 100 Industrial Park.
Alex Cantu and Alex Davenport with Colliers International of Indianapolis facilitated the transaction on behalf of the seller, Orton Development, Inc. Ziff Properties, Inc., a commercial real estate investment firm based out of South Carolina, purchased the asset.
Located in the northwest submarket of Indianapolis, the Commerce Park Portfolio offers near immediate access to the city's I-465 loop via Michigan Road to the east and I-65 via 86th Street to the west. The portfolio is home to a diverse set of industry and service groups including healthcare, construction and professional services.
"We are excited about our second acquisition in the Indianapolis market. Commerce Park meets the core principles of our investment strategy, which among other requirements, calls for highly demised small bay warehouse acquisitions in markets of strong job growth." said Christian Chamblee, Director of Acquisitions at Ziff Properties, Inc.
Ziff Properties owns approximately $300 million of community and neighborhood shopping centers, self-storage facilities and office/flex assets throughout the southeastern U.S. and continues to aggressively acquire new properties.