Partnership Sells 1.3 MSF Infill Industrial Portfolio in Metro Indianapolis

INDIANAPOLIS — Stos Partners, Cardinal Industrial and Long Wharf Capital have sold the Hoosier Infill Industrial Portfolio to an institutional investor. The portfolio comprises 13 industrial parks totaling 1.3 million square feet across 38 buildings in metro Indianapolis. At the time of sale, the assets were approximately 97 percent leased to more than 250 tenants. The firms assembled the portfolio through two off-market transactions. Both were purchased from the assets’ original developer. During the 3.5-year hold period, the partnership executed a value-add strategy that included nearly $6 million in capital improvements, operational modernization and the conversion of leases to triple-net structures. Alex Cantu and Alex Davenport of Colliers represented the sellers.