Ziff Properties, Inc. today announced the acquisition of Commerce Park Place, a multi-tenant business park located in Indianapolis, IN. The 133,088 square-foot complex is comprised of 7 buildings with office and small bay warehouse space. The property was purchased for $6.5 million from Orton Development, Inc. Alex Cantu and Alex Davenport of Colliers Indianapolis facilitated the transaction as listing agents for the seller.
The property is located on the northwestern side of Indianapolis, approximately 11 miles northwest of the downtown CBD and is located less than 1 mile from Pyramid Place Shopping Center, another Ziff Properties asset. The largest tenant on site in Commerce Park Place is National Dentex Labs, a national network of dental laboratories specializing in dental restorations, who occupies an entire 21,000 sf building. The property offers space ranging from 233 sf to 20,718 sf
Chief Operating Officer and Director of Acquisitions, Christian Chamblee says, "we are delighted to expand our Indianapolis portfolio. The market offers great conditions for investment, such as reasonable cost of living and high job growth."
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