Colliers International has closed the sale of 1908 & 1950 Stout Field W Drive, a 166,119-square foot, two building portfolio in the heart of the Stout Field Industrial Park.
Located in the southwest submarket of Indianapolis ― the most active industrial submarket in the city ― the portfolio sits less than a mile from Interstate 70, providing direct access to the interstate system as well as Indianapolis International Airport. The asset is further enhanced through rail connectivity via CSX Class 1 railroad.
The fully leased buildings are home to Progressive Logistics and Micronutrients.
Alex Cantu, Executive Vice President and Alex Davenport, Associate, with Colliers International | Indianapolis, facilitated the transaction on behalf of the seller, Progressive Logistics. The portfolio was purchased by The O’Donnell Group, Inc., a real estate developer based in Southern California for $6.65 million or $40.08 per square foot.
This is O’Donnell Group Inc’s first acquisition in the Indianapolis market. The firm is a significant developer and owner in California and has developed or acquired over 23,000,000 square feet of industrial and office business parks in California, Washington, and Alaska.