Red Bank-based investment management firm Denholtz has officially planted its flag in the Midwest. On Monday the firm announced it acquired Park Elmwood Industrial Park, a four-building industrial portfolio in Indianapolis, marking its first-ever entry into the Indiana real estate market.
The acquisition of the 133,200-square-foot shallow-bay asset at 5602–5508 Elmwood Ave. is the latest move in Denholtz’s aggressive national expansion.
Strategically located in the Indianapolis southeast submarket, Park Elmwood offers high-functionality for small-to-mid-sized industrial users. Key features of the 9.54-acre site include:
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Structure: Four block-construction buildings totaling 133,200 square feet.
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Loading capabilities: A total of 91 loading doors (44 docks and 47 drive-ins).
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Versatility: Unit sizes range from 1,200 to 3,000 square feet, catering to “infill” demand.
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Connectivity: Immediate access to I-465 and proximity to eight major U.S. interstates, located just 15 miles from Indianapolis International Airport.
The Indianapolis industrial market has remained resilient due to its central “Crossroads of America” location and a deep labor pool. According to Denholtz leadership, the acquisition was driven by the property’s strong fundamentals and significant upside potential.
“Park Elmwood aligns well with our strategy of acquiring well-located, multi-tenant industrial assets with strong value-add opportunity,” Paul Paschal, director of acquisitions at Denholtz said. “Assets like this allow us to deploy capital in a disciplined way while generating stable income and long-term value.”
Under the leadership of CEO Katie Kurtz, who took the helm in late 2024, Denholtz has rapidly diversified its $2 billion portfolio. While the firm remains a major player in New Jersey—headquartered at The Rail at Red Bank Station—it has recently closed significant deals in North Carolina, Texas, and now Indiana.
The seller was represented by Alex Davenport and Alex Cantu of Colliers International, while Denholtz represented itself in the transaction.
