Denholtz Acquires Cornell Park, a 147,269-SF Industrial Flex Portfolio in Blue Ash, Ohio, From Sperry Equities

Denholtz, a privately held real estate investment management firm focused on industrial and flex assets, has acquired Cornell Park, a 147,269-square-foot, six-building industrial and flex campus in Blue Ash, Ohio, from Sperry Equities. Colliers announced the transaction on Sept. 3, 2026.

The deal marks the completion of a multi-year disposition of Sperry Equities' Blue Ash flex and office holdings. Sperry had previously sold a single-tenant Time Warner building within the Cornell property in 2021 and another Blue Ash asset, Corporate Woods, in 2025, making Cornell Park the final leg of that staged sell-down.

Property Overview: Cornell Park in Blue Ash

Cornell Park is located at 11240–11260 Cornell Park Drive in Blue Ash, within the Cincinnati MSA. The campus sits on 14.34 acres and is 90% occupied by 26 tenants. Notable tenants include Snap One, Medical Dynamics, Infinit Nutrition, and Fresenius Medical Care.

The portfolio accommodates a range of uses, including warehouse and distribution, business-to-business showrooms, light manufacturing, assembly, and training. The buildings feature 14-foot clear heights, 54 dock doors, 10 drive-in doors, 390 auto parking spaces, and 56 trailer parking spaces. The campus is Class B multi-tenant industrial flex product, with the park built primarily in 1981.

Cornell Park is positioned inside the I-275 ring in northeast Cincinnati, providing direct access to the region's interstate network, employment base, and nearby retail and services. The property sits just west of the I-71/I-275 interchange, one of Cincinnati's primary transportation corridors.

Colliers Team Facilitates the Transaction

Colliers | Indianapolis Capital Markets advisors Alex Cantu and Alex Davenport partnered with John Gartner, Erin Casey, and Andrew Jacob of Colliers | Cincinnati to represent the seller, Sperry Equities, in the transaction.

"Cornell Park's position just west of the I-71/I-275 interchange provides tenants direct access to two of Cincinnati's primary transportation corridors within a supply-constrained infill submarket," said Alex Davenport. "Investor demand remains strong for well-occupied light industrial and flex assets in markets where diverse tenant bases and limited new supply support durable cash flow."

Buyer Profile and Investment Strategy

Denholtz focuses on industrial and flex assets, making Cornell Park consistent with its core acquisition strategy. The campus's 90% occupancy rate across 26 tenants, combined with its infill location and multi-use configuration, reflects stabilized, multi-tenant flex product in a supply-constrained Cincinnati submarket.

The Blue Ash submarket, situated in northeast Cincinnati, is surrounded by corporate, industrial, and commercial users. Its position inside the I-275 ring and proximity to major interstate interchanges have contributed to limited new supply in the area's flex and light industrial stock.

Market Context

The transaction reflects continued investor appetite for infill flex and light industrial assets in established Midwestern submarkets. Cornell Park's diverse tenant base — spanning warehouse and distribution, light manufacturing, showroom, and assembly uses — and its proximity to two major interstate corridors underscore the characteristics that have drawn capital to similar assets across the Cincinnati region.

The sale also illustrates a broader trend of private sellers executing staged dispositions of mixed flex and office portfolios, with Cornell Park representing the conclusion of Sperry Equities' multi-transaction exit from its Blue Ash holdings.

Sources

Colliers | Sale of Cornell Park – Indianapolis News