An asset management company that purchased a 10-property portfolio across three states has acquired five Denver industrial properties for $153 million.
Principal Asset Management acquired four other properties in Houston and one in New Jersey. The Denver Business Journal reports the company paid $153 million for the five Denver industrial assets. The parks are 97% occupied.
The properties in Denver include:
• A 336,800-square-foot industrial property at 11700 E. 47th Ave., built in 2007
• A 336,481-square-foot building at 11511 E. 45th Ave., built in 2008
• A 90,352-square-foot building at 11775 E. 45th Ave., built in 2008
• A 255,767-square-foot building at 11351 E. 45th Ave., built in 2014
• A 163,028-square-foot building at 11198 E. 45th Ave., built in 2015
The average building size of the portfolio is 210,000 square feet.
The JLL Capital Markets Investment Sales and Advisory team was led by Trent Agnew and John Huguengard.
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