News release

Boulder-area industrial facility financed for $31.85M

JLL Capital Markets arranged the acquisition loan for Berkeley Partners  

September 15, 2020

DENVER, September 15, 2020 – JLL Capital Markets announced today that it has arranged $31.85 million in acquisition financing for a two-building, multi-tenant, fully triple-net leased industrial complex totaling 411,485 square feet in the Boulder-area community of Louisville, Colorado.

JLL worked on behalf of the borrower, Berkeley Partners, to place the seven-year, fixed-rate, non-recourse loan with Nuveen Real Estate.

The property is at 333-335 Centennial Pkwy. in Louisville, which is between Boulder and Denver, and has direct access to Highway 36. This infill location is at the last exit prior to downtown Boulder and is along the Northwest corridor, which is supply constrained due to the lack of available land for development, restrictive growth policies and shrinking industrial inventory, as properties continue to be converted to creative office space or demolished. At the time of sale, there were not any land sites zoned for industrial use available for sale on the corridor.

The tenant mix comprises light manufacturing, distribution and R&D users that heavily invested in their space. Completed in 1995, the facility was renovated in 2019 with new façade and entryway, improved docks and drive-in loading, landscaping, signage, skylights, modern finishes, parking improvements, a steel-framed canopy and aluminum storefronts. Additional features include seven dock-high doors, one drive-in door, 28-foot clear height and trailer parking.

The JLL Capital Markets debt placement team representing the borrower was led by Executive Managing Director Kevin MacKenzie, Managing Director Jeff Sause, Senior Director Leon McBroom and Director Spencer Richley.

“Industrial continues to be an especially sought-after product type for all capital sources, and we had numerous lenders interested in the deal,” McBroom said. “The lack of supply around good-quality industrial for lenders to finance created an extremely deep and competitive field, allowing us to compress pricing and push on proceeds. In this COVID environment, we were very pleased with the market’s response to this financing request.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Berkeley Partners

Founded in 2005, Berkeley Partners has formed a series of funds focused on the light industrial sector. Berkeley Partners includes a seasoned team of professionals with diversified experience in fund management, real estate investment, and property and leasing management. The company and its affiliated entities make-up a vertically integrated real estate operating company, which has demonstrated an ability to manage investments, operations and dispositions through market cycles. Berkeley Partners currently has assets under management totaling over $750 million through investment funds and separate accounts in value-add and core-plus strategies. The company’s investors include large pension plans, insurance companies, endowments, foundations and family offices. Visit to learn more.