Denver-area distribution facility trades

DENVER, Oct. 12, 2021 – JLL Capital Markets announced today that it has closed the sale of a new, 136,915-square-foot logistics center in a last-mile location at 14353 E. Otero Ave. in the Denver-area community of Englewood, Colorado.

JLL represented the seller, BlueScope Properties Group in the off-market transaction. Vacant at the time of sale, the buyer hired a JLL team to lease the property.

Completed in 2021, the building features 32-foot clear heights, 37 exterior dock doors, three drive-in bays, ESFR fire protection, office to suit and ample parking. The state-of-the-art, single-tenant building also has a rear-loading configuration.

The building is situated on 12 acres at 14353 E. Otero Ave. in Englewood, an affluent, growing suburban community seven miles south of downtown Denver. This infill location proximate to Interstate 25 provides easy access to the surrounding population that includes more than 201,000 residents within a five-mile radius in addition to the entire Denver MSA. Additionally, a tenant will be able to reach population centers in both Boulder and Fort Collins in under 90 minutes.

Managing Directors Larry Thiel and Sean Devaney with JLL Capital Markets and Managing Director Carmon Hicks with the JLL Industrial Leasing team represented the seller.

The JLL Industrial Leasing team representing the new owner includes Hicks and Associates Chris Schultz and James McGill.

“The Denver market continues to draw significant investor interest in newly developed and well-located industrial product,” Hicks said. “We don’t see this demand slowing over the next several quarters.”

“Given the increase in delivery time, coupled with the cost increases for new construction, building shell acquisitions continue to be an active market across the U.S.,” Devaney added. “With the robust user demand, investors are very comfortable taking the leasing risk and generating stabilized yields that fit their investor profile, while getting access to new opportunities earlier in the cycle.”

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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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