Last-mile distribution facility in Northern Colorado trades
JLL Capital Markets closed the sale of the newly constructed, Class A industrial facility in Loveland
DENVER, August 13, 2020 – JLL Capital Markets announced today it has closed the sale of Centerra Industrial Building IV, a newly constructed, Class A, 122,806-square-foot, industrial facility with an adjacent parking lot in Centerra, a master-planned community developed by McWhinney in Loveland, Colorado.
JLL marketed the property on behalf of the seller, McWhinney. Mark IV Capital purchased the asset.
Centerra Industrial Building IV is fully leased to a global e-commerce company. The building was completed in late 2019, and features tilt-up concrete construction, extra land for ample parking, 24- to 30-foot clear ceiling heights, 12 truck doors, 50 dock doors and ESFR fire suppression.
Situated on 20.64 acres at 4541-4555 Viking Way within Centerra, the facility is part of Centerra’s master-planned community in Loveland, situated less than 50 miles directly north of Downtown Denver. The property offers direct access to Interstate 25, Colorado’s main north-south expressway through Wyoming, Colorado and New Mexico, and also provides convenient access to Interstates 270 and 76, allowing even more regional transportation access to Colorado’s growing population.
The JLL Capital Markets team was led by Managing Directors Larry Thiel and Britton Burdette, Senior Managing Directors Bo Mills and Eric Tupler, Senior Director Brock Yaffe and Associate Rachel Vogel.
“The marketing of Centerra Industrial Building IV saw several new-to-the-sector investors looking for an opportunity to place capital in an e-commerce facility,” Thiel said. “Our team was honored to advise Colorado-based McWhinney on this Class A asset in the prized Centerra Master Plan development.”
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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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 jll.com.
McWhinney is a Colorado-based real estate development and investment firm with offices in Loveland and Denver, comprising a team of talented professionals who are passionate about creating great places and building a world of possibilities. Since 1991, McWhinney has planned and developed more than 6,000 acres of innovative and sustainable master-planned communities and more than 10 million square feet of vertical commercial and mixed-use properties throughout the Rocky Mountain region and the West Coast. For more information, visit mcwhinney.com.
About Mark IV Capital
Mark IV Capital is a privately held real estate firm founded in 1974. The company acquires, invests in, develops, and manages commercial projects utilizing a long-term approach to deploy capital in markets where existing drivers will propel future value.