July 17, 2020 Comments Off on Berkeley Bags Colorado Industrial for $49M Views: 494 Phoenix & Southwest News, Southwest News

Berkeley Bags Colorado Industrial for $49M

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Berkeley Partners acquired a multi-tenant industrial building in Louisville, CO from DPC Companies and Long Wharf Capital for $49 million. The 411,485-square-foot building is located at 333-335 Centennial Parkway.

CBRE’s Tyler Carner, Jeremy Ballenger, Jim Bolt, Jessica Ostermick and Jeremy Kroner represented the sellers.

Carner says, “333-335 Centennial Parkway is one of the largest multi-tenanted industrial assets in the submarket. It is the closest to Boulder, the closest to the highway and has the most amenities of any industrial park along the U.S. 36 corridor. This was a rare opportunity to acquire a significant industrial foothold in an amenity-rich and supply-constrained location.”

DPC and Long Wharf purchased the 24.9-acre property near Boulder in 2017, which was 50% leased at the time. In conjunction with a capital improvement campaign, CBRE brought the property to full lease-up with a total of six tenants representing a diverse mix of industries, including e-commerce, robotics, biotechnology, information technology and manufacturing.

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