May 23, 2018
Hub 25, a recently completed Class A multi-tenant industrial campus in Denver, has sold for $74 million. Institutional investors advised by J.P. Morgan Asset Management purchased the property from Westfield Company.
The site is the former home of Mapleton High School, which sat vacant for 20 years. Westfield purchased the land in 2016, and developed the four-building, 421,499-square-foot industrial park. Hub 25 is 95% leased to eight tenants, including BSI Designs, Mountain High Appliance and Rep Fitness.
CBRE’s Tyler Carner and Jeremy Ballenger represented Westfield in the leasing and sale of Hub 25.
Carner says, “What Westfield accomplished at Hub 25 is an amazing feat. They took on a complicated piece of land that needed significant improvements, recognized a need in the market for small-bay, light industrial space,and delivered an outstanding product that piqued the interest of top-tier capital.”
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