Prologis Sells 600 KSF Denver Industrial Portfolio
Twelve tenants fully occupy the collection.
Prologis has sold The Collection at Airport Central, a fully leased, five-building industrial portfolio totaling 604,429 square feet in Denver’s Airport Central micro-market. Berkeley Partners acquired the collection.
CBRE arranged the sale on behalf of Prologis. The deal’s dollar value was not disclosed.
The portfolio features a mix of multi- and single-tenant configurations designed to accommodate a broad range of industrial users. It’s leased to 12 tenants across various industries, including logistics, distribution, building products, manufacturing, business services, trade show logistics, records management and e-commerce fulfillment.
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The five properties included in the sale are:
- Denver 1, at 11400 E 53rd Ave. (107,000 square feet)
- Denver 2, at 11402 E 53rd Ave. (91,892 square feet)
- Denver 3, at 11220 E 53rd Ave. (153,162 square feet)
- Denver 6, at 4600 Havana St. (149,986 square feet)
- Denver 17, at 3344 Moline St. (102,389 square feet)
All the properties are in Denver, except for Denver 17, which is located in Aurora, Colo.
CBRE Executive Vice Presidents Jeremy Ballenger and Tyler Carner, along with Senior Vice President Keiffer Garton, represented Prologis.
Airport submarket continues to soar
The Airport submarket leads its peers in several metrics so far this year, according to a second-quarter report from CBRE. To start, most of the 3.3 million square feet of industrial leasing activity in the most recent quarter was there, and Airport also recorded the highest positive net absorption, at 360,000 square feet.
Prologis has made several industrial sales across the country in recent months. In July, the company sold a 350,000-square-foot facility in Columbus, Ohio, to Boyd Watterson Asset Management for $49 million. Cardinal Health occupies that building.
And in June, Prologis sold a 737,050-square-foot industrial portfolio in Savannah, Ga. Sanders Equities acquired that collection for $75.1 million.
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