Chicago Player Makes Industrial Buy In Denver
Chicago-based LaSalle Investment Management has acquired an industrial complex in Denver near Highlands Ranch.
Called Parc Santa Fe, it sold for $58M, according to Douglas County public records. Los-Angeles-based Mesa West Capital provided $43.3M for the acquisition financing.
The complex was completed in June 2019 by Dallas-based Jackson Shaw, which sold it along with LaPour Partners and Stream Realty Partners. The 22-acre property is composed of three Class-A industrial buildings that range in size from 85,900 SF to 169,950 SF. Parc Santa Fe is 62% leased.
Part of the loan provided by Mesa West Capital will be used to fund tenant improvements and brokerage commissions to finish leasing and stabilizing the property.
“As the newest development in Denver’s Southwestern submarket in two decades, the property boasts a strategic advantage with its configuration and amenities over the other dated properties in the competitive set,” said Matthew Snyder, Mesa West director.
Per its website, this is Mesa West Capital’s most recent acquisition financing in Denver since 2016. That year, it financed the acquisition of a 17-story office building at 4582 South Ulster St. in the Denver Tech Center.
CORRECTION, JAN. 30, 8:14 A.M. CT: A previous version of the story stated the acquisition price was $43.3M. It has been corrected to $58M.
