Etkin Johnson Sells Colorado Industrial Portfolio For $247.5M
Etkin Johnson Real Estate Partners has sold its 1.95M SF Colorado Industrial Portfolio to Berkeley Partners for $247.5M.
The sale marks Berkeley Partners’ first acquisition in the Colorado market.
“Bruce Etkin and David Johnson’s visionary assemblage of this portfolio nearly 30 years ago has led to phenomenal success for Etkin Johnson and its investors,” Etkin Johnson principal Derek Conn said. “Since then, we’ve remained committed to superior management and maintenance, providing exceptional workplaces for our tenants while maximizing stakeholder value. This sale allows us to return a significant profit to our investors and position Etkin Johnson for the next 30 years as we continue diversifying our portfolio.”
Etkin Johnson acquired the 19 properties, which range from 26,078 SF to 293,510 SF, between 1990 and 1998. The portfolio was 93% leased at the time of the sale.
CIP properties include:
- Spine Road Business Center, 6325 Spine Road, Boulder
- Walnut Business Center, 4725 Walnut St., Boulder
- Business Center at Westminster, 6020-6494 West 91st Ave., Westminster
- Broadway Business Center, 7000 North Broadway, Denver
- L&K Business Center, 10790 West 50th Ave., Wheat Ridge
- West I-70 Business Center, 4935 and 4941 Allison St., 8041 and 8141 West I-70 Frontage Road, Arvada
- North Washington Business Center, 6200-6300 North Washington St., Denver
- Joliet Business Center, 5175 Joliet St., Denver
- Nome Service Center, 4920-5060 Nome St., Denver
- Moncrieff Business Center, 14603 East Moncrieff Place, Aurora
- 6 & 40 Business Center, 400-525 Violet St., Golden
- Academy Downs Business Center, 6900 and 6900-6950 West Jefferson Ave., Lakewood
- Peakview Business Center, 10949 East Peakview Ave., Englewood
- Lincoln Executive Business Center, 11211 East Arapahoe Road, Centennial
- Inverness Business Center South, 355-361 Inverness Drive South, Englewood
- Centennial Business Center, 4815 List Drive, Colorado Springs
- Centennial Research Center, 5001-5025 Centennial Blvd., Colorado Springs
- Washington Place Business Center, 12421 Washington St., Thornton
- Waynoka Business Center, 2460 Waynoka Place, Colorado Springs
“This sale represented a unique opportunity to own a critical mass of infill industrial in Colorado’s growing Front Range market,” said CBRE Senior Vice President Jeremy Ballenger, who, with Jim Bolt, Tyler Carner and Mike Winn, represented Etkin Johnson. “The attractive tenant mix and well-maintained properties affords Berkeley a great path forward as one of the largest industrial owners in Colorado.”
