Jones Lang LaSalle Inc.

10/14/2021 | Press release | Distributed by Public on 10/14/2021 10:32

Fully leased Denver-area distribution center sells

DENVER, Oct. 14, 2021 -JLL Capital Markets announced today that it has closed the sale of a 220,000-square-foot, Class A distribution center fully leased to The Home Depot at 1953 N. Gun Club Rd. in the Denver-area suburb of Aurora, Colorado.

JLL represented the seller, EverWest Real Estate Investors. The Gun Club Road building was part of EverWest's $3.6 billion in assets under management. This includes a Colorado portfolio totaling more than 2 million square feet of office and industrial space, and 304 multi-housing units.

The mission-critical facility was constructed in 2012 as a build-to-suit for The Home Depot, which currently operates its Home Depo Pro business line out of this location, which is proximate to a large customer base. The cross-dock facility features a 32-foot clear height, 44 dock-high doors, low office buildout, ESFR fire protection, secure fencing and 15 trailer parking stalls. The building has the potential to be expanded by an additional 60,000 square feet and 24 additional trailer parking stalls on the east end of the 17.22-acre site.

1953 N. Gun Club Rd. is situated at the highly visible northeast corner of Interstate 70 and E-470, which is a prime logistics location with direct access to Denver International Airport and connectivity to the entire Denver MSA. Additionally, the facility is within Prologis Park 70, one of Denver's premiere industrial parks, and within the established I-70 East Industrial submarket, the largest and most intuitionally owned submarket in the Rocky Mountain region.

EverWest Executive Vice President and Head of Asset Management Krystal Arceneaux directed the disposition and management of the asset.

"EverWest has been fortunate to participate in this asset since its development. The building's long-term credit tenancy and location in a Class A industrial park were key to maximizing value," Arceneaux said. "JLL ran a smooth and efficient sale process in an extremely competitive market. We are very happy with their outcome and our ability to pass along this quality asset."

Senior Managing Director Trent Agnew and Managing Director Larry Thiel with JLL Capital Markets and Managing Director Carmon Hicks with the JLL Industrial Leasing team represented the seller.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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