JLL Capital Markets lead the sale efforts for the two, light-industrial assets
News release
22 February 2024
Commerce Square trades in Aurora, Colorado
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DENVER, Feb. 22, 2024 – JLL Capital Markets announced today that it arranged the sale of Commerce Square, two light-industrial assets totalling 145,242 square feet in Aurora, Colorado.
JLL represented the seller, Graham Street Realty, and procured the buyer, Midtown National Group.
Situated on 8.94 acres, just minutes from the I-70 East and Peoria interchange, Commerce Square is equipped with rear-loading configurations, 18-foot clear heights, 38 docks, 11 drive-in doors, 265 parking spaces and is occupied by 12 diverse tenants. The two warehouses are located at 3250 Quentin St. and 3251 Revere St., less than 10 miles from downtown Denver.
The Denver (MSA) has become one of the nation's most active industrial markets over the past decade, due to the robust demand driven by retail sales, employment and industrial production in the metro area and greater Colorado region. Denver has consistently outperformed the United States in lease rates, which have been steadily increasing year after year.
The JLL Capital Markets team representing the seller was led by Managing Directors Larry Thiel and Ryan Sitov and Director Rob Key.
The JLL Leasing team included Senior Managing Director, Carmon Hicks, and Managing Director, Jason White.
“Commerce Square is a unique asset in the I-70 East submarket due to its desirable front park rear load configuration and small bay suite sizes. The property garnered interest from a wide range of capital because of near-term upside in rents and an attractive assumable loan,” said Key.
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.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.