Adler Real Estate Partners recently acquired a 204,981-square-foot light industrial property in Denver for $37.7 million. The asset was sold by BKM Capital Partners and the buyer secured $21 million in acquisition financing through JLL Capital Markets.
The property, known as Valley Business Center, consists of five buildings with an average suite size of 10,249 square feet. Built in 1984, it offers various loading capabilities and features suite configurations with clear heights ranging from 16 to 20 feet. Additionally, the facility has climate control systems and approximately 224 parking spaces.
Located at700 W Mississippi Ave., this industrial park is currently fully leased to six tenants with an average lease term of over thirteen years each. Over the past decade,the property has maintained a high occupancy rate of around98 percent.
JLL Capital Markets’ Debt Advisory team represented Adler during this transaction led by Senior Managing Director Melissa Rose and Director Rob Bova.The fixed-rate insurance company loan used for financing was originated by Voya Financial according to Commercial Edge data.
This recent deal highlights Adler’s continued growth strategy within the commercial real estate market without mentioning any specific location or organization names.
