Speed Bay Warehouse Solutions has expanded its shallow-bay industrial footprint with the purchase of Park Industrial, a 13-building warehouse portfolio in Commerce City, Colorado. The 466,270-square-foot industrial cluster is located at the intersection of Interstate 270 and 58th Avenue, providing regional highway access for tenants and users. KEW Properties sold the portfolio to Speed Bay, marking a significant industrial trade in the Commerce City market.
JLL Capital Markets brokered the transaction for Speed Bay, with a team led by Peter Merrion and Robert Key. The brokerage coordinated the sale of the multi-building portfolio and represented Speed Bay in the acquisition. The deal underscores ongoing investor interest in multi-tenant industrial assets that offer flexibility in suite sizes and a range of building vintages.
Park Industrial is organized into two main phases spanning construction dates from 1968 through 2017. Phases one through three total 311,270 square feet across 10 buildings, with an average vintage of 1987, reflecting a mix of older but functional product. Phase four consists of 155,000 square feet in three more modern buildings, averaging a 2013 vintage. Together, the buildings provide a spectrum of industrial space options that can accommodate different tenant requirements within a single park setting.
The portfolio is configured for multi-tenant occupancy, with suites ranging from approximately 2,500 square feet to 35,000 square feet and an average tenant space size of about 8,600 square feet. This range of suite sizes is designed to appeal to a variety of small and midsize industrial users, including distribution, light manufacturing and service-oriented tenants that typically favor shallow-bay product and convenient highway access.
The acquisition comes shortly after the formal launch of Speed Bay's industrial investment platform. That platform recently received a $250 million strategic capital commitment from a subsidiary of BDT & MSD Partners, alongside a $100 million commitment from Speed Bay's founders. The Commerce City purchase is one of the early transactions for the newly capitalized platform, aligning with its focus on shallow-bay industrial properties in supply-constrained, infill locations.
By securing a sizable portfolio that combines legacy buildings with relatively new product, Speed Bay gains immediate scale in an established industrial park. The mix of vintages, suite sizes and building types positions the portfolio to serve a broad cross-section of industrial tenants while allowing the new owner to pursue its operating and leasing strategies within a single, highway-adjacent location.
