Industrial Portfolio in Colorado Financed for $16.8M
JLL Capital Markets recently arranged $16.8 million in financing, on behalf of Flywheel Capital, for the purchase of a fully leased, three-property light industrial portfolio totaling 292,076 square feet in Commerce City, Loveland and Pueblo.
The portfolio comprises 6300 Clermont, a two-building single-tenant asset in Commerce City; Campion Industrial Park, a three-building multi-tenant asset located in Loveland; and 205 N. Elizabeth St. in Pueblo. Completed between 1952 and 2005, the fully occupied portfolio is home to 16 tenants and features clear heights ranging from 12 to 26 feet and 18 loading positions.
The portfolio spans 19.39 acres in high-performing industrial markets with low vacancy rates, steady rent growth and limited supply. The properties have access to extensive transportation arteries, including Interstates 25, 70 and 80, and nearby airports that allow tenants to not only reach their respective markets but easily access a larger regional population.
The JLL Capital Markets Debt Placement team representing Flywheel was led by Senior Managing Director Eric Tupler and Director Rob Bova.
“This was a highly complex transaction involving multiple properties, two acquisitions and a 1031 like-kind exchange component,” said Ian Nichols, senior director at Flywheel, “On behalf of our investors, thanks to the JLL Capital Markets and Huntington National Bank teams for understanding the complexity of this transaction and getting it closed in an efficient manner.”
Photo courtesy of JLL