Lightstone Secures $40M Financing for 11 Industrial Properties in Broomfield
JLL Capital Markets recently arranged $40 million in acquisition financing on behalf of Lightstone, a New York-based privately held real estate investment company, for the purchase of the Commander Industrial Portfolio, an 11-building, multi-tenant industrial portfolio totaling 511,581 square feet in Broomfield.
The portfolio consists of 2100, 2300, 2380, 2400 and 2275 W Midway Blvd.; 2105-2165 Alter St.; and 400, 452, 500, 510 and 520 Burbank St. The properties are located on 30.49 acres in Metro Denver’s Northwest corridor along US-36 providing access to Denver, Boulder, Westminster and more. The area surrounding the portfolio is home to over 950 companies and 800,000 employees. In addition, the University of Colorado Boulder is 10 minutes away with a talent pool of over 45,000 students.
“This portfolio is well-positioned for growth, as it is located in one of the most sought-after industrial markets in the country,” said Mitchell Hochberg, president of Lightstone. “We are thrilled to add it to our portfolio and to once again partner with JLL to secure financing. They found the ideal lender for us and made the process seamless.”
The portfolio is fully occupied by 17 unique tenants across eight industries, including food and beverage, manufacturing, distribution, transportation and more. The buildings offer 16-24’ clear heights and up to 30% office finish.
The JLL Capital Markets team representing the borrower was led by Managing Directors Peter Rotchford and Mark Root and Director Lucas Borges.