JLL Capital Markets has secured $99.3 million in refinancing for 25 North, a Class A industrial complex located in Thornton.
JLL worked on behalf of Sagard Real Estate, a subsidiary of the global alternative asset management platform Sagard, to secure a loan through a debt fund.
The 936,775-square-foot industrial development consists of nine Class A buildings constructed between 2020 and 2024 on 66.34 acres. The property features clear heights ranging from 28 to 32 feet, 205 dock-high doors, 34 drive-in doors and 1,770 parking spaces. The development offers flexible configurations with suite sizes ranging from 14,262 to 135,000 square feet, accommodating both single and multi-tenant operations for warehouse, distribution and showroom uses.
The property is leased to a diverse roster of regional and national tenants. With premier access to I-25 and E-470—just two minutes from both major arteries—the development combines exceptional highway connectivity with state-of-the-art buildings. This strategic location provides visibility to more than 120,000 vehicles daily along the I-25 frontage while offering convenient access to key destinations: 25 minutes to downtown Denver, 20 minutes to Denver International Airport and 25 minutes to Boulder and the northwest Denver metro area. The combination of visibility, accessibility and modern facilities creates an ideal setting for companies looking to establish, consolidate or grow their operations.
The JLL Capital Markets team was led by Executive Managing Director Eric Tupler, Senior Managing Director John Rose and Vice President Emily Goldsberry.
“25 North represents a best-in-class industrial complex that distinguishes itself from competing properties through its flexible suite configurations, enhanced power capabilities and prime I-25 corridor location,” said Tupler. “The North I-25 Industrial submarket continues to demonstrate market-leading fundamentals with strong leasing momentum benefiting from flight-to-quality dynamics and the premium positioning of newly delivered product. This refinancing reflects the institutional quality of both the asset and sponsorship while positioning the property for continued value creation through strategic lease-up activities.”
