Jones Lang LaSalle Inc.
08/26/2024 | Press release | Distributed by Public on 08/26/2024 10:13
Dove Valley Logistics Center II trades hands
DENVER, Aug. 26, 2024 - JLL Capital Markets announced today the sale of Dove Valley Logistics Centre II, a 304,620-square-foot Class A warehouse in Englewood, Colorado.
JLL worked on behalf of the seller, BlueScope Properties Group, in the sale to LBA Realty.
The cross-dock warehouse built in 2023 boasts best-in-class features, including 89 dock high doors, 36-foot clear height, 60-foot column spacing, and ESFR sprinklers. Additionally, the property has 6,700 square feet of office space, complete with an employee break area, wellness room, conference room and security station. The property is 100% leased to a leading e-commerce giant.
Located at 7800 S Fairplay St. in Denver's Southeast submarket, the property provides excellent access to both I-25 and E-470 and resides within close proximity of the highest concentration of executive housing in the entire Denver metro area.
"This was our second development and sale in the Southeast Denver market, and JLL came through again with delivering a fantastic tenant and running a first-in-class sales process," said Matt Roth, President of BlueScope Properties Group. "LBA's approach to due diligence and purchase process was completely professional and seamless, and I congratulate LBA on acquiring this Class A facility."
The JLL Investment Sales and Advisory team was led by Senior Managing Director Sean Devaney and Director Rob Key.
"The sale of Dove Valley Logistics Center II underscores the strong investor demand for industrial product in Denver's Southeast submarket," said Key. "With its strategic location providing connectivity to the entire Denver metropolitan area, particularly South Denver and the growing population along the I-25 corridor, it comes as no surprise that this submarket continues to attract institutional capital."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About BlueScope Properties
BlueScope Properties Group (BPG) develops commercial and industrial properties throughout North America. BPG is a subsidiary of BlueScope Steel Ltd. (ASX:BSL), an international steel solutions company with a global presence. BPG has direct access to capital for property development projects, no outside investors or special credit facilities are needed. Headquartered in Kansas City, Missouri, BPG is closely connected to BlueScope Buildings North America (BBNA), the leader in customized and fully engineered buildings, BPG leverages the BBNA Builder Networks' more than 2,000 contractors to build with critical local knowledge and expertise. For more information, visit BlueScopePropertiesGroup.com.
LBA Realty, founded in 1991, is a full-service real estate investment and management company with a diverse portfolio of office and industrial properties in major markets throughout the United States, including California, Colorado, Washington, Oregon, Arizona, Utah, Illinois, Indiana, Ohio, New Jersey, New York, Pennsylvania and Florida. The foundation of the company is to create and execute customized value creation programs for individual properties and to develop strong customer relationships. LBA Logistics operates a portfolio of industrial properties that total over 54 million square feet located throughout the United States including state-of-the-art, high bay distribution space, light manufacturing, multi-tenant business parks and R&D space. Their facilities provide a unique variety of industrial space for its customers both large and small. The locations range from major port and airport adjacent locations including Los Angeles, Oakland, San Francisco, San Diego, New Jersey, New York, Miami and Seattle to more regional inland locations such as Dallas, Denver, Phoenix, Chicago and Las Vegas.