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1/11/22
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San Diego-based Westcore acquired a brand new, 142.8k sf Class A industrial building in Aurora, CO in a $33 mil ($231/sf) transaction. Known as Park 225, the newly constructed, state-of-the-art multi-tenant building was 57% leased to two tenants at the time of sale.
Built in 2020 by a joint venture between Karis Capital and AEW, Park 225 is located at 13575 E 37th Ave. The property features 32’ clear height, excellent cross-dock loading with concrete truck court aprons, an ESFR sprinkler system, interstate visibility, heavy trailer parking, and available yard.
Will Strong, Kirk Kuller, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group in Phoenix represented the seller in the transaction. Cushman & Wakefield’s Matt Tone, SIOR, Steve Hager, Joey Trinkle, Drew McManus, SIOR, Ryan Searle, and Bryan Fry provided leasing advisory.
“Park 225 is a best-in-class institutional industrial development located in the prestigious Northeast industrial submarket of Metro Denver and located at the I-70 and I-225 interchange, which offers direct access to Denver International Airport. The area has achieved significant rental rates due to its access to local, regional, and national markets via an integrated network of highways and interstates,” said Strong.
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