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11/08/23
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Crosse Partners purchased Moncrieff Business Center, a 101.4k sf warehouse distribution center in Aurora, CO for $10.9 mil, or $107/sf. The asset was sold by an affiliate of Zurich Alternative Asset Management.
Located at 14603 E. Moncrieff Place in Aurora, the highly functional infill property sits along the Union Pacific Rail Line with immediate access to Interstates 70 and 225. The building has a unique combination of amenities, including an ESFR fire protection system, fenced outdoor storage, ample parking, doors accessible to the rail line and oversized drive-in doors.
Moncrieff Business Center is located in the Airport submarket, which is home to Denver’s largest mass of warehouse and distribution facilities. The area consistently sees high demand and has recorded 29 years of consecutive positive annual net absorption. The submarket once again performed the best across all primary metrics in the metro area in the third quarter of 2023, accounting for 48% of all leasing activity and 73% of all positive net absorption, according to CBRE Research.
CBRE’s Jeremy Ballenger, Tyler Carner, Jessica Ostermick and Jim Bolt represented the seller in the transaction.
“Industrial spaces like Moncrieff Business Center are hard to come by,” noted Ballenger. “The property is accessible by both interstate and rail and is located in Denver’s most-desirable submarket for distribution needs. The building has been fully leased for years and will continue to be an attractive option for tenants looking for functional high-quality distribution and manufacturing space.”
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