California Firm Snaps Up 108K SF Thornton Industrial Property: The Denver Deal Sheet
California-based Posiflex acquired Building Three at Innovate 25 in Thornton for $19.5M, according to a press release and public records reported by the Denver Business Journal.
The 108K SF industrial building is still under development at 251 E. 126th Ave.
The property is part of Brennan Investment Group’s three-building, 302K SF project. Stream Realty Partners represented Brennan in the transaction.
Two buildings remain available at Innovate 25, including one with a new spec suite. The presale highlights continued demand for Class-A space along the North I-25 corridor.
“The presale of Building Three at Innovate 25 highlights the strong demand for users seeking Class A industrial space in the North Interstate 25 submarket,” Stream Executive Vice President Dominic DiOrio said in the release.
SALES
An 8K SF multitenant retail property at 9447 Park Meadows Drive in Lone Tree sold for $3M. Pinnacle Real Estate Advisors’ Cody Stambaugh, Elizabeth Morgan and Kyle Moyer represented the seller, Park Meadows and Merchants LLC.
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Hyde Development and Mortenson Properties acquired Potomac Park I & II, Class-A industrial buildings in Englewood, from Westcore. The sale, brokered by Cushman & Wakefield and CBRE, was part of a multistate portfolio that also included Salt Lake City’s Raceway Commerce Center. Financial details were not disclosed.
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CenterSquare Investment Management acquired North Bear Crossing, a 32K SF retail property in Lakewood. The center is 86% leased to tenants including Domino’s, KFC/A&W, Moe’s BBQ and F45. Financial details were not disclosed.
LEASES
Novelty Lights signed a 92K SF lease at 3700 N Windsor Drive in Aurora, relocating its distribution operations from Centennial. Lee & Associates Denver’s Ron Webert represented the tenant. Financial details were not released.
PEOPLE
Cresa promoted Chris Smith to principal in its Denver office. Smith, who rejoined the firm in 2022, focuses on industrial and office occupier advisory and has received two promotions this year.
THIS AND THAT
JLL reported that last-mile users, logistics, retail, consumer products and construction have accounted for more than 44% of Denver industrial leasing activity since 2020. Construction has emerged as a steady driver, shifting toward larger-block leasing as infrastructure projects scale, while health, aerospace and professional services are also gaining ground.
