DENVER — A partnership between Hyde Development and Mortenson Properties has acquired Peoria Business Center, an industrial portfolio in Denver, from Invesco for an undisclosed price.
Totaling 592,573 square feet, Peoria Business Center includes three Class A buildings located at 12330 E. 46th Ave., 12360 E. 46th Ave. and 13100 E. Albrook Drive in Denver’s airport submarket. Built between 1999 and 2001, the buildings feature clear heights ranging from 24 feet to 30 feet, ESFR sprinklers, large truck courts, dock-high and drive-in loading, and LED lighting upgrades throughout. At the time of sale, the portfolio was 98 percent leased to 19 diversified tenants.
Jeremy Ballenger, Tyler Carner, Jessica Ostermick and Jim Bolt of CBRE represented the seller in the deal.