Institutional investors acquires Hub 25 for $74m

Institutional investors acquired Hub 25, a recently completed class A multi-tenant industrial campus in Denver, for $74m. The buyer was advised by J.P. Morgan Asset Management, while CBRE represented the seller, Westfield Company. The 421,499 sq ft industrial park was once the former site of Mapleton High School. The facility is 95 percent leased to eight tenants, including BSI Designs, Mountain High Appliance and Rep Fitness. Hub 25 includes four buildings ranging from approximately 43,500 to 145,000 sq ft. The buildings offer a mix of distribution, office and showroom space with clear heights between 24 and 28 feet, ESFR sprinklers, front park/rear load functionality, 135-foot truck courts, trailer parking and storage space. The campus is located on 23.76 acres between I-70 and I-76 in unincorporated Adams County.

“What Westfield accomplished at Hub 25 is an amazing feat. They took on a complicated piece of land that needed significant improvements, recognized a need in the market for small-bay, light industrial space and delivered an outstanding product that piqued the interest of top-tier capital. That process often takes several years, and Westfield made it happen in just over two,” said Tyler Carner, senior vice president at CBRE in Denver.