
Berkeley Bags Industrial Portfolio for $248M, Colorado’s Largest Ever
San Francisco-based Berkeley Partners purchased a 1.95-million-square-foot Colorado Industrial Portfolio (CIP) from Etkin Johnson Real Estate Partners for $247.5 million. The sale marks Berkeley Partners’ first acquisition in the Colorado market, and ranks as the state’s largest ever industrial sale.
Etkin Johnson’s Derek Conn says, “This sale allows us to return a significant profit to our investors, and position Etkin Johnson for the next 30 years as we continue diversifying our portfolio.”
Etkin Johnson acquired the 19 properties, which range in size from 26,078 to 293,510 square feet, between 1990 and 1998. The portfolio was 93% leased at the time of the sale.
CBRE’s Jim Bolt, Jeremy Ballenger, Tyler Carner and Mike Winn represented the seller. CBRE’s Ballenger says, “This sale represented a unique opportunity to own a critical mass of infill industrial in Colorado’s growing Front Range markets.”
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* Pictured Inverness Business Center South, Englewood, CO
- ◦Sale/Acquisition