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| Mark Detmer |
PHOENIX, AZ – JLL’s
Capital Markets experts announced the company completed the sale of the Western
U.S. Industrial Multi-Tenant Portfolio. JLL represented the seller, BPP
Pacific. Artis REIT purchased the nine-building portfolio for $40 million.
The portfolio totals
379,487 square feet and includes three industrial parks: Rocky Mountain
Business Center located in Aurora, Colorado, and Roosevelt Commons and
Superstition Springs in Mesa and Tempe, Arizona, respectively.
Managing Directors Mark Detmer, Bo Mills and Vice
President Ryan Sitov led the JLL team on the sale with local market support
from Executive Vice Presidents Pat
Harlan and Steve Sayre in Phoenix, and Managing Director Mitch Zatz and Vice President Carm Hicks in Denver.
“This was an excellent
opportunity to purchase institutional quality assets that are well-located
throughout the Western United States,” said Detmer.
“The sale of this
portfolio reinforces the strength of these markets, especially in Denver where high-level
investor interest was piqued by exceptional fundamentals and a choice asset,”
said Hicks. “Our clients had solid buyer choices, which was evident in the
amount of tours and requests for market intel.”
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| Bo Mills |
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For more information on this news release, please
contact:
Stacey Hershauer
Phone: +1 480-600-0195
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