Etkin Johnson Closes on Largest Industrial Sale in Colorado
DENVER , April 21, 2021 /PRNewswire/ -- Etkin Johnson Real Estate Partners, a full-service, privately owned commercial real estate investment and development company based in Colorado , recently completed the sale of a 16-property, 1.67 million-square-foot industrial portfolio in Louisville, Colorado to an institutional investor for $392.9 million . All 16 buildings are located within the Colorado Technology Center, a 580-acre master-planned business park near US 36 and the Northwest Parkway in Boulder County . Brokers Jeremy Ballenger , Tyler Carner , Jim Bolt , Tim Richey and Jessica Ostermick from CBRE represented Etkin Johnson in the transaction. "One of the core contributors to Etkin Johnson's success has always been our ability to stay ahead of the curve when it comes to industry trends," said Bruce Etkin , chairman of Etkin Johnson. "Our investments in industrial/flex space in prime locations over the last decade have proven prescient. Our CTC portfolio was in high demand, allowing us to select buyers who understand the value they bring and achieve strong returns for our investors." Etkin Johnson sold its CTC holdings following a rigorous search for entities that would continue operating the properties according to the high standards set by Etkin Johnson. The CTC sale ranks as the largest industrial sale in Colorado's history by dollar volume, topping Etkin Johnson's own 2019 record-breaking sale of its Colorado Industrial Portfolio for $247.5 million . "These irreplaceable, highly functional buildings represent Colorado's best-in-class industrial real estate, located between Denver and Boulder in one of the area's most supply-constrained markets. In addition to the quality of the assets, the portfolio drew interest for its strong credit tenancy, representing a mix of high-growth industries including aerospace, life sciences, manufacturing, e-commerce and third-party logistics," said Jeremy Ballenger , executive vice president, CBRE. CTC offers the type of modern industrial space that is sought after by major companies and increasingly expensive to build. Additionally, its proximity to Denver and Boulder means companies have access to two highly educated labor pools. These factors, combined with the historic run-up that metro Denver's industrial market has experienced in recent years, made the properties an attractive asset for buyers. For more information about Etkin Johnson's portfolio, visit etkinjohnson.com. About Etkin Johnson Since the company's founding in 1989, Etkin Johnson Real Estate Partners has built an extensive real estate portfolio of income-producing properties with favorable appreciation potential. In total, we have developed and acquired more than 90 high-quality properties across Colorado's Front Range, totaling over 9.8 million square feet. Our current portfolio includes office and industrial properties totaling nearly 1 million square feet, along with multifamily holdings. For more information, please visit etkinjohnson.com .