Boulder properties part of a $247.5M industrial portfolio sale

BOULDER — Two Boulder industrial buildings recently changed hands in a portfolio sale billed as the largest of its kind ever to occur in Colorado.

Etkin Johnson Real Estate Partners, a Denver-based commercial real estate investment and development company, sold 19 properties along the Front Range to commercial real estate investor Berkeley Partners.

The 1.95-million-square-foot portfolio sold for $247.5 million.

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The more than 100,000-square-foot Spine Road Business Center at 6325 Spine Road in Boulder and the roughly 26,000-square-foot Walnut Business Center at 4725 Walnut Street were included in the deal.

“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 principal Derek Conn said in a prepared statement.

This group of properties, called the Colorado Industrial Portfolio and spread from Colorado Springs to metro Denver to Boulder County, are the first owned by Berkeley Partners in Colorado.

Jim Bolt, Jeremy Ballenger, Tyler Carner and Mike Winn of CBRE represented Etkin Johnson.

“The Denver metro has been experiencing rapid growth, driving demand for industrial,” Matt Novak with Berkeley Partners said in a statement. “This acquisition provides us a critical mass of properties in the market, and our goal is to hold these assets for 10 to 20-plus years, benefiting from the favorable long-term industrial supply/demand fundamentals.”

Even with the sale of the Colorado Industrial Portfolio, Etkin Johnson maintains a presence in the Boulder Valley.

The company recently completed two new buildings in Louisville’s Colorado Technology Center: a nearly 110,000-square-foot FedEx distribution center and a 136,610-square-foot speculative industrial and flexible-use building. That flex space is the first of the three-building development Etkin Johnson has planned for the center. The development, called the Louisville Corporate Campus, will total about 400,000 square feet.