Westcore, a leading industrial real estate acquisition, development and asset management firm, recently acquired “Park 225,” an approximately 143,000-square-foot industrial facility in Aurora, Colorado, for $33 million. The Class A, state-of-the-art facility is located at 13575 E. 27th Avenue in Aurora, to the northeast of Denver. Park 225 was developed and sold by a joint venture between Karis Capital and AEW.
Park 225 features 32-foot clear height ceilings, excellent cross-dock loading with concrete truck aprons, an ESFR sprinkler system, 60-foot speed bay depths, and outdoor storage yards. It is located near the I-70 and I-225 interchange, offering easy access and excellent signage opportunities.
Park 225 was 57 percent leased to two (2) tenants at the time of the purchase. Westcore will begin construction on a 2,500 to 3,000-square-foot, speculative office suite in the vacant space to prepare the space for tenancy.
“The design of this infill, low-coverage, cross-dock facility was thoughtful and well-executed, as the site layout provides unique versatility to meet current tenant demands with the ability to provide outdoor storage yard areas in addition to modern building features,” said Westcore Director of Acquisitions Mike Metzger.
Westcore represented itself, while Will Strong, Executive Managing Director of Cushman & Wakefield, represented the seller in the transaction.
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