Cushman & Wakefield has advised the joint venture of Karis Capital and AEW in the sale of a newly developed Class A industrial building totaling approximately 164,000 square feet in Aurora (Denver), Colorado. Referred as Park 70, the property was acquired by global investment firm KKR through KKR’s Americas opportunistic equity real estate strategy. Constructed in 2020 by Karis Capital and AEW, the building is 100% leased to two tenants.
Executive Managing Director Will Strong, Associate Greer Oliver, and Analyst Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction along with Drew McManus. Matt Trone, SIOR, Steve Hager, Ryan Searle, and Joey Trinkle of the firm’s Denver office provided Leasing Advisory.
“Park 70 is a state-of-the-art industrial project that given the property’s institutional quality coupled with a central location was ideally positioned to capitalize on tight market conditions, including land constraints,” said Will Strong. “Its Class A design and construction positioned it amongst the top within its competitive set.”
Greer Oliver added, “Situated within Denver’s Northeast Industrial submarket, and more specifically, the predominant Park 70 distribution hub, the project offered an excellent, stabilized multi-tenant investment opportunity.”
Park 70 is located at 1910 North Gun Club Rd and situated on 10.3 acres. The facility features 32’ clear height, excellent loading, ESFR sprinkler system, abundant parking, and heavy trailer parking. The building is located at the confluence of Interstate 70 and E-470, offering direct access to Denver International Airport.