18300 E. 28th Avenue in Aurora, CO.
DENVER, CO – ASB Real Estate Investments has acquired an industrial portfolio, totaling 633,193 square feet in the Denver metropolitan area, for $72 million. The investment was completed on behalf of ASB's Allegiance Real Estate Fund, a $7.5 billion core vehicle.
The warehouse portfolio consists of three class-A buildings, located in Denver's Airport submarket. The acquisition includes the 406,959-square-foot property at 22100 E 26th Avenue in Aurora, the 140,630-square-foot property at 9410 Heinz Way in Commerce City and the 85,604-square-foot property at 18300 E. 28th Avenue in Aurora. The fully-leased buildings are currently occupied by Subaru of America, Home Depot and Old West Mattress Company, respectively.
The buildings, constructed between 2000 and 2007, each feature 28-foot to 32-foot ceiling heights, ESFR sprinkler systems, flexible layouts and optimal truck court depth.
As the largest industrial submarket in Denver's metropolitan area, the Airport submarket is situated near transportation hubs such as the Denver International Airport, I-70 and a freight rail junction.
Link Properties, a Blackstone affiliate, served as the seller for the properties.
ASB has acquired more than 5.1 million square feet of industrial space across in major U.S. distribution markets, totaling more than $564 million, since mid-2018.
A division of ASB Capital Management LLC, ASB Real Estate Investments is a real estate investment management firm headquartered in Washington DC. The firm invests in major urban markets across the US, focusing on office, multifamily, retail and industrial properties. The firm has more than $8 billion in assets under management for more than 340 institutional clients.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
