Highfield Building 5, an industrial building in the Highland Business Park in north Douglas County, has sold for $13.5 million to Lincoln Property Co., a Chicago commercial real estate firm.
The 101,000-square-foot building is located at 14150 Grasslands Drive, east of Centennial Airport, with an Englewood postal address.
It is the latest development by Confluent Development and Bradbury properties in Highfield Business Park. Both are locally based real estate developers.
In November, Confluent and Bradbury announced they would deliver three new buildings to the park.
“The opportunity to acquire Highfield Building 5 attracted tremendous interest from both private and institutional capital. Investors are drawn to Denver’s positive market dynamics – including job and population growth – as well as the outlook for the industrial sector in general,” said Jeremy Ballenger, senior vice president at CBRE.
Highfield Building 5 is fully leased to Charter Communications and Gateway Classic Cars. Fourteen percent of the building is office space, and the rest is warehouse.
“We’re thrilled with the successful sale of this high-quality industrial asset,” said Marshall Burton, president and CEO of Confluent Development. “The sale represents the strength of Highfield Business Park as an industrial hub primed for continued expansion.”
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Rank Business name Total dollar amount of sales brokered in the Denver area in 2016 1 Newmark Knight Frank/ARA, A Newmark Co. $2.31 billion 2 HFF LP $2.13 billion 3 Marcus & Millichap $1.18 billion View This List