Irving, TX - Cobalt Capital Partners, L.P., through its Cobalt Industrial REIT II affiliate, has acquired a 500,000 square foot, three building portfolio in Denver, Colorado.
The portfolio is comprised of three infill light industrial buildings built between 1978 and 1996 and is 100% leased to 12 tenants. The properties benefit from core locations within the Airport submarket which is the largest and strongest submarket in Denver and is most noted for its institutional quality inventory, excellent access along major transportation arterials and proximity to Denver International Airport. The Airport submarket is widely recognized as the center of distribution for the Rocky Mountain Region.
"This portfolio fits well within the property criteria we are targeting and contains a diverse mix of national, regional and local tenants. Also, the variety of building sizes and configurations allows for future leasing flexibility." says Lew Friedland, Managing Partner of Cobalt Capital Partners. "We now own approximately one million square feet of light industrial space in Denver which gives us a critical mass in one of the strongest industrial markets in the US."
CBRE Senior Vice President James M. Bolt, exclusively represented the seller in the transaction.