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Broomfield industrial complex acquired for $72M

BROOMFIELD — An 11-building, 512,000-square-foot Broomfield industrial complex near the interchange of U.S. Highway 287 and U.S. Highway 36 has been acquired by a New York investor for $72 million. 

The Commander Industrial Portfolio, as the complex is called, is 100% leased. It features 17 tenants in spaces ranging from 5,000 square feet to 68,000 square feet in size,

The buyer is Lightstone Group, which is based out of New York City. This is Lightstone’s first acquisition in Colorado. The seller, San Diego-based Westcore, had purchased the portfolio for $48 million in 2020.

Lightstone was represented in the transaction by Peter Rotchford, Mark Root and Lucas Borges of JLL Capital Markets. JLL also helped arrange $40 million in acquisition financing for Lightstone. 

“This portfolio is well-positioned for growth, as it is located in one of the most sought-after industrial markets in the country,” Mitchell Hochberg, president of Lightstone, said in a statement. “We are thrilled to add it to our portfolio and to once again partner with JLL to secure financing. They found the ideal lender for us and made the process seamless.”

Source: BizWest

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