Louisville industrial site fetches $70M

LOUISVILLE — A pair of out-of-state investors traded a large industrial site in Louisville late last month for $69.6 million.

Holding company WSRE CP Centennial Investors LLC, an entity registered to the address of Chicago-based Walton Street Capital LLC, bought the 411,485-square-foot property at 333 and 335 Centennial Parkway from California real estate company Berkeley Partners LLC, which used BPVIF V Holdings 1 LLC for the deal, Boulder County property records show.

The property, which sits on nearly 25 acres, last sold for $49 million in 2020.

At that time, the facility was fully leased “to six tenants representing e-commerce, robotics, biotech, IT and manufacturing,” CBRE, the brokerage that handled the leases, said in 2020.

The Centennial Parkway industrial complex was built in 1995 and was renovated with a new roof, signage and facade several years ago. 

The Louisville deal isn’t the first in Boulder County for either investor. 

In 2021, Berkeley Partners, which owns property within Boulder city limits, bought a commercial portfolio in a southwest Longmont business park that totalled roughly 300,000 square feet for $20.2 million. Later that year, the investor sold one of the properties in that portfolio — the roughly 30,000-square-foot building 1851 Lefthand Circle — for just over $11 million.

Walton Street, last fall, flipped the nearly 368,000-square-foot Harvest Junction shopping center on Ken Pratt Boulevard in Longmont for $73.8 million.

The Chicago investor, along with its Greenwood Village-based partner Alberta Development Partners, had held the shopping center, built in 2006, for fewer than three years. The partnership bought Harvest Junction in early 2019 for $61 million from RPT Relay (NYSE: RPT), which had held the property since 2012. 

Source: BizWest