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Clarion Partners acquires 14-building, 1.9 million-sf industrial portfolio

Adams County

Property Location: Gateway Portfolio, 18250 E. 40th Ave., Aurora, et al.

Property Description: 14 industrial buildings ranging from 72,000 sf to 347,840 sf, constructed in 1996, 1997, 1998, 2004 and 2015, 1.93M total square feet

Land Size: 113.452 acres in 14 parcels

Sales Price: $206.15M, or $106.55 psf

Closing Date: 3/8

Grantor: Gateway Industrial Portfolio, Pauls Corp.

Grantee: LIT Gateway Portfolio c/o Lion Industrial Properties, Jennifer Groves, SVP, Clarion Partners, 214-647-4900

Financing: $60M assumed, payable to Nationwide Life Insurance

Comments: Glenborough Properties sold 11 properties back to Pauls Corp. for $61.18 million, or $46 per square foot, in June 2003. after the Pauls Corp. developed the properties beginning in 1996. CBRE handled the sale to Clarion Partners.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.