$392.9 million industrial sale is largest in Colorado history

Margaret Jackson

With the $392.9 million sale of a 16-property industrial portfolio to an institutional investor, Etkin Johnson Real Estate Partners will start winding down its 32-year-old business.

The sale is the largest industrial sale in Colorado history by dollar volume, topping Etkin Johnson’s previous record-breaking sale of its Colorado Industrial Portfolio for $247.5 million in 2019.

“This deal is further validation of our years of tireless work to set new standards and capitalize on the unique opportunities in the market to deliver not only a great product but also attract companies that have become invaluable members of the Etkin Johnson family here in Colorado,” said David Johnson, president of Etkin Johnson, said in a statement.


Colorado Technology Center/Courtesy of Etkin Johnson Real Estate Partners

The 1.6 million-square-foot industrial portfolio sits on 580 acres at the Colorado Technology Center near U.S. 36 and Northwest Parkway in Louisville. Etkin Johnson sold its holdings at CTC after a rigorous search for a buyer that would continue to operate the properties according to the high standards set by Etkin Johnson.

“These irreplaceable, highly functional buildings represent Colorado’s best-in-class industrial real estate located between Denver and Boulder in one of the area’s most supply-constrained markets,” said CBRE Executive Vice President Jeremy Ballenger, who along with CBRE brokers Tyler Carner, Jim Bolt, Tim Richey and Jessica Ostermick represented Etkin Johnson in the transaction. “In addition to the quality of the assets, the portfolio drew interest for its strong credit tenancy representing a mix of high-growth industries, including aerospace, life sciences, manufacturing, e-commerce and third-party logistics.”

Etkin Johnson declined to disclose the buyer of the Colorado Technology Center, and the transaction had not yet been recorded on Wednesday afternoon.

The CTC portfolio includes:

  • 321 S. Taylor Ave.
  • 1480 Arthur Ave.
  • 346 S. Arthur Ave.
  • 195 CTC Blvd.
  • 1775 Cherry St.
  • 1795 Dogwood St.
  • 1886 Prairie Way
  • 1900 Cherry St.
  • 1900 Taylor Ave.
  • 633 CTC Blvd.
  • 2035 Taylor Ave.
  • 600 Tech Court
  • 700 Tech Court
  • 725 Tech Court

The type of modern industrial available in the CTC, which is increasingly expensive to build, is sought after by many of the region’s major employers. Its location between Denver and Boulder give those companies access to two highly educated labor pools.

Etkin Johnson has been steadily disposing of its real estate portfolio as it winds down operations. Earlier this month one of Etkin Johnson’s holding companies sold a pair of office buildings at the Altria office campus in Broomfield for $56.25 million to an entity affiliated with California-baed Kennedy Wilson Inc. Completed about two years ago, Altria is home to footwear brand Crocs Inc. and Conga, an end-to-end digital document transformation company. Etkin Johnson broke ground on the Atria campus, which includes two 86,690-square-foot buildings, in 2016.


David Johnson, left, and Bruce Etkin/Courtesy of Etkin Johnson Real Estate Partners

While Etkin Johnson will cease the majority of its leasing and management operations, it will retain ownership of its newest project, FalconView in Colorado Springs. The company is continuing to look for additional investment opportunities in other projects in Colorado’s real estate market.

Founded in 1989, Etkin Johnson assembled a portfolio of industrial assets that attracted high-profile companies. As the company grew, it branched out into other property types, including multifamily, flex and hospitality. By the time it ceases operating, it will have sold nearly $900 million in real estate assets in Colorado. In total, the company has developed and acquired more than 90 properties along Colorado’s Front Range totaling more than 9.8 million square feet. Its current portfolio includes office and industrial properties totaling nearly 1 million square feet as well as multifamily holdings.

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I'm a Denver-based business writer with expertise in commercial and residential real estate as well as general business news.

Denver, CO

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