HFF announces $11.2M financing for 7-building flex industrial park in Denver
NEWPORT BEACH, CA – January 2, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $11.2 million acquisition financing of Turnpike Business Park, a seven-building flex industrial business park totaling 188,077 square feet in Denver, Colorado.
The HFF team worked on behalf of the borrower, The Bendetti Company, to place the 10-year, fixed-rate loan with a life company.
Turnpike Business Park comprises three single-story and four two-story multi-tenant buildings 88.26 percent leased to 67 tenants, including Folsom Custom Skis; DCND, Inc.; Corporate Capital Improvements; U-Pull & Play; Amos & Connors Sales, Inc.; and Hooked on Espresso. Situated on 12 acres at 7100 Broadway, the park is located in the Northwest Industrial submarket and is at the confluence of Interstate 25 and U.S. Highway 36, which provides direct travel to Westminster, Broomfield, Louisville and Boulder. The property is 23 miles from Denver International Airport and less than eight miles from downtown Denver.
HFF’s debt placement team representing the borrower included senior director Jon Chun, director Brock Yaffe and associate Peter Thompson.
About The Bendetti Company
The Bendetti Company is a Southern California-based commercial real estate company, which focuses on the investment and management of commercial properties in the western U.S. Founded in 1964, The Bendetti Company looks for value-add or core plus investment opportunities to achieve superior risk-adjusted returns for clients and investors. For more information, visit bendetti.com.
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.