The sale increases Chicago-based First Industrial's northeast industrial portfolio to 1.7 million sf, and its total Denver portfolio to 5.1 million sf. The seller was the Rreef Fund, which was represented by Brad Calbert of Colliers, Bennett & Kahnweiler.
"The acquisition of these properties is a portfolio enhancement, allowing First Industrial to strengthen its tenant base in northeast Denver,'' says Greg Downs, managing director for First Industrial in Denver, who represented First Industrial. ''It also lets us offer a full range of bay sizes and loading options to our customers."
The recent slowdown of the economy and world turmoil didn't deter First Industrial's purchase.
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