Hyde Development & Mortenson Properties Acquire Peoria Business Center In Denver For $73.5M

Hyde Development and Mortenson Properties have jointly acquired the Peoria Business Center, an industrial campus in Denver, for $73.5 million. The property is located at 12330 East 46th Avenue, 12360 East 46th Avenue, and 13100 Albrook Drive. With a total square footage of 592,572, the property was sold at a price of $124 per square foot. The transaction was completed on January 19, 2024. Invesco acted as the seller in the deal.

Summary of transaction details

• Property Type: Industrial
• Sale Price: $73,500,000
• Square Footage: 592,572
• Address: 12330 East 46th Avenue, 12360 East 46th Avenue, and 13100 Albrook Drive
• Market: Denver, CO
• Buyer: Hyde Development & Mortenson Properties
• Seller: Invesco

The transaction was facilitated by CBRE, with Jeremy Ballenger, Jessica Ostermick, Jim Bolt, and Tyler Carner serving as the brokers representing both the buyer and the seller. The acquisition of the Peoria Business Center adds to Hyde Development and Mortenson Properties' growing portfolio in the Denver industrial market.