[[{“value”:”
**Joint Venture Acquires 257,000-SF Colorado Industrial Portfolio for $33.4 Million**
A joint venture between ErvoSquare and Matrix Group has acquired a 10-building small-bay industrial portfolio located in Englewood and Sheridan, Colorado, for $33.4 million. The deal equates to approximately $130.91 per square foot.
The acquisition of the 257,000-square-foot portfolio was facilitated with the assistance of a JLL-led team, and Michael DeSantis and Brett MacDougall of Unique Properties Inc. / TNC Worldwide represented the buyer in the transaction.
Now rebranded as the Santa Fe Industrial Collective, the 13.9-acre portfolio—formerly known as the Pacifica Union portfolio—comprises ten adjacent warehouse buildings that were constructed between 1974 and 1985. These buildings house a total of 108 tenant units, with an average unit size of 2,383 square feet. At the time of the sale, the portfolio was 90 percent occupied.
Going forward, the new ownership group plans to implement significant capital improvements across the portfolio. Planned upgrades include roof replacements, mechanical system enhancements, interior renovations, parking lot improvements, and exterior painting to modernize and revitalize the property.
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