Description

JLL Capital Markets is pleased to present Elevate at Centennial, a two-building, Class A industrial portfolio in Centennial, Colorado (12358 E Easter Ave & 7173 S Revere Parkway). The 90.2% leased portfolio features six quality tenants across aerospace R&D, industrial distribution, specialty manufacturing, and design & engineering, with one 18K SF vacancy and a weighted average lease term of 4.8 years.

Ideally situated at I-25 and Arapahoe Road with direct access to C-470, the property benefits from one of Colorado's strongest trade areas marked by $150K median household income and high STEM workforce concentration. The Southeast submarket has experienced over one million square feet of leasing volume in the past 18 months, while limited developable land and entitlement barriers ensure constrained future supply.

Current weighted average rents of $12.01 PSF sit 15% below market ($13.79 PSF), creating immediate mark-to-market upside. With a desirable average tenant size of 25K SF and 55% of leases rolling within a five-year hold period, the portfolio offers a clear path to NOI growth through both contractual increases (3.4% blended), and lease renewals at market rates.

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