Harrison Properties, a real estate company based in Phoenix, has made a significant entry into the Denver industrial market by acquiring a portfolio that encompasses 1.6 million square feet across 16 buildings. This acquisition includes the Upland Distribution Portfolio and the Denver Business Center, marking the largest industrial transaction in Colorado since 2022, according to data from CBRE.
The acquisition showcases not only the scale of the deal but also the strategic vision of Harrison Properties. “Transactions of this size are rarely seen in just one market,” noted Jeremy Ballenger, Executive Vice President at CBRE. Initially, the portfolio was marketed with options to split it between the two industrial parks, but Harrison Properties recognized the strong demand for functional, small-bay, infill warehouse spaces in the Denver area and chose to purchase both properties together.
Details of the Acquisition
The Upland Distribution is a substantial component of the deal, covering 1 million square feet and consisting of 10 small-bay buildings. At the time of sale, the facility was 85% occupied by 27 tenants, with an average suite size of 30,367 square feet. Meanwhile, the Denver Business Center spans nearly 594,000 square feet and comprises six small-bay buildings. This center was 92% occupied by 16 tenants, with average suites nearing 30,000 square feet.
Both centers benefit from their prime location near the intersection of Interstate 70 and Interstate 225, providing immediate access to the wider Denver metropolitan area. This strategic positioning is expected to enhance their appeal to prospective tenants.
Future Plans and Market Insights
Expressing enthusiasm for the new venture, Jim Harrison, president of Harrison Properties, stated, “We’re excited to build a team in Denver and be a part of this dynamic community.” The company’s expansion efforts into Denver align with broader trends in the industrial real estate market, which has shown resilience and growth.
According to CBRE, the industrial sales volume in the Denver metropolitan area reached $488 million in the third quarter of 2025, representing a 47.7% increase year-over-year. This surge brings the year-to-date transaction volume to an impressive $1.6 billion, nearly doubling the amount from the same period in 2024.
Representing the seller in this landmark transaction were CBRE’s Tyler Carner, Senior Vice President, Keiffer Garton, and Vice Chairman Jim Bolt. Specific financial details regarding the sale have not been disclosed at this time.
Harrison Properties LLC is known for owning, leasing, and managing over 12 million square feet of industrial properties across states including Arizona, Utah, New Mexico, and Texas. The company’s strategic expansion into Denver reflects its commitment to tapping into high-demand markets and enhancing its portfolio.
