Harrison Properties, a real estate firm based in Phoenix, has made a significant entry into the Denver industrial market with the acquisition of a portfolio encompassing 1.6 million square feet across 16 buildings. This transaction, which includes the Upland Distribution Portfolio and the Denver Business Center, represents the largest industrial deal in Colorado since 2022, according to data from CBRE.
Jeremy Ballenger, Executive Vice President at CBRE, highlighted the rarity of such substantial transactions occurring in a single market. He explained that while they initially considered marketing the properties separately, Harrison Properties recognized the strong demand for functional, small-bay warehouse spaces in Denver and opted to purchase both properties together.
The Upland Distribution Portfolio spans 1 million square feet and comprises ten small-bay buildings. At the time of sale, it was 85% occupied by 27 tenants, with an average suite size of approximately 30,367 square feet. The Denver Business Center, nearly 594,000 square feet in size, consists of six small-bay buildings and was 92% occupied by 16 tenants, averaging nearly 30,000 square feet per suite. Both properties are strategically situated near the intersection of Interstate 70 and Interstate 225, providing immediate access to the wider Denver metro area.
Jim Harrison, president of Harrison Properties, expressed enthusiasm about the acquisition, stating, “We’re excited to build a team in Denver and be a part of this dynamic community.”
Market Impact and Future Prospects
The sale comes amid a notable increase in leasing activity for industrial spaces in the Denver area. According to CBRE, the industrial sales volume in the Denver metro reached $488 million in the third quarter of 2025, marking a substantial 47.7% increase year-over-year. This brings the year-to-date transaction volume to an impressive $1.6 billion, nearly double the amount recorded during the same period in 2024.
CBRE’s team, including Executive Vice President Tyler Carner, Senior Vice President Keiffer Garton, and Vice Chairman Jim Bolt, represented the seller in this landmark transaction. While the price of the sale has not been disclosed, the implications for the Denver industrial market are clear.
Harrison Properties LLC, which owns, leases, and manages over 12 million square feet of industrial properties across states including Arizona, Utah, New Mexico, and Texas, aims to leverage this acquisition to expand its footprint and enhance its service offerings in the Denver area. The firm’s commitment to the local market is evident as they plan to build a dedicated team to manage their new assets.
This acquisition not only marks a pivotal moment for Harrison Properties but also signifies a robust recovery in the Denver industrial sector, reflecting broader trends in the real estate market. As demand continues to grow, stakeholders will be watching closely to see how this transaction influences future developments in the region.
