JLL Arranges Industrial Real Estate Acquisition of 466,270-Square-Foot Park Industrial Portfolio in Commerce City
COMMERCE CITY, Colo. — JLL Capital Markets announced June 8 that it arranged the real estate acquisition of Park Industrial, a 13-building, 466,270-square-foot industrial portfolio located at the intersection of Interstate 270 and 58th Avenue in Commerce City, Colorado. The buyer, Speed Bay Warehouse Solutions, was represented by JLL in the off-market transaction. KEW Realty, a private Denver-based investor, was the seller.
Industrial Real Estate Portfolio Details
The Park Industrial portfolio spans two development phases with property vintages ranging from 1968 to 2017. Phase 1–3 comprises 10 buildings totaling 311,270 square feet, with an average vintage of 1987 and clear heights of 18 to 20 feet. Phase 4 includes three buildings totaling 155,000 square feet, with an average vintage of 2013 and 24-foot clear heights.
Tenant spaces across the portfolio range from 2,500 to 35,000 square feet, averaging 8,600 square feet per unit. The buildings feature low office finishes and are configured primarily for distribution and light industrial users. The properties are located at 5690, 5700 and 5710 East 56th Avenue; 5750, 5800, 5900, 6000, 6050 and 6100 East 58th Avenue; 6125 East 56th Avenue; and 6300, 6340 and 6360 East 58th Avenue.
The portfolio's infill Commerce City location provides access to major transportation corridors and sits within a 10-mile radius containing approximately 1.4 million residents, according to JLL. The firm noted that the positioning offers limited new supply competition while maintaining proximity to Denver's urban core and a broad labor pool.
The Real Estate Acquisition: Buyer, Seller, and Advisors
Speed Bay Warehouse Solutions is a Denver-based real estate investment and management firm focused on shallow-bay, multi-tenant light industrial properties. It was founded in 2024 by Evan Zucker and Jimmy Mulvihill, the entrepreneurs behind Black Creek Group, a real estate investment management firm that was acquired by Ares Management in 2021. Speed Bay is headquartered in Denver with regional offices in Dallas, Atlanta, and the Northeast, and personnel in Philadelphia, Phoenix, and Tampa.
KEW Realty, the seller, is a family-owned Denver-based commercial real estate firm with more than 50 years of operating history. The firm assembled and developed the Park Industrial portfolio over multiple decades. The sale price was not disclosed.
The JLL Capital Markets team was led by Senior Managing Director Peter Merrion and Director Robert Key.
"The Park Industrial portfolio sale represents a distinctive off-market transaction pairing a multi-decade legacy owner with Speed Bay Warehouse Solutions," Key said in a statement. "Portfolios of this scale rarely trade hands in the Denver market, reflecting sophisticated capital's recognition of the value proposition offered by well-located small-bay industrial assets with infill positioning, functional building features and flexible tenant configurations."
David Spira, President and CEO of KEW Realty, also commented on the transaction. "KEW Realty assembled and built this portfolio for over four decades. We are very proud of this accomplishment," Spira said, adding thanks to his team and counterparts at JLL and Speed Bay.
About the Firms Involved
JLL is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in over 80 countries. The firm's Capital Markets group includes more than 3,000 specialists in nearly 50 countries and provides investment sales and advisory, debt advisory, equity and fund placement, and related services.
Speed Bay Warehouse Solutions describes its senior management team as having an average of approximately 30 years of experience in the industrial sector. The firm focuses exclusively on shallow-bay, multi-tenant light industrial properties.
KEW Realty has been engaged in owning, managing, leasing, acquiring, building, and renovating commercial properties for more than 50 years and describes itself as a family-owned business.
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