Harrison Properties, a real estate firm 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 recorded in Colorado since 2022, according to data from CBRE.
Jeremy Ballenger, Executive Vice President at CBRE, noted the rarity of transactions of this magnitude in a single market. “With this size, we initially considered splitting the portfolio. However, Harrison recognized the strong tenant demand for functional, small-bay warehouse spaces in Denver and took the opportunity to purchase both properties together,” he stated.
The two industrial centers are strategically located near the intersection of Interstate 70 and Interstate 225, providing excellent access to the metropolitan area of Denver. The Upland Distribution is a substantial component, comprising 1 million square feet and consisting of ten small-bay buildings. At the time of the sale, Upland was 85% occupied by 27 tenants, with an average suite size of 30,367 square feet.
The Denver Business Center adds nearly 594,000 square feet and features six small-bay buildings. Occupancy levels were higher here, with the park being 92% leased by 16 tenants, averaging nearly 30,000 square feet per suite.
“We’re excited to build a team in Denver and be a part of this dynamic community,” said Jim Harrison, president of Harrison Properties. This acquisition illustrates the company’s commitment to expanding its footprint in a high-demand market.
Both centers boast a diverse range of tenants, contributing to the overall stability and appeal of the investment. The total price of the sale remains undisclosed.
According to CBRE, the industrial sales volume in the Denver metro area reached $488 million in the third quarter of 2025, reflecting a robust 47.7% increase year-over-year. Year-to-date transaction volume stands at $1.6 billion, nearly double the total recorded during the same period in 2024.
Alongside Ballenger, CBRE’s team representing the seller included Executive Vice President Tyler Carner, Senior Vice President Keiffer Garton, and Vice Chairman Jim Bolt.
Harrison Properties LLC is known for owning, leasing, and managing over 12 million square feet of industrial properties across Arizona, Utah, New Mexico, and Texas. This latest acquisition marks a significant milestone in the company’s growth strategy and demonstrates their confidence in the Denver industrial real estate market.
