Rockefeller Group has sold 25 Commerce Park, a three-building industrial campus in Thornton, to EastGroup Properties for $94.5 million. The property, completed in 2025, was fully leased to four tenants at the time of the sale, marking the first time it has changed hands since construction wrapped.
The deal was first reported by Connect CRE, whose account of the transaction lines up with details confirmed elsewhere. According to REBusinessOnline, the campus totals 453,550 square feet across its three buildings, though Colorado Construction & Design puts the figure at 453,600 square feet — a discrepancy that remains unresolved between the two accounts. The campus sits at 15003-15107 Grant St., near the intersection of Interstate 25 and E-470, per Commercial Property Executive, though Rockefeller Group's own development page places the address at East 152nd Avenue and Washington Street on a 35.6-acre site, while Commercial Property Executive describes the parcel as more than 30 acres.
Three Buildings, One Fully Leased Campus
The individual buildings break down as 131,250, 146,300 and 176,000 square feet, respectively, according to Commercial Property Executive. All four tenants were in place by the time Rockefeller Group brought the property to market, with CBRE's Todd Witty and Daniel Close having overseen leasing before CBRE's Jeremy Ballenger and Tyler Carner stepped in to represent the seller on the sale itself.
Grey Wolf Architecture designed the campus, and Golden Triangle Construction built it, the same REBusinessOnline report notes. The project was financed in part by a $46.2 million construction loan from New York Life Insurance Co. issued in 2024, with a maturity date set for 2027, according to Commercial Property Executive.
A Denver Industrial Market Still Finding Its Footing
The sale lands in a Denver industrial market that is showing mixed signals. Industrial sales volume citywide climbed to $364.7 million in the third quarter, up 80.5% year over year even as it slipped 6.3% from the prior quarter, per the same Commercial Property Executive report. Vacancy, meanwhile, held at 7.8% in the second quarter of 2026 — down 30 basis points from a year earlier but still elevated, according to a market report from WareCRE.
Construction hasn't slowed to match. Denver had more than 4.2 million square feet of industrial space under construction at the end of the second quarter, the WareCRE report states, with the North submarket — where 25 Commerce Park sits — carrying 743,332 square feet of that pipeline. Rockefeller Group describes the area as one of the region's fastest-growing industrial submarkets on its own development page.
How the Deal Stacks Up
Other recent Denver-area industrial trades offer some context for pricing, even without a confirmed per-square-foot figure for 25 Commerce Park. The 13-building Park Industrial portfolio, totaling 466,300 square feet, sold for $71.5 million, or $154 per square foot, in the second quarter of 2026, the WareCRE report notes. Verve Commerce Center Buildings 1 and 2, spanning 284,000 square feet, fetched $64.7 million, or $228 per square foot, in the same quarter.
EastGroup's appetite for Denver industrial product doesn't appear to have stopped with 25 Commerce Park. The real estate investment trust also closed on three business-distribution buildings in the North Denver submarket for approximately $95 million, according to a PR Newswire release detailing EastGroup's third-quarter 2026 results.
