Centennial Industrial Park Becomes Part of Matrix Group Portfolio

Matrix Group purchased Cherry Creek Industrial Park, a multitenant industrial/flex building located just off of East Arapahoe Road between I-25 and Parker Road in Centennial, Colorado. The building was purchased for $2.8MM and Matrix Group intends to complete exterior renovations and new building signage to improve the visual appeal of the property. The building will also be renamed to Centennial Industrial Park.

This property was 100% occupied at the time of the purchase, however in-place rental rates are far below market. Matrix Group plans to bring rental rates up to market because of the highly competitive, low-vacancy industrial sector taking place in the Denver metro area.