Hyde Development and Mortenson Properties acquire three state-of-the-art properties from Westcore in Utah and Colorado
Utah and Colorado – September 24, 2025 – Cushman & Wakefield and CBRE announced today that the real estate services firms have jointly facilitated the sale of The Raceway Commerce Center in West Valley City, UT, and Potomac Park I & II in Englewood, CO. These two industrial properties are part of the National Core Industrial Portfolio, a multi-state industrial portfolio spanning 2.4 million square feet across eight assets in six states.
The seller, Westcore, is a leading industrial real estate investment firm. Hyde Development, in partnership with Mortenson Properties, acquired the portfolio to expand their footprint in key Western markets.
Cushman & Wakefield’s National Industrial Advisory Group – Mountain West, including Jeff Chiate, Will Strong, Michael Matchett, Phillip Eilers and John Schreck, alongside CBRE’s National Partners team led by Joe Cesta, Tyler Carner and Jeremy Ballenger, represented the seller and procured the buyer.
"This transaction underscores the growing demand for strategically located industrial assets in dynamic markets," said Chiate. "Hyde Development and Mortenson's acquisition highlights the importance of innovation and adaptability in real estate investment, as businesses continue to prioritize operational efficiency and supply chain resilience in an evolving economic landscape."
“The industrial real estate markets in Denver and Salt Lake City are flourishing, fueled by robust investor demand for premium, strategically located industrial properties across the Mountain West. With prime logistics hubs, limited land availability and dynamic economic growth, these cities are magnets for capital investment,” added Cesta.
The Raceway Commerce Center, located at 6075 West SR-201 Frontage Road and 2234 South 5900 West in West Valley City, features a total rentable area of 397,894 square feet. The property boasts modern amenities such as 32-foot clear heights, expansive truck courts and LED lighting. Its strategic location offers immediate access to the 201 freeway and Mountain View Corridor, with proximity to Salt Lake City International Airport.
Potomac Park I & II, situated at 7955 and 7901 South Potomac Street in Englewood, are Class A industrial buildings with features including 28' to 30' clear heights, dock-high and drive-in loading and ESFR fire sprinkling. The properties benefit from immediate access to major highways such as Interstate 25 and E-470 and are close to Centennial Airport, making them highly accessible for logistics and distribution operations
Cushman & Wakefield and CBRE Co-Broker Sale of Class A Industrial Properties in Utah and Colorado
Jayden Lapin • 9/25/2025
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.