It may be spearheading one of Denver's largest industrial developments, but the joint venture between Hyde Development and Mortenson Properties is expanding its regional stake even further with its latest purchase of a three-building warehouse portfolio.

The partnership dropped $73.5 million for the Peoria Business Center in the Denver International Airport area, according to brokerage CBRE and county property records. The deal is the latest addition to the Minneapolis-based development team's expanding Colorado footprint, which also includes ongoing work at its 5.5 million-square-foot High Point Elevated industrial and logistics park a short drive from its latest purchase.

Global investment manager Invesco was the seller in the deal for the buildings at 13100E. Albrook Drive and 12330 and 12360 E. 46th Ave., which collectively span about601,300 square feet and were 98% leased at the time of closing.

Read the full article from CoStar News.