ZS Capital Partners acquires Centennial Technology Center for $14.6 million

The Centennial Technology Center, a nearly 88,000-square-foot Class A small-bay industrial and R&D property in Centennial, has been acquired by ZS Capital Partners, a Denver-based real estate investment firm, for $14.6 million.

The transaction marks ZS’s ninth investment in Colorado and its largest acquisition since 2022.

“This acquisition is a strong reflection of our growth and disciplined investment strategy,” said Derek Conn, a founder of ZS Capital Partners.

“ZS continues to focus on high-quality, functional assets that offer both stability and opportunity for value creation. Centennial Technology Center aligns perfectly with that vision and demonstrates our continued confidence in Colorado’s small-bay industrial sector.”

On 7.66 acres at 7442 and 7472 S. Tucson Way, the property consists of two highly functional buildings featuring nine dock-high doors, 11 drive-in doors, wet sprinkler systems, 14-foot clear heights and a dual-loading configuration.

The Centennial Technology Center was built in 2000 and is currently 68% leased to a mix of health care and professional services businesses.

ZS plans to complete speculative improvements and exterior upgrades to reposition the remaining 27,923-square-foot vacancy and attract new tenants.

JLL Managing Director Larry Thiel, Senior Director Sean Whitney, senior managing directors Dave Lee and Jason Addlesperger and Vice President Philip Lee, handled the disposition of the property. The team will continue to represent ZS in leasing .

“CTC is one of the premier industrial and R&D projects in the Southeast Denver submarket,” Dave Lee of JLL said.

“The property offers exceptional flexibility, with units ranging from 5,506 to 27,923 square feet in a well-designed, easily accessible location. The new ownership is committed to delivering move-in-ready spec suites and brings deep experience in this product type.”