Clarion Partners has agreed to buy a portfolio of high-quality distribution warehouses from Pauls Corp. for about $345 million.

Denver-based Pauls marketed the 3.7 million-square-foot package via CBRE in two sub-portfolios: one encompassing stabilized properties with below-market rents in the Denver area, the other consisting of recently completed warehouses still in their initial lease-up phase, in the Las Vegas, Dallas and Atlanta markets.