Colorado-Real-Estate-Journal_375567

Page 12 - December 6-19, 2023 www.crej.com Industrial Building business success through expert commercial real estate solutions. Get in Touch | 719-598-3000 | olivereg.com Commercial Brokerage | Development Services Property and Association Management Services by Avalon Jacka AURORA – A 101,406-square- foot warehouse/distribution cen- ter in the airport submarket has traded hands for $10.9 million. Crosse Partners acquiredMon- crieff Business Center, located at 14603 E. Moncrieff Place, from an affiliate of Zurich Alternative Asset Management. CBRE’s Jeremy Ballenger, Tyler Carner, Jessica Ostermick and Jim Bolt represented the seller. Ryan Fer- ris with Colliers represented the buyer. Moncrieff Business Center’s location along the Union Pacific rail line in the airport submarket drove significant interest, accord- ing to the CBRE team. The “high- ly functional” infill property, built in 1984, features amenities like an ESFR fire protection system, fenced outdoor storage, ample parking, oversized drive-in doors and doors accessible to the rail line. The property offers immedi- ate access to Interstates 70 and 225. The asset was fully leased at the time of sale. “Industrial spaces like Mon- crieff Business Center are hard to come by,” said Ballenger. “The property is accessible by both interstate and rail and is located in Denver’s most-desirable submar- ket for distribution needs. The building has been fully leased for years and will continue to be an attractive option for tenants look- ing for functional high-quality distribution and manufacturing space.” The airport submarket has recorded 29 years of consecutive positive annual net absorption, according to CBRE. The firm’s research found the submarket performed the best across all pri- marymetrics in the Denver metro area in third-quarter 2023, com- prising 48% of all leasing activ- ity and 73% of all positive net absorption. s Crosse Partners buys Moncrieff Business Center for $10.9M by Avalon Jacka COMMERCECITY–ADenver- based real estate investment and development firm acquired a fully occupied industrial asset off Colo- rado Highway 2 for $8.3 million. ZS Capital Partners, in part- nership with Chicago-based GEM Realty Capital, purchased an 11.25-acresitewitha60,000-square- foot “highly functional” industrial building at 9152 Yosemite St. The facility is fully leased to Birko Corp., a food safety and sanita- tion business that has occupied the building since it was first con- structed in 1992. Situated in a sup- ply constrained area in the Com- merce City industrial submarket, the property is zoned I-3, which is the heaviest industrial zoning available in Commerce City. The property was sold by Ward Realty Corp., according toAdams County public records. T.J. Smith and Nick Rice at Colliers repre- sented the seller, while ZS Capital did not have a broker in the trans- action. “Our acquisition of 9152 Yosem- ite St. is a testament to our com- mitment to uncovering off-market opportunities, especially in such a challenging transaction envi- ronment,” said Derek Conn, co-founder of ZS Capital Part- ners. “Though not unaffected by the macroeconomic trends, ZS believes the industrial market remains a bright spot inCRE.With favorable zoning and proximity to a major interstate, the property is well prepared for future expan- sion and adaptation.” The purchase marks ZS Capital Partners’ third acquisition since the group was formed in 2022 by Conn and co-founder Spencer ZS Capital Partners makes 1st industrial property acquisition Virtuance The 101,406-square-foot Moncrieff Business Center saw significant interest during the marketing process due to its proximity to the Union Pacific rail line. Please see ZS Capital, Page 43 The 11.25-acre site at 9152 Yosemite St. includes a 60,000-square-foot industrial building that is fully leased to food safety company Birko Corp.