Colorado-Real-Estate-Journal_435995

Page 12 - December 18-31, 2024 www.crej.com Industrial by Avalon Jacka DENVER – A national inves- tor and manager of indus- trial outdoor storage facilities acquired its 10th Denver metro area property. Industrial Outdoor Ven- tures acquired the property at 3750 Nome St. from Box Land LLC for $5.68 million in November, according to SKLD Information Services. The 4.94- acre property includes approx- imately 31,000 square feet of warehouse and office space. “We are thrilled to expand the Denver portfolio with Nome,” said Ben Backer, IOV acquisition officer – Western region. “The location within the airport central submarket is critical for last-mile users. Our conviction in Denver as an IOS market remains high given the strength and variety of tenants in the market looking for out- door storage.” The property features a 24,000-sf warehouse with 22-foot clear height, two drive- in doors and four dock-high doors, and a 7,000-sf stand- alone office building with additional storage and a pri- vate garage. The asset was built in 1973, according to Den- ver County public records. The buildings are currently vacant and being marketed for lease. Sam Dragan and Mike Camp of CBRE facilitated the sale on behalf of both the buyer and seller and are the leasing agents for the property. The asset is positioned less than 2 miles from the inter- change of Interstates 70 and 225. The freeway access will benefit users looking for con- nectivity to the greater Denver metro area, providing prox- imity to Interstate 25, Den- ver International Airport and downtown. The acquisition brings IOV’s Denver area portfolio to more than 260,000 sf and 125 acres. The firm’s additional Colorado properties include 2550 Laredo St., 18000 E. 22nd Ave. and 18151-18321 E. Sixth Ave. in Aurora; 8780 E. 93rd Place, 9180 Boston St. and 10600 Havana St. in Commerce City; and 500 E. 62nd Ave., 4343 Holly St. and 4780 Vasquez Blvd. in Denver. Founded in 2016, IOV is a leading national owner of low-coverage industrial prop- erty, making investments in high-barrier-to-entry markets across the U.S. the firm’s port- folio includes 79 assets totaling 2.29 million sf in 18 markets spanning coast to coast. The company currently owns and manages more than $970 mil- lion in assets, with a goal to add another $350 million in the next year. Headquartered in Rosemont, Illinois, IOV also has a Western Region office in Greenwood Village. Other News n METRO DENVER – Gru- ber Commercial Real Estate Inc. brokered four industrial deals in the Denver metro area in November. Gruber Commercial’s Steve Fletcher represented Hyalite Creek Properties LLC in its pur- chase of 1833- 1841 Wad- sworth Blvd. in Lakewood. The sale price for the prop- erty was $2.33 million. The 1-acre office/warehouse prop- erty includes two buildings totaling 16,342 square feet and ample parking. Jim Erpelding with Re/Max Professionals represented the seller, which was listed as PDJO LLC on Jef- ferson County public records. Gruber Commercial’s Russell Gruber facilitated the $3.5 mil- lion sale of 1339 Osage St. and 1520 W. 14th Ave. in Den- ver, totaling 16,332 sf on a 1-acre site. The Osage Street property was built in 1948, while the 14th Avenue property’s construc- tion date was unlisted on Den- ver County public records. HLD1339 LLC, an owner-user, acquired the property from DTCB Inc. Gruber brokered a lease for a 7,200-sf warehouse with a yard at 1350 Shoshone St. in Denver. Lonestar Logos leased the space from landlord 13th Holdings LLC. There was no outside broker on the deal. Gruber Commercial’s Fletch- er and Gruber represented the seller of 4420 Race St. in Den- ver, a 6,000-sf industrial build- ing with a large, fenced yard. The building was constructed in 1962, according to Denver County public records. Race & York RLLP sold the property to LPC Shop LLC for $860,000. The buyer was represented by Tyler Bray of Cushman & Wake- field. n WESTMINSTER – A 12,160-sf automotive care facil- ity in south Westminster sold for $2.1 million. EF Investments LLC acquired the property from Clifford and Jill Hartman in November. The property, situated on an acre at 7110 Lowell Blvd., is currently home to All Around Auto Care. Jason Russ, Travis Wange r and Alex Scott of Fuller Real Estate LLC represented the seller. R.C. Myles, Craig Myles and Joe Owston of Pinnacle Real Estate Advisors LLC rep- resented the buyer. The buyer is an investor that had a relationship with the existing tenant, which will remain in the building. The buyer does not have plans for updates to the “very function- al” building, Craig Myles said. n METRO DENVER – SVN | Denver Commercial recently brokered two industrial trans- actions in the Denver metro area. In Commerce City, UHC LLC sold a 9,600-square-foot indus- trial warehouse at 4971 Mona- co St. to CNG Investments LLC for $1.79 million in October, according to Adams County public records. SVN’s Cobey Wess and Wesley Perry repre- sented the seller. Cagri Gunay- din with Lokation Real Estate represented the buyer. The property attracted multiple offers, leading to an above- asking final sale price and highlighting the high demand for industrial properties in the area. The seller, which does busi- ness as Ultimate Heating and Cooling, is refocusing the busi- ness toward residential proj- ects and no longer needed a large warehouse. The company relocated to 4321 Broadway in Denver, which is a more effi- cient and visible location for its changing business needs. Wess and Perry also assisted in the relocation. UHC’s Carrie Ladd said the SVN team was “effi- cient from the start, not only helping to sell our building on Monaco Street but also helping to find a new location that fit our needs for our future.” The buyer was attracted to the property due to its strate- gic location, a secure storage yard, and significant potential for future growth. The buyer opted for an all-cash deal, facil- itating a quick close. In Lakewood, Clean Designs Inc. sold an 8,051-sf industrial property at 2800 S. Oak St. to Elevated Paving Inc. for $2.5 million in August. SVN’s Jeff Heine and Corey Murray rep- resented the buyer. Matthew Harper of Madison Commer- cial Properties represented the seller. The SVN team identified and negotiated the deal for the “rare” west side industrial space with a fenced yard, a statement from the firm said. The buyer, an owner-user that will operate its business on the property, was able to secure Small Business Administration financing for the deal. s IOV acquires 10th Denver metro area IOS property for $5.7M IOV The industrial outdoor storage property at 3750 Nome St. features a 24,000-square-foot warehouse and a 7,000- sf stand-alone office Russell Gruber Steve Fletcher The new tenants include an international food production company that leased all of the 176,000-sf Building 3; the tenant, represented by Chris Boston and Kegan McNutt of Gibbons-White Inc., will use the distribution space for manufacturing and stor- age of various food products. Building 2 is fully leased by the other two new tenants; an audiovisual equipment supplier leased 121,704 sf to expand its current space, and a manufacturer of breath- ing technology and filtration products leased 24,596 sf. “Rockefeller Group is pleased to welcome our first tenants to 25 Commerce,” said Matt Bruns, Rockefeller Group senior associate. “The project provides the food production company a large manufacturing facility that will help it to expand its pres- ence throughout the country and allows for the two local tenants to expand as well while remaining in the Den- ver metro area.” Todd Witty and Daniel Close of CBRE represented Rockefeller Group on the prelease transactions with the undisclosed tenants and are currently marketing the distribution park’s remain- ing space. The park has one 131,250-sf building available for lease with frontage on Grant Street. Witty said, “25 Commerce Park project has tremendous leasing momentum as we finalize construction later this year. In today’s leasing envi- ronment, it’s almost unheard of to lease over 70% of a proj- ect before the construction is complete. It’s truly a testa- ment to the quality of the proj- ect that Rockefeller Group has constructed and the demand for warehousing in the north metro area.” The property provides quick access to Interstate 25 and Northwest Parkway, allow- ing for a 17-minute drive to downtown Denver and 20-minute drive to Boulder. The asset is located in a Colo- rado enterprise zone, offering a business-friendly environ- ment with state income tax credits. “I’m excited to welcome these three tenants to our Thornton business commu- nity at 25 Commerce Park,” said Thornton Mayor Jan Kulmann. “Their addition to Thornton will enhance and create new job opportunities for our residents, providing another excellent place to work right here in Thornton.” Rockefeller Group develops, owns and operates proper- ties across the U.S., with its portfolio of office, multifam- ily, industrial and mixed-use projects across six geographic regions, as well as 6 million sf of world-class office space in Manhattan, New York. s CBRE Continued from Page 1