Colorado-Real-Estate-Journal_476911

Page 12 - August 20-September 2, 2025 www.crej.com Industrial by Avalon Jacka DENVER – A national real estate firm specializing in the development of cowarehous- ing and small-bay industrial spaces acquired a warehouse in the Park Hill neighborhood in an off-market transaction. WareSpace purchased the 129,000-square-foot indus- trial building at 5150 Colo- rado Blvd. from VHE II Colo LLC for $12.25 million in July, according to SKLD Informa- tion Services. The seller leased back the property with plans to vacate in the next couple months, according to Ware- Space CEO Levi Cohen. The buyer was attracted to the property due to its layout, amount of parking, size and accessibility from highways, Cohen said. Rich DeGirolamo and San- tiago Acevedo of Compass Real Estate facilitated the transaction, representing the seller and sourcing the buyer. The new location is expected to open in spring 2026, fol- lowing improvements. Once upgrades are completed, the asset will feature private ware- housing units ranging between 200 and 2,000 sf, each including climate control, 24/7 secure access, loading dock access, Wi-Fi, and access to kitch- en facilities and conference rooms. WareSpace offers all- inclusive pricing with flexible lease terms. The property fea- tures more than 40 dock-high doors. Positioned southeast of the Colorado Boulevard-East 52nd Avenue intersection, the property offers connectivity to the greater Denver metro area via Interstates 70 and 270. “This Park Hill property delivers everything we look for: excellent location, abun- dant dock access, and the infrastructure that small busi- nesses actually need,” said WareSpace Vice President of Acquisition Jeff Jenkins. “Securing it off market in Den- ver’s competitive industrial market shows the value of our broker relationships and our ability to move quickly on the right opportunities.” WareSpace provides cow- arehousing space to support small-business needs, serving e-commerce operators, con- tractors, light manufacturers, creative entrepreneurs, and more. “With over 40 dock doors and minutes from downtown, this Park Hill location gives small businesses the logistics infrastructure they need with the urban accessibility they want,” said WareSpace Chief Operating Officer Joseph Ely. “We’re excited to sup- port Denver’s entrepreneurial community with another facil- ity designed specifically for how small businesses actually operate.” Constructed in 1960, the building features more than 40 dock-high doors. Posi- tioned southeast of the Colo- rado Boulevard-East 52nd Avenue intersection, the prop- erty offers connectivity to the greater Denver metro area via Interstates 70 and 270. Cohen expects leasing at the Park Hill location to begin about two months prior to its official opening. The Park Hill site is Ware- Space’s second location in the Denver metro area, bringing its local footprint to 200,000 sf. The location complements the 71,000-sf WareSpace Centen- nial, located at 360 Inverness Drive South in Englewood. “Denver has one of the most dynamic small-business eco- systems in the country, and this Park Hill acquisition allows us to serve even more entrepreneurs who need pro- fessional warehouse space without the traditional indus- trial lease complexities,” said Cohen. “Park Hill’s central location and highway access make it perfect for businesses that need to move fast and stay connected to the entire metro area.” WareSpace has added addi- tional properties to its port- folio this year, including the Englewood location, as well as sites in Washington, D.C.; Charlotte, North Carolina; Salt Lake City; Phoenix; and Dal- las. The firm’s portfolio now includes more than 1.6 mil- lion sf of cowarehousing and small-bay industrial space across major U.S. markets. The vertically integrated firm offers all major service lines in-house, include acquisitions, development, construction, finance, operations, market- ing and sales. The company plans to continue expanding in the Denver metro market once its first two locations are stabilized to be able to serve as many small businesses as it can, Cohen said. Other News n COMMERCE CITY – A two-tenant industrial building sold for $2.7 million in an off- market transaction in July. Olive HQ LLC acquired the 31,140-square-foot building at 4955 Olive St. from Appleman LLC. Russell Gruber of Gruber Commercial Real Estate rep- resented the seller, and Jake Malman of Malman Real Estate represented the buyer. The buyer, affiliated with Auto Glass Express, was a ten- ant and currently occupies half of the building. The other half is occupied by MacGregor’s Garden. The asset offers con- nectivity to the greater Denver metro area via Interstates 70 and 270 via Quebec Street. In July, Gruber also bro- kered a five-year lease renew- al on behalf of tenant Break- ers Unlimited and landlord Armos Group for a 14,000-sf industrial building at 2265 E. 74th Ave. in Denver. n DENVER – A pair of indus- trial outdoor storage sites sold in an off-market transaction for a total of $3.99 million in July. Adams County Fire Pro- tection District acquired the adjacent properties at 909 E. 68th Ave. and 6851 Downing St., totaling 3.3 acres, from AJI II RLLP. Mark Goodman of Goodman Commercial Real Estate rep- resented the seller, while Tanner Digby of Digby C o m m e r c i a l Advisors rep- resented the buyer. The site was attractive to Adams Coun- ty Fire Protec- tion District due to its proximity to another train- ing and main- tenance facility, located at 899 E. 68th Ave., as well as the ability to utilize the low-cover- age land for outdoor storage, Digby said. There are several small buildings on the 68th Avenue property totaling 3,625 sf, as well as 2.31 acres of land at the Downing site, per LoopNet. The buyer was most interested in the large industrial land, which will be used as addi- tional outdoor storage for its needs, Digby said. The buyer will develop the site as need- ed. n DENVER – An industrial property near the Art District on Santa Fe traded hands for $1.86 million in an all-cash transaction in July. Bear & Stringer LLC acquired the 9,068-sf property on 0.43 acres at 717 Lipan St. from 717 Lipan Street LLC. Brian Baker of Fuller Real Estate represented the seller, while the buyer did not have a representa- tive. The asset was construct- ed in 2000 and features office and reception space, a wet sprinkler sys- tem, about 2,000 sf of freezer and refrigerator storage, two dock-high doors, two grade- level doors, 18-foot clear height, heavy power and I-A zoning, according to a mar- keting brochure. The property is easily accessed via Eighth Avenue and Kalamath Street. The seller, affiliated with James Kantsaros, built the property and operated its business, Economy Greek Foods, there for more than two decades. The buyer enti- ty is affiliated with Buntport Theater, a long-term tenant of the property that will expand into the additional space pre- viously occupied by Economy Greek Foods. s WareSpace buys building for cowarehousing platform Once upgrades are completed, the warehouse building at 5150 Colorado Blvd. will feature private warehousing units ranging between 200 and 2,000 square feet, each including climate control, 24/7 secure access, loading dock access, Wi-Fi, and access to kitchen facilities and conference rooms. Russell Gruber Jake Malman Tanner Digby Mark Goodman Brian Baker