A manufacturer of plastic bottles and packaging sold its Denver manufacturing facility for $8.33 million in a highly competitive leaseback deal.
Amcor Rigid Plastics USA LLC sold the rail-served property at 4990 Ironton St. in Denver to Realty Income Properties 19 LLC. The buyer is an affiliate of Realty Income, a national real estate investment trust that seeks out net-leased investments.
Amcor signed a long-term lease with the new owner.
The Amcor site consists of 146,860 square feet, including warehouse, production and office space, on 11 acres. The facility originally was built in 1969 and has been in operation, by various entities, ever since. It was expanded in 2002.
Investor activity surrounding the asset was “tremendous,” according to Greg Kloiber of Michigan-based Top Gun Advisors. Kloiber and David Stechly, also of Top Gun Advisors, represented Amcor in the transaction.
“The property was highly sought after by a number of investors,” Kloiber said. “It was a very desirable property, and Amcor was a very desirable tenant. It really was a great project for Dave and I to work on because a lot of people wanted to be in Denver, and a lot of people liked the Amcor credit.”
According to the offering memorandum, Amcor Rigid Plastics has 26 employees at the facility, which serves multiple food and beverage customers in the Western and Central regions. The company is one of the world’s largest producers of polyethylene terephthalate, or PET, packaging and containers incorporating other plastic resins.
