Austin investor buys 724 ministorage units in Denver area for $9.6M

Arapahoe & Adams counties

Property Location: 443 Laredo St., Aurora; 7273 Kearney/6345 E. 78th Ave., Commerce City, “Best Bargain Storage”

Property Description: 323 units & 42,650 sf ministorage, YOC 1984, brick construction, & 401 units & 60,140 sf

Land Size: 7.15 acres

Sales Price: $9.9M, or $96.06 psf

Reception No.: D7062399 (Arapahoe) & 47826 (Adams)

Grantor: Business Property Trust LLC, Barry P. Raber, mgr., et al.

Grantee: GVS Colorado Holdings I LLC, Natin Paul, pres.

Closing Date: 6/1

Financing: $8.18M payable to C-III Commercial Mortgage LLC Irving, TX*

Comments: *Loan is blanket mortgage and also encumbers 7271 Kearney St. & 6345 E. 78th Ave. in Commerce City.  Buyer is president and CEO of World Class Holdings. Aurora property sold for $4.9M and Commerce City Colorado sold for $5 million. This property was sold by Argus Self-Storage Sales Network, Joan Lucas & Ben Vestal.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.