California clothier acquires vacant industrial building for under $76 per sf

Denver County

Property Location: 5301 E. 39^th Ave., Denver

Property Description: 51,410-sf industrial building, YOC 1958, includes 2,480-sf finished office area & 18,715-sf fenced storage yard, brick & concrete block construction, four dock-high & one drive-in door, sprinkled, 15’ to 18’ clear height

Land Size: 1.88 acres, zoned I-A

Sales Price: $3.9M, or $75.86 psf

Reception No.: 2016136758

Closing Date: 10/3

Grantor: Colorado Blvd. Holdings LLC, Nick Stuben, mgr.

Grantee: Jerry & Orit Kohen Living Trust, 2834 E. 48^th St., Vernon, CA 90058

Financing: $2.9M payable to ZB, NA, dba California Bank & Trust

Comments: The listing broker was Brandon Basham of Basham & Associates, 303-550-5133. The property is on the northeast corner of Forest St. & E. 39^th Ave. Space formerly was occupied by Safeway. See APN: 01194-00-042. Byron Johnson of NAI Shames Makovsky, 303-565-3020, represented the buyer. The buyer will use the building for its clothing business. The buyer was leasing space in a building on Brighton Blvd that was owned by Evan Makovsky, and the buyer wanted to own its own building.

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.