Arapahoe County
Property Location: 2500 S. Raritan St., Englewood
Property Description: 9,800-sf warehouse, YOC 1976, metal construction
Land Size: 29,773 sf
Sales Price: $1.2M, or $122.45 psf
Reception No.: D6129528
Closing Date: 10/27
Grantor: GCJ2 Co., Galen Achten & Jon Hanson, general partners, 303-975-1772
Grantee: LLW LLC, c/o Lawrence Sign, Robb Walker, CEO, St. Paul, MN 55104
Financing: $960,000 due 10-31-21, payable to Drake Bank, St. Paul, MN
Comments: The seller is the owner of Advantage Sign Company, www.advantagesigncompany.com. The buyer is Walker Sign Company, based in St. Paul, MN, www.lawrencesign.com, 651-488-6711. A press release on 11-2-16 indicated Walker Sign Holdings acquired the seller’s company and included the building. It is assumed the bank required a certified general appraiser to complete the appraisal for the bank and the loan is 80% of the sales price. Without confirmation, the sales price of $122.45 per square foot falls within the range of typical industrial buildings in the south Denver/Englewood area while the loan to value for this type of building ranges from 70 to 80%.
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.
