Complex 1031 reverse exchange yields $3.7 million Aurora building

537
537
Share this Article
Facebook Twitter LinkedIn Google Pinterest StumbleUpon Email

Arapahoe County

Property Location: 10180 E. Colfax Ave., Aurora

Property Description: 56,281-sf multilevel commercial building, including 26,504-sf showroom area, 14,994-sf retail/mezzanine area and 14,783-sf unfinished area on the third and fourth levels, YOC 1952, renovated 2016

Land Size: 44,983 sf

Sales Price: $3.7M, or $4.47 psf

Reception No.: D8069620

Closing Date: 7/12

Grantor: 10180 E. Colfax LLC (Brian Watson, mgr.)

Grantee: The Mango House, P.J. Parmar, CEO, 303-900-8639

Financing: $2.29M payable to Mountain View Bank; 2nddeed of trust in the amount of $1.4M payable to seller, due in 3 years

Comments: Jaime Jones Vantsa is director of acquisitions and dispositions for Northstar Commercial Partners Inc. Dustin Jones of EFS represented the buyer, 303-550-8500 or 720-897-6607. Buyer has facilitated a reverse 1031 exchange for the building at 1532 Galena St., which is scheduled to close at the end of August. Highline Properties 1918 LLC (Jeff King), based out of Longmont, acted as the intermediary for the buyer. The buyer, Mango House, has occupied 1532 Galena St. since 2014, when it purchased the 12,632-sf, two-story office building for $798,000. The buyer will relocate to 10180 E. Colfax Ave. subsequent to the closing on 1532 Galena St. Mango House helps refugees living in the Aurora area with medical, dental and educational services. Project Worthmore offers a variety of programs and services, including English language classes, citizenship classes, a community-run food access program, a refugee training farm, dental clinic and access to community and family partners.

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.

In this article