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Denver investor facilitates 1031 exchange for central Denver warehouse

Denver County

Property Location: 505 & 525 Bryant St., Denver

Property Description: 6,000-sf brick warehouse, YOC 1962, & 5,200-sf brick warehouse, YOC 1961, total of 11,200 sf

Land Size: 23,225 sf

Sales Price: $1.32M, or $117.41 psf

Reception No.: 2018060412

Closing Date: 5/21

Grantor: CG Holdings of Colorado LLC, Kelly Letts, signatory

Grantee: 1316 Quitman Street LLC, Donald Gary Parker, mgr.

Financing: $300,000 due 2/20/2019 payable to ABW REO’s LLC

Comments: This property was listed by Nick Schill of Pinnacle Real Estate Advisors LLC. The property has been leased to medical and retail marijuana growers for $9.70 psf modified gross. The buyer sold and facilitated a 1031 exchange of 1330 Quitman for 505 & 525 Bryant St. It was represented by Unique Properties.

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.