Denver, Adams & Jefferson counties
Address or Location: 1) 2475 W. 2nd Avenue (Denver County), “Bryant Street Quad”; 2) 6400 Broadway, Denver (Adams County); 3) 16600 Table Mountain Pkwy., Golden (Jefferson County)
Improvements: 1) 152,890-sf warehouse, YOC 1971, twin-tee construction; 2) 70,141-sf warehouse, YOC 1984, twin-tee construction; 3) 261,825-sf warehouse, YOC 1997, concrete panel
Land Size: 1) 7.118 acres 2) 4.51 acres 3) 13.704 acres
Date of Recording: 12/28
Reception No.: 1) 2017169188; 2) 2017000114168; 3) 2017132749
Price: 1) $15.25M, or $99.75 psf; 2) $8.75M or $124.75 psf; 3) $27.5M or $105 psf
(total: $51.5M, or $103.22 psf)
Grantor: 2475 W. 2nd Avenue Investors LLC c/o TPF Equity REIT, Brian J. Cosentino, director, UBS Realty Investors, 860-616-9000
Grantee: NR Denver Industrial Portfolio LLC, TH Real Estate, John Cornuke, mgr.,
949-809-2607, Newport Beach, CA 92660
Financing: Cash
Comments: This portfolio was introduced to the Denver market in September 2013, selling for $29.09M, or $60.01 per square foot. Two years later, the growth of this property escalated to $37.5M, or $77.34 per square foot, when UBS Realty Advisors acquired this property. The final sales price reflected a real increase in value of 1.063% per month, or 28.88%, increase. With the market increasing so fast in rental rates and market values, UBS Realty Advisors sold the property to TH Real Estate for an increase of value of 37.33% in slightly less than 26 months. This averaged a monthly growth rate of 1.23% for the seller. Overall, the property has appreciated 1.148% per month in value since September 2013.
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.
