Property Location: 2190 W. Bates Ave, Units 1 & 2, Englewood
Property Description: 19,248-sf (two-level) warehouse, YOC 1975, masonry (renovated in 1995)
Land Size: 21,043 sf
Sales Price: $1.95M, or $101.31 psf
Reception No.: D8098646
Closing Date: 10-2
Grantor: Delkevic US LLC (Janielle Myers, signatory)
Grantee: Mad Dragon Properties LLC (Matthew Ellis, mgr.), 720-306-9164
Financing: $1.46M @ 5.1% payable to FirstBank, due in 15 years
Comments: This property was listed by Paul Kahn & Matt Emmons of NAI Shames Makovsky. The upper level has 6,768 sf of warehouse space, 2,112 sf of office space, two dock-high doors & one drive-in door; the lower level has 7,038 sf of warehouse space, a 3,330-sf showroom space and one drive-in door. Quoted lease rate was $7.25-$8.25 psf and listed sales price was $1.99M. The buyer, Extraction Tek Solutions will relocate from 2751 W. Oxford Ave., Unit 4, to this building. This property last sold for $1.54M, or $80.22 psf, in July 2015, reflecting a growth rate of approximately 26.3% for the three years and three months.
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.