Englewood warehouse sells for $1.95 million

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Arapahoe County

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

United Properties August 2018 300 x 250 Banner

Reception No.: D8098646

Closing Date: 10-2

Grantor: Delkevic US LLC (Janielle Myers, signatory)

MPQ 1Q 2019 Banner 300 x 250

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.

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