A rail-served industrial property in Commerce City changed hands at $5.1 million.
Denver-based Flywheel Capital purchased the Intsel Steel West building at 6300 Clermont St. from McCallin Real Estate LLC. The 4.39-acre site includes a 59,638-square-foot warehouse with 2,492 sf of office space, plus a 5,306-sf freestanding office building.
The property offers a compelling mix of Industrial 3 zoning, ample yard space, Burlington Northern rail access and crane capacity that is appealing to a range of heavy users, Flywheel Associate Director Sam Makings said in an e-mail. Although Intsel relocated to a new campus in Commerce City, an in-place lease provides strong current cash flow, he said, adding Flywheel intends to strategically improve the property and re-let the space upon expiration of the existing term.
CBRE brokers Tyler Carner, Jim Bolt and Mike Camp represented the seller in the transaction. Daniel Close of CBRE represented the buyer.
The Clermont building has 20- to 24-foot clearance in the warehouse, along with five 10-ton overhead cranes, and oversized drive-in doors.
Flywheel Capital is a privately held real estate investment company with a focus on creating value by sourcing and managing a balance of value-add and stabilized real estate assets. The company’s strategy lies in opportunistic or hidden-value assets that have long-term upside, are in a good location and have solid current cash flow.