Denver County
Property Location: 4230 Elati St., Denver
Property Description: 16,932-sf manufacturing building, YOC 1973
Land Size: 35,801 sf
Sales Price: $3.05M, or $180.13 psf
Reception No.: 2018101374
Closing Date:8/9
Grantor: KBD Investments LLC (Nicole Kazenske & Anne Marie Dienstbach)
Grantee: Herrick Durango Land Co. (Edward D. Herrick Jr., mgr.)
Financing: $1.83M to Community Banks of Colorado
Comments: Listed and sold by Russell Gruber of Gruber Real Estate.
Property Location: 781-785 Vallejo St., Denver
Property Description: 10,800-sf warehouse with three 10-by-10-foot drive-in doors, YOC 1961, masonry construction, 3-phase/220V 750AMP
Land Size: 40,020 sf
Sales Price: $1.12M, or $103.24 psf
Reception No.: 2018104602
Closing Date: 8/17
Grantor: Steven H. Davis & Janise B. Davis
Grantee: 781-785 Vallejo LLC (Chad Kennedy, mgr.), 303-885-7322
Financing: $760,000 payable to Collegiate Peaks Bank, due 8-17-2023
Comments: Listed by Tom Kaufman, 303-504-3435, of Re/Max, this three-tenant building contains 5,400 sf @ $7.35 psf, Artemis Vision LLC; 3,250 sf @ $4.36 psf with Black Eagle Engineering as the tenant. Both leases expire October 2021, and 2,150 sf with rents at $5.10 psf expires in less than one year, with Savoy Color Imaging as the tenant. This sold on a 6.7% in-place cap rate. Building expenses are estimated at $1.90 psf.
Property Location: 5095 Peoria St., Denver
Property Description: 22,459-sf warehouse, YOC 1981, concrete tilt-up
Land Size: 1.20 acres
Sales Price: $2.53M, or $112.43 psf
Reception No.: 2018104588
Closing Date: 8/17
Grantor: The Orville Group LLC (Bret James Kaup, mgr.)
Grantee: JT4 Properties LLC (Michael A. Treash, mbr.)
Financing: $2.24M payable to Wells Fargo Bank NA, SBA loan due 8-17-43; second deed of trust of $80,000 payable to Orville Group (Bret Kaup, mgr.), due 8-9-21
Comments: Listed by Drew McManus, SIOR 303-813-6427, Mike Viehmann & Bryan Fry of Cushman & Wakefield, the building has one drive-in door (10’ x 14’) and two dock-high doors, 22’ clear height, includes 2,000-sf warehouse space. Lease rate quoted at $8 psf NNN. The buyer’s company, Health Alliance Plan, based out of Michigan, will occupy the building.
Property Location: 2080 W. Barberry Place, Denver
Property Description: 8,000-sf warehouse building, YOC 1979, masonry
Land Size: 12,500 sf
Sales Price: $1.27M, or $158.13 psf
Reception No.: 2018104402
Closing Date: 8/17
Grantor: Kut Kut Holding Group LLC (Walid Mortada, mgr.)
Grantee: Lucky Fortune Cookies RE LLC (Kevin Chan, mgr.), 303-623-0977
Financing: $643,301 payable to FirstBank @ 5.4% due 8/1/28 & $448,311 payable to FirstBank, due 2/1/19 @ 6%.
Comments: Listed and sold by Broad Street Realty, Melissa Nochlin, VP, 219-433-5128. This is a two-tenant building with 4,000 sf each side. There are two 8’x10’ dock-high doors and four 8’x10’ drive-in doors.
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.
