Glendale site sells for $3.7M for self-storage facility

Arapahoe County

Property Location: SEC South Birch Street & Leetsdale Drive (320 S. Birch St.), Glendale

Property Description: 4,564-sf building to be removed (land value)

Land Size: 2.06 acres

Sales Price: $3.7M, or $41.15 per sf

Reception No.: D6073774

Closing Date: 7/11

Grantor: 320 S. Birch LLC, Katherine L. Cersonsky Ellman, mgr., Steven Gross Trust, Birch Investors LLC, Jeffrey Cohen, mgr., & Jack D. Feuer

Grantee: Leetsdale & Birch LLC c/o Edgemark Development LLC, 303-571-4650,

Richard M. Sapkin & Brad A. McNealy

Financing: $11.09M payable to Guaranty Bank & Trust

Comments: The buyer is in the process of replatting the site into three parcels. The first parcel will be developed into a 4-story, 90,000-sf self-storage facility containing 700 units. The second parcel will be used as a parking lot while the third site containing 32,000 sf is listed for sale at $1.5M, or $46.88 per sf. It is also for lease (ground lease) at $120,000 per year triple net. The property is listed with Emily Klimas, 303-370-7475, of SullivanHayes Brokerage.

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.