Adams County
Property Location: 8651 Grant St., Thornton
Property Description: 16,631-sf, two-story retail building, YOC 2002, masonry
Land Size: 45,833 sf
Sales Price: $1.85M, or $111.24 per sf
Reception No.: 2016000092558
Closing Date: 10/28
Grantor: D and D Holdings LLC, Ryan Boykin, mgr.
Grantee: Moreland Arizona Properties LLC, Doug Moreland, mgr.
Comments: The property is the Tool Zone and was listed by Ray Rasado, CCIM, 720-209-5546, Cushman & Wakefield. The Tool Zone occupies 10,883 sf and Inspire Talent occupies 5,798 sf on the second floor. The projected 2017 net operating income is $187,661, reflecting an in-place cap rate of 10.14%. The estimated expenses for 2016 are $3.13 per square foot. Mark Von Engeln represented Moreland in the transaction, 303-888-0863.
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.
