A Chicago company that invests in outdoor storage facilities has acquired approximately 30 acres in Commerce City for $11.56 million.
Industrial Outdoor Ventures bought 21.32 acres at 10600 Havana St. and 11.88 acres at 8780 E. 93rd Place. Both sites have heavy industrial zoning and will be developed with an emphasis on outdoor storage.
Newmark Knight Frank’s Mike Viehmann, Mike Wafer and Mike Wafer Jr. represented Industrial Outdoor Ventures in the transactions and are providing leasing and marketing services for the properties.
Mike Viehmann
“We are excited to announce, and be involved with, IOV’s land acquisitions,” said NKF Associate Director Viehmann, the lead broker for the transactions. “IOV and NKF recognized the scarcity of land and existing product in metro Denver zoned for outdoor storage and heavy industrial uses, and identified these two sites as great speculative and build-to-suit development opportunities for users seeking this product type.”
The property at 10600 Havana, zoned I-2, offers frontage and visibility along Interstate 76 and has major site work and utilities in place, allowing for a timely development schedule. Available for lease or build-to-suit and located 15 minutes from downtown Denver and Denver International Airport, the site can accommodate a new building from 25,000 to 100,000 square feet with 5 to 15 acres of yard space.
Russell Gruber
Russell Gruber of Gruber Commercial Real Estate Services represented the seller, Rocky Crest Enterprises LLC. Rocky Crest sold the site for $7.56 per sf.
Gruber said the property was presented to three different buyers, all of which made offers. “IOV saw the value that Rocky Crest had created there and was able to capitalize on it and move quickly,” he said.
IOV will break ground in summer on a speculative building at 8780 E. 93rd Place, which sold for $7.73 per sf. The current plan outlines a 32,000-sf building that will allow up to 9 acres of yard space for lease and be available for one or two tenants. Located within the established Marty Farms Industrial Park, the site is suited to trucking, building supply, heavy equipment, outdoor storage or fleet-oriented companies.
Jeremy Ballenger and Tyler Carner of CBRE represented the seller, WCSC Yosemite LLC.
The acquisitions are the third and fourth in Denver for Industrial Outdoor Ventures, a real estate investment and development company that specializes in providing real estate solutions for heavy industrial uses in major markets throughout the United States. The only national real estate investor that specializes exclusively in outdoor storage facilities, Industrial Outdoor Ventures has expertise in both the physical facility and challenges that go along with placing equipment or material intensive operations within major population centers.
