A 100% occupied building on 3.33 acres with heavy-industrial zoning sold to a Denver family investment group for $3.2 million.
The property at 5565 E. 52nd Ave. in Commerce City contains a 17,600-square-foot building that Fleet Direct Auto Brokers Inc. has occupied for approximately five years. Fleet Direct Properties sold the site to FiveKC LLC and leased it back from the new owner.
“The building is very unique with I-3 zoning and a 3.33-acre yard,” said Stream Realty Partners Managing Director Peter Beugg, who represented the seller with Tyler Reed, also of Stream Realty.
“It’s very rare to find I-3 zoning anywhere now, especially close to the city and with access to 270, I-70 and a 10-minute drive to downtown,” Reed added.
The deal represented a long-term strategic play due to the zoning, yard and central location, Reed said. “We got strong activity despite having a high price per square foot. A lot of people saw the value in that type of property in that location.” The building was fully renovated in 2015.
