Property Location: 7436 S. Eagle St., Centennial
Property Description: 10,828-sf warehouse/auto shop, YOC 1984, masonry
Land Size: 41,828 sf
Sales Price: $1.83M, or $169 per sf
Reception No.: D8015438
Closing Date: 2/15
Grantor: 528 N. Washington St. LLC, Jay P. Burton, mgr., Durango
Grantee: Eagle Street 1031 LLC by: National Safe Harbor Exchanges
Financing: 1031 exchange/cash
Comments: The property was listed by Zach Wright, 720-638-5404, and the buyer was represented by Justin Krieger, 303-962-9558, both of Pinnacle Real Estate Advisors LLC. It sold for $26,500 over list price. The single tenant is Caliber Collision, whose lease commenced in 2015 and runs for 10 years, with 3% bumps per year. The going-in cap rate is 5.9%. There are options subsequent to the end of the lease, which commenced in October 2015. The seller purchased the property in March 2016 for $1.46M with a going-in cap rate of 7.2%.
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.