Redevelopment of existing industrial building planned

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Denver County

Property Location: 2200-2220 California St., Denver

Property Description: 18,614-sf commercial building with five drive-in doors, 16’ clear, YOC 1920, masonry construction (to be fully renovated)

Land Size: 18,893 sf

Sales Price: $3M, or $161.17 per sf

Reception No.: 2016067571

Closing Date: 5/24

Grantor: WEJ 2015 Charitable Remainder, William E. Jackson, tr., 303-377-7758

Grantee: 550 Spyder LLC, Aaron Westphal, Jacob Vanderslice

& Wade Buxton, 303-625-9820

Financing: $2.4M payable to Lead Funding LLC

Comments: Property was listed by Steve Serenyi, 303-238-4578, and Tyler Ryon, 720-833-4612, of Colliers International. “The property was under contract within a week after we signed the listing,” said Ryon. Building was vacant at time of sale. According to Ryon & Serenyi, there are 762 housing units proposed and 316 units under construction in the immediate area, totaling 1,078 units. Wade Buxton of Vanwest Partners, 303-625-9820, one of the buyers and broker, is offering this 17,805-sf “to-be-renovated-retail-space” for lease @ $22. Smaller space of 1,380 sf is offered at $35 per sf. The five units include spaces of 1,380 sf, 1,908 sf, 3,276 sf, 5,392* sf and 6,698* sf. *The two office spaces are offered at $22 per sf NNN while the three retail spaces are offered at $30 per sf & up.

Comp of the Day is provided by by John V. Winslow, president of WinComps LLC. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or [email protected]

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