A 52,000-square-foot industrial building on a nearly 8-acre site in Centennial changed hands at a price of $12.38 million.
The state-of-the-art building at 7909 S. Chambers Road in Dove Valley Business Park was built in 2018 for a nationally recognized tenant, RoadSafe Traffic Systems. It sits on 7.94 acres with a large, fenced yard.
Records show Merritt 777 LLC bought the property from Ridge Dove Valley Partners LLC and Scott Family LP.
RoadSafe’s long-term lease commenced last year, according to Sam Leger of Unique Properties Inc.-TCN Worldwide, who represented the buyer with Unique Properties’ Tim Finholm. The buyer was completing a 1031 exchange.
Sam Leger
“Having a brand-new building with a 7-acre yard is tough to find, and that was probably the most appealing thing about the property,” said Leger.
The listing evoked strong activity from a number of 1031 buyers as well as private capital investors, according to Todd Witty of CBRE, who represented the seller with CBRE’s Doug Viseur.
“The southeast Denver industrial market has been rapidly expanding in this real estate cycle, and Dove Valley is one of the few areas that can provide land zoned to allow outside storage. This property is unique in that it was a build-to-suit for a national traffic safety company that required 3 acres of outdoor storage and grade-level loading,” Witty said.
