Spinghill Business Center, a multitenant industrial property in Aurora, sold to a local investment group for $6.3 million, or approximately $96 per square foot.
Ohio Senior Housing Properties LLC, which traditionally has been an apartment owner but is venturing into other asset types, purchased the property at 909-943 Telluride St. and 908-950 Salida Way.
The 60,480-sf property was 100 percent leased to numerous small, local tenants.
There was considerable investor interest in the asset, according to Sam Leger of Unique Properties Inc.-TCN Worldwide. “There’s just a lack of multitenant industrial on the market currently in Denver,” said Leger, who represented the seller, Advanced Property Services LLC, with fellow Unique Properties Executive Vice President Tim Finholm,
Springhill Business Center was built in 1998 and sits on just over 3 acres of land off East Colfax Avenue, midway between Interstate 225 and E-470. The location provides quick access to Peña Boulevard and several bus stops.