ASB Real Estate picks up rare industrial portfolio for $72M

ASB Real Estate Investments completed one of the largest industrial property acquisitions in Denver this year with the $72 million purchase of three buildings in the airport submarket. The 633,193-square-foot portfolio included a 406,959-sf distribution building at 22100 E. 26th Ave. in Aurora, leased by Subaru of America; 9410 Heinz Way in Commerce City, a 140,630-sf building leased to Home Depot USA; and an 85,604-sf building that Old West Mattress Co. leases at 18300 E. 28th Ave. in Aurora. The average weighted lease term remaining is 3.1 years.

Jill Jamieson-Nichols

November 18, 2019

ASB acquires Denver industrial portfolio for $72 million

ASB Real Estate Investments has acquired a three-building, Class A warehouse portfolio totaling 633,193 square feet in Denver’s Airport submarket for $72 million. The investment was made on behalf of ASB’s Allegiance Real Estate Fund, a $7.5 billion core vehicle. A Blackstone affiliate, Link Properties, was the seller. Fully leased to Subaru of America, Home Depot, and Old West Mattress Company respectively, the three buildings include 22100 E. 26th Ave. (406,959 sf) in Aurora, 9410 Heinz Way (140,630 sf) in Commerce City and 18300 E. 28th Ave. (85,604 sf) in Aurora.

Jill Jamieson-Nichols

November 4, 2019

User pays $16M for building in Encompass Business Park

A user paid $16 million for a build-to-suit in Encompass Business Park, where a new speculative industrial building is being delivered and plans for another 171,000 square feet are underway. Rincon Research Corp., a defense contractor, exercised an option to buy the office building it occupies at 7140 S. Potomac St. in the Centennial business…

Jill Jamieson-Nichols

October 25, 2019

ETuk owners buy buildings at former Robinson Dairy site

The owners of Denver-based eTuk USA, which makes electric rickshaws, bought two buildings at the former Robinson Dairy property in Denver for $5.25 million, or $121.65 per square foot. There currently are tenants in both buildings, so, “It’s starting more as an investment play for them,” said Colin Clancy of Broad Street Realty, who represented…

Jill Jamieson-Nichols

October 18, 2019

LaSalle buys CenterCore Distribution Center for $45.25M

LaSalle Investment Management made its first industrial property acquisition in the Denver market in many years with the $45.25 million purchase of a Class A distribution facility on the central Interstate 25 corridor. LaSalle paid $181.56 per square foot for CenterCore Distribution Center, a two-building, 249,228-square-foot property at 5725 and 5775 N. Broadway in Denver.…

Jill Jamieson-Nichols

October 14, 2019

Murphy Co. acquires Northern Business Center in Thornton

Murphy Co., one of the nation’s largest mechanical contracting firms, has acquired Northern Business Center, a 128,998-square-foot office/manufacturing building at 12789 Emerson St. in Thornton. The company plans to transform the manufacturing area into 90,000 sf of fabrications space and relocate the majority of its Colorado-based employees into 40,000 sf of office space by January…

Jill Jamieson-Nichols

October 11, 2019

Intersand chooses Great Western park

A global company that produces cat litter has acquired a site at Great Western Industrial Park in Windsor for construction of a 46,000-square-foot packaging and distribution facility. The approximately $18 million facility will be the first U.S. location for Montreal-based Intersand America Corp. It is strategically located near bentonite clay mines in Wyoming, allowing raw…

Jill Jamieson-Nichols

October 4, 2019

Dalfen buys Denver infill property in first local market deal

Dalfen Industrial bought 77,222 square feet of centrally located industrial space in its first Denver acquisition. The acquisition included two small-bay buildings on 4.32 acres at 700 and 702 W. 48th Ave., immediately northwest of the interchange of Interstates 25 and 70. Dalfen paid $9.67 million, or $125.16 per sf, for the property. Mark Bowen “It’s perfect for the central market,” said Mark Bowen, Dalfen Industrial senior vice president and head of investments. The product appeals to smaller tenants that are the bread and butter of the Denver market and is a true last mile location in a submarket with consistently low vacancy, he said. “The location was key. It’s always stayed well-occupied because of where it is and its last-mile characteristics,” said Bowen. Built in 1984, the property has 11 units in each building and offers both dock-high and drive-in loading. It was 100% occupied at the time the sale. BR Printers, which occupies several units, is the largest tenant.

Jill Jamieson-Nichols

September 29, 2019

Walmart, Sigma leases lead to next building at 76 center

The first speculative industrial building at 76 Commerce Center in Brighton is 88% leased, prompting construction of a second spec building for delivery in late April. Walmart recently signed a lease for 91,997 square feet in Building 5, a 266,240-sf bulk warehouse building that was delivered in December. In addition, Sigma Corp., a wholesaler of…

Jill Jamieson-Nichols

September 6, 2019

Perlmutter buys land for SE development

Jordon Perlmutter & Co. has acquired 21.95 acres of land at Lincoln Executive Center in Centennial for development of approximately 300,000 square feet of industrial space. An affiliate, JP Grove LLC, paid $1.4 million for the property at East Caley Avenue and South Kenton Street, where it plans to develop four high-image buildings, likely in…

Jill Jamieson-Nichols

August 30, 2019