Western Innovations buys Nome Street building

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Denver County

Property Location: 4825 Nome St., Denver

Property Description: 50,544-sf industrial building, YOC 1973, concrete tilt-up, with rail & 7,140 sf of vacant land on separate parcel of land

Land Size: 2.29 acres

Sales Price: $3.38M, or $66.77 per sf

Reception No.: 2016074563

Closing Date: 6/6

Grantor: The Realty Associates Fund X LP by: TA Realty LLC, James P. Raisades, SVP, www.tarealty.com , 617-476-2700

Grantee: 4825 Nome Street LLC, S.J. Jernigan Jr., mbr., 303-307-4500

Financing: $1.69M payable to U.S. Bank NA; $1.31M payable to U.S. Bank, $1.34M payable to Denver Urban, total $4.33M in three loans. The third deed of trust was an SBA Loan in participation with the Denver Urban Economic Development Corp.

Comments: See APN: 01144-10-009 & 01144-10-018. Seller is principal of Western Innovations Inc., the tenant in the building. The tenant purchased the building from the landlord, TA Realty LLC. This building was part of a portfolio that sold in January 2014 for $36.9M and included 18 buildings totaling 906,845 sf @ $40.69 per sf. The buyer/landlord was Boston-based TA Realty Associates.  Seller’s acquisition contact is Rita Martineau, 617-476-2722, and its dispositions contact is Tracey Rice, 617-476-2745. The tenant of this building was desirous of acquiring the building for its long-term use.

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 Colprop2012@gmail.com.