The Colorado Group, Inc. announce the sale of the “Project” – a multi-tenant industrial asset in Denver for $16.15M.
Christian Smith of The Colorado Group, Inc. of Boulder, CO announced today the sale 1050 W Hampden Ave (the “Project) – a 92,080 SF infill multi-tenant industrial asset located at the junction of Highway 85 and Highway 285 in Denver’s South-Central market. The property sold on the 12th of February 2020, for a total of $16,150,000. Christian Smith represented the Buyer on the transaction.
The fully stabilized industrial project offers long term leases, in a highly functional and diverse building at a desirable infill location. The largest space in the building houses the Earth Treks climbing gym, which is currently the largest indoor climbing gym in America. Tenants will have access to over two-thirds of the metropolitan Denver population within a 15-mile radius – surrounded by some of Denver’s highest-income neighborhoods!
“This Property presented a fantastic opportunity for an out of state investor to enter the competitive Front Range commercial real estate market with solid in place income and significant term on the Leases. This is a Property with a lot of exposure, solid Tenants, and potentially some value to be added in the long term. We were excited to get the Buyer in a position to acquire the asset.” Says Christian Smith – Principal/Broker Associate at The Colorado Group, Inc.