CBRE Completes Sale and Leaseback of Two-Property Industrial Portfolio in North Denver
DENVER – CBRE recently completed the sale and leaseback of a two-property industrial portfolio located at 5575 Logan Court in North Denver. The 86,000-square-foot portfolio is fully leased to Custom Made Meals, a Denver-based manufacturer of oven-ready entrees and appetizers.
Andrew Sandquist, JC Asensio and Briggs Goldberg of CBRE Corporate Capital Markets represented the seller. The buyer, a New York-based REIT, purchased the property in a sale that closed the first week of July. The sale price was not disclosed.
“Denver is a robust industrial market given the low vacancy rates and significant rental growth,” commented CBRE’s Andrew Sandquist. “The Custom Made Meals portfolio offered investors a unique opportunity to acquire an irreplaceable asset situated in the heart of Denver’s core industrial submarket with a long term lease.”
The two-property portfolio includes industrial freezer-cooler space, food production operations and warehouse facilities. Custom Made Meals will continue to lease the space in a long-term, net lease following the sale. The site is located just off I-25 in North Denver, approximately 1.5 miles north of I-70. Custom Made Meals is a leading manufacturer of fresh, oven-ready, value-added entrees and appetizers. Their chef-inspired products are currently available at more than 6,000 grocery retail locations nationwide.
Image courtesy of CBRE.