Denver-based commercial real estate investor and developer Comunale Properties continues to execute its Private Capital CoreTM long-duration income strategy, acquiring an industrial building at 1870 W. 64th Ln. in Denver. The fully leased multi-tenant asset is the latest addition to Comunale Properties’ industrial holdings spanning six states.
The acquisition is part of the company’s Private Capital CoreTM strategy targeting functional infill, small-bay, last-mile industrial properties. Comunale is executing this strategy in several markets experiencing outsized population growth and lasting tenant demand drivers.
“We’re happy to add another great property to our Colorado investment portfolio,” said John Comunale, president of Comunale Properties. “This acquisition is a continuation of our larger effort to identify and acquire infill, multi-tenant industrial assets in high-growth markets across the Southwest and Southeast. The risk-adjusted returns of stabilized assets today are as attractive as they have been in several years.”
“Comunale is heavily focused on infill industrial markets, and Denver’s North Central submarket is as good as it gets for infill in Denver,” said Matt Dodge, vice president of investments for Comunale Properties. “The asset is 100% leased to three tenants providing immediate stable income, and the building’s modern features, including 20’ clear heights and tilt-up construction, will ensure high tenant demand for years to come.”
Brandon Kramer of Marcus and Millichap represented the property seller, Manhattan Fund XXI LLC.
Comunale Properties is a privately-owned, fully-integrated real estate company with offices in Denver, Colorado, Akron, Ohio and Houston, Texas. Through its subsidiaries, Comunale primarily acquires, develops, and manages single and multi-tenant industrial properties.
