Distribution Building at I-70 and Peña Sells for $7.1M
A 75,000-square-foot distribution building located at 15800 East 40th Avenue in Aurora has sold for $7,125,000. Todd Witty and Doug Viseur with CBRE’s Denver office represented the seller, Serta Simmons Bedding. Dalfen Industrial from Dallas, Texas, purchased the property in a transaction that closed April 30. Serta Simmons has consolidated into a facility a few miles away.
CBRE retained the leasing assignment for the property. “Located in the center of the I-70 corridor in the Airport submarket, 15800 East 40th Avenue is a great value-add opportunity with excess land for future building expansion or trailer parking and
storage,” stated Todd Witty, first vice president, CBRE. “This property demonstrates continued aggressiveness in Denver’s industrial sector.”
Built in 2003 for Serta’s own operations, 15800 East 40th Avenue is a Class A building visible to more than 120,600 vehicles traveling on I-70 and Peña Boulevard daily. The property includes a fenced, secure loading area; ESFR sprinklers; dock-high and drive-in loading; 24-ft. clear heights; radiant heat throughout; mechanical pit levelers, dock lights and seals; skylights; and an air exchange system. The building also houses approximately 6,500 square feet of office space.
This disposition is part of the continued consolidation of the Serta and Simmons facilities across the country. Serta Simmons has consolidated into a facility a few miles away.
“The building has heavy power, high ceilings, excess land and great loading making it a fit for both manufacturing and distribution tenants. With its highway visibility and excellent location, it would even be a good fit for a showroom use,” stated Viseur. “The property is also within an Enterprise Zone, offering potential tax benefits to tenants.”
Photo courtesy of CBRE