Fully-Leased Industrial Property in Englewood Sells for $10M
Colorado company Gordon Development LLC has sold its 63,550-square-foot industrial property located at 8644 South Peoria in Englewood, for $10 million.
8644 South Peoria is a Class A, multi-tenant industrial building built in 2017 and 100 percent leased to two companies: a manufacturing tenant and Ninja Nation, a leading provider of obstacle course arenas and mobile course experiences serving America’s youth and adults.
Tyler Carner, Jeremy Ballenger and Jim Bolt with CBRE’s Denver office represented Gordon Development LLC in the transaction. Columbia Industrial Acquisition Company, LLC, from Chicago, purchased the property in a sale that closed March 16.
“The buyer was attracted to the property because of the Class A features, high-quality tenants with long-term leases and the southeast location that allows for convenient access to I-25 and the booming south metro area,” stated Jeremy Ballenger, executive vice president, CBRE.
According to CBRE’s Denver Industrial MarketView Q4 2019 report, metro Denver annual sales volume for 2019 totaled almost $1.5 billion, down only 11.6 percent year-over-year following the record-setting volume in 2018.
“The Southeast submarket, with over 20.5 million square feet of industrial inventory and another 864,000 square feet under construction, is maturing into a regional distribution hub with a growing base of major tenants serving the south metro area,” stated Tyler Carner, executive vice president, CBRE.
Photo courtesy of CBRE