Fully Leased Industrial Warehouse Trades Hands in Englewood
Englewood, CO – Marcus & Millichap recently announced the sale of a +/- 9,600 square foot multi-tenant industrial warehouse located in Englewood, Colorado. The asset sold for $760,000.
The seller, a private investor in this transaction, was represented by Brandon Kramer, senior investment specialist, and Sean Gelson, investment specialist, both located in Marcus & Millichap’s Denver office. The team also worked with Gus Lagos, senior investment specialist, and Evan Altemus, investment specialist, both based out of the Houston office.
“This was a really great bite-sized deal in an underserved asset class.” stated Kramer. “The demand for small bay industrial space is very strong, putting the buyer into a great asset.”
The industrial warehouse is located at 2835 South Raritan Street in Englewood, Colorado. just off North Santa Fe Drive and Federal Boulevard. This highly sought after property has a strong history of steady cash flow and high occupancy and is currently 100 percent occupied by three tenants. Kramer stated, “Because of the high demand, we saw multiple offers and were able to close 10 percent above our list price. The transaction demonstrated that a well-priced, well-located multi-tenant industrial asset is in very high demand from investors.”
Photo courtesy of Marcus & Millichap