Unique Properties, Inc./TCN Worldwide, a privately held, full-service commercial real estate brokerage firm, recently announced the sale of 10120 Twenty Mile Rd in Parker, for $4,830,000 ($365/SF) at a 6% Cap Rate.
Brett MacDougall and Michael DeSantis, vice presidents with Unique Properties, Inc., represented the California-based buyer in this transaction. The buyer was in a 1031 exchange and was looking to begin investing in flex/industrial properties in the Colorado market. The seller, a local owner/developer, began constructing the building in 2021 and is approaching completion.
The building is 100 percent occupied by two long-term tenants on triple-net leases. The asset is extremely well situated in Parker with quick access to Parker Rd, Lincoln Ave & E-470.
“The buyer was attracted to not only the overall quality of the construction, but the ease of the NNN leases with established, recession-proof tenants” Brett MacDougall noted. The property is over 13,000 square feet and sits on 1.5 acres; its location is well within the path of development that is ongoing within the City of Parker, which presented an optimistic outlook for the buyer down the road.
“As it becomes tougher to find attractive investment properties throughout the Denver metro market, our client was thrilled to be able to acquire a functional and stabilized asset within a top-ranked trade area,” MacDougall added.