A 36,789-square-foot industrial building located at 4343 Holly Street in Denver, has sold to Industrial Outdoor Ventures (IOV) for $6.5 million. This unique, well-maintained, and highly visible industrial building sits on 3.6 acres directly next to the newly completed Interstate 70 project in the Park Hill area. IOV has plans to hold this asset in its industrial outdoor storage-focused portfolio for the long term.
Built in 1957 and meticulously maintained, 4343 Holly Street is currently leased to Beacon Roofing Supply’s waterproofing division (Nasdaq: BECN) and will serve as an integral asset for their last-mile distribution to Denver-area customers. The property has seen significant renovations and has been exceptionally well maintained, making the property unique compared to other assets in the area. The buyer was attracted to the property’s ease of access to the newly renovated interstate, the functional
layout of the building, and the rare large outdoor paved storage yard. This large storage yard, exceptional location, and rail access made this property unique and a great fit for IOV’s portfolio.
Kenai Capital Advisors, an investment sales and capital markets advisor based in Littleton, represented the seller for the sale. “The sale of this asset represented the unwavering demand for industrial assets in Denver,” said Garrett Neustrom of Kenai Capital Advisors. “IOV identified the opportunity & value in this asset and was able to efficiently execute the transaction.”
“We remain bullish on the Denver metro marketplace and continue to look for opportunities like 4343 Holly Street to build scale there as well as in other strategic markets across the U.S.,” said Anthony DeLaurentis, acquisitions officer, Industrial Outdoor Ventures. “We continue to see strong demand throughout all of Denver with no signs of growth slowing down.”
Industrial Outdoor Ventures is a Chicago-based real estate investment and development company that specializes in providing real estate solutions for heavier industrial uses in major markets throughout the United States. The company is focused on creating value for its tenants, host communities and investors through the acquisition, and long-term ownership of mission critical Industrial Service Facilities (ISF), which feature a significant outdoor storage component. Industrial Outdoor Ventures is owned and capitalized by the management team and a private, institutional investor.
