Home Depot-Occupied Industrial Building Sells in Aurora
A 220,000-square-foot, Class A distribution center, fully leased to The Home Depot at 1953 N. Gun Club Rd. Aurora—within Prologis Park 70, one of Denver’s premier industrial parks—has changed hands. JLL represented the seller, EverWest Real Estate Investors. The building was part of EverWest’s $3.6 billion in assets under management. This includes a Colorado portfolio totaling more than 2 million square feet of office and industrial space, and 304 multi-housing units. The name of the buyer was not disclosed.
The mission-critical facility was constructed in 2012 as a build-to-suit for The Home Depot, which currently operates its Home Depo Pro business line out of this location, which is proximate to a large customer base. The cross-dock facility features a 32-foot clear height, 44 dock-high doors, low office buildout, ESFR fire protection, secure fencing, and 15 trailer parking stalls. The building has the potential to be expanded by an additional 60,000 square feet and 24 additional trailer parking stalls on the east end of the 17.22-acre site.
1953 N. Gun Club Rd. is situated at the highly visible northeast corner of Interstate 70 and E-470, which is a prime logistics location with direct access to Denver International Airport and connectivity to the entire Denver MSA. Additionally, the facility is located within the established I-70 East Industrial submarket, the largest and most intuitionally owned submarket in the Rocky Mountain region.
EverWest Executive Vice President and Head of Asset Management Krystal Arceneaux directed the disposition and management of the asset.
“EverWest has been fortunate to participate in this asset since its development. The building’s long-term credit tenancy and location in a Class A industrial park were key to maximizing value,” Arceneaux said. “JLL ran a smooth and efficient sale process in an extremely competitive market. We are very happy with their outcome and our ability to pass along this quality asset.”
Photo courtesy of JLL