Industrial Outdoor Storage Lot Sells for $8M
Gordon Storage recently sold a 10-acre industrial outdoor storage lot, known as AAA RV and Boat Storage, located at 5775 Tennyson in Arvada, to OUTOUR ACQUISITIONS LLC, a Delaware limited liability company.
The property closed on May 31, 2022, for $8.05 million. Jason White and Nick Steitz of JLL served as the seller’s representatives. The sellers purchased the property in December 2020 for $5.65 million and created significant value by improving site efficiencies, resulting in a double-digit percent increase in the value of the property over the last two years.
“We implemented significantly more sophisticated property management methods over the last two years and improved the overall efficiency of the property,” said Parker Samelson of Gordon Storage. “We also benefited from market conditions and the strong growth in dignitary institutional capital which has flooded the industrial outdoor storage space recently.”
As the new owners, OUTOUR ACQUISITIONS LLC plan to operate the property as-is. The location at 58th and Tennyson offers direct access to I-76 via Sheridan Boulevard and is within a densely populated infill submarket of the Denver metro area.