Lakewood Industrial Property Sets Record Price Per Square Foot
Cushman & Wakefield recently brokered the sale of a freestanding industrial building in Lakewood. Located at 12290 W. Alameda Dr., the 4,465-square-foot building is situated on 1.55 acres and sold for $1.465 million or $328/sf. The seller was 1st Electric Investors LLC and the buyer was 3bar Denver LLC, an owner/user that will use the property for their Colorado business operations.
Aaron Valdez, Tyler Smith and Alec Rhodes with Cushman & Wakefield’s Denver office represented the seller in the transaction.
“This is a unique asset, that offers a high-end office finish along with hard-to-find outdoor storage on the west side of metro Denver,” said Aaron Valdez of Cushman & Wakefield. “Achieving a price point of $328 per building square foot, the transaction represents the particular qualities of this property.”
The property was built in the late 1990s and features ±2,955 square feet of high-quality office and ±1,550 square feet of warehouse space and 1 acre of fenced yard space. It is also conveniently located near several major freeways and roadways.
According to Yardi, Denver is expected to be one of the top 20 industrial markets in 2020, with 4.6 million square feet of new space scheduled for delivery this year, right behind Philadelphia and ahead of Las Vegas. This represents an increase of 53 percent over last year when the market added 2.9 million square feet of industrial space.