Portfolio of Industrial Buildings in Park Hill Sells for $7.5M
Kenai Capital Advisors represented Rayfield Properties LLC in the sale of a portfolio of industrial buildings in Denver. The portfolio was comprised of 4701 Colorado Boulevard, a 27,300-square-foot industrial building on 2.18 acres, and 6500 Franklin Street, a 20,000-square-foot industrial building on 2.14 acres and sold for $7,530,000.
This unique, well-maintained, and highly visible industrial portfolio sits directly adjacent to the newly completed I-70 project in the Park Hill area of Denver. The buyer, a Colorado-based private equity firm specializing in industrial assets, was sourced by Kenai in this off-market transaction.
The portfolio is comprised of two strategically located buildings totaling 47,300 square feet. 4701 Colorado Boulevard was built in 1968 and is 100% leased to a wholesale plumbing supply company that utilizes the property for distribution and outdoor storage of plumbing accessories and products. 6500 Franklin Street was developed by the seller in 2001 and is 100% leased to two long-term tenants. Each tenant utilizes the drive-in loading and outdoor storage capabilities of each property to maximize business operations in the North Denver submarket. The functional layout of these assets paired with irreplaceable locations made this acquisition an exceptional addition to the buyer’s growing Denver industrial portfolio.
“This portfolio is an excellent example of the market demand for irreplaceable and functional industrial product,” said Garrett Neustrom of Kenai Capital Advisors. “The seller was cautious to market the portfolio in the current market conditions and asked Kenai to locate a buyer that could perform well. The buyer and seller both performed admirably, and we were able to efficiently execute the transaction.”
Kenai Capital Advisors is an investment sales and capital markets advisor based in Littleton. Kenai focuses on industrial, office, data center, and retail assets sales and equity capitalization across the Mountain West region. Comprised of industry veterans with over $1.5 billion in transactional volume and over 20 million square feet of management experience, Kenai strives to make every property recommendation with the clear goal of maximizing investor returns.