Prominent I-70-Adjacent Industrial Warehouse Sells for $6.3M
DENVER — A 56,376-square-foot industrial warehouse, located at 4751-4755 E 46th Avenue in Denver has sold for $6,300,000, or approximately $112 PSF.
Tom Myers, executive vice president, and Jake Cook, broker associate, at Unique Properties, Inc. / TCN Worldwide, represented the buyers. The buyers were Elle, Patty, and John Faulkner, owners of FMH Material Holding Solutions, Inc. The seller, Warehouse1, LLC, was represented by CBRE.
“We saw really strong interest when this property went on the market because there are very few industrial buildings for sale in this size range across all of Denver, especially properties that have the excellent highway visibility of this site. Demand for industrial buildings from both investors and users is incredibly strong in Denver right now, and it’s a lack of properties for sale that is preventing us from seeing even more transactions,” said Doug Viseur, first vice president with CBRE Industrial & Logistics, who represented the seller along with CBRE’s Todd Witty.
The property was built in 1962 and renovated in 2016. It features dock high and drive in loading, 18’ ceiling heights, and is fully sprinklered. It is ideally located just off I-70 with great highway visibility. At the time of sale the property was 50 percent occupied by Bath & Granite. FMH Material Holding Solutions, Inc. will occupy the remainder of the property.
According to CBRE Q2 reports, year-to-date overall (investment and owner/user) industrial sales volume totaled $762.6 million in Denver, up nearly 50 percent compared to the first half of last year.