New York-based IG Logistics LLC and Meadow Partners, an institutional middle-market real estate investor, have acquired a ±26.7-acre industrial storage yard/trailer site in central Denver for $19 million. Located at 409 West 66th Avenue, the vacant property is zoned for outside storage and includes a 10,000-square-foot freestanding industrial building with ±6,500 sf of office space, two drive-thru service bays, and 14 feet of clear height.
IG Logistics LLC, Imperium Capital’s industrial platform, is an owner/operator of industrial properties that have a large outdoor storage or transportation component. The company specializes in acquiring and developing infill assets in high barrier to entry, urban growth markets where demand for logistics real estate is driven by e-commerce. The company’s strategy focuses on last mile facilities that are mission-critical to the supply chain.
Following the acquisition, IG Logistics LLC and Meadow Partners hired Cushman & Wakefield’s Matt Trone, SIOR, and Joey Trinkle to lead marketing efforts. The property can accommodate a single user or may be divided into a variety of layouts beginning at ±4 acres to accommodate multiple users.
The property provides a great central Denver location near the confluences of I-76, I-25, I-270, US 36 and I-270, and is also proximate to the BNSF Intermodal Facility and UP Intermodal Facility.
“This is a rare and very attractive piece of property readily able to meet the needs of the transportation industry by providing a large, ample area for outdoor storage and trailer parking, or other potential industrial uses,” said Managing Director Matt Trone. “Due to an aggressive push over the last few years to develop infill locations, we are seeing high demand with tenants being displaced and need this type of asset for their operations. This site presents an exceptional option for those tenants needing a location to serve the Denver market or proximate markets.”