The Denver office of Marcus & Millichap announced today the sale of Pueblo Industrial Park, a 28,800-square-foot industrial property located at 589 East Industrial Boulevard in Pueblo West. The asset sold for $3,650,000.
“This was a rare opportunity to purchase the largest Small-Bay Industrial Park in the area located on over a 6-acre lot,” Cory Gross quoted. “With only 2.5% vacancy in the market and no new construction in the pipeline, the new owner can increase the value of the property by raising existing rents to market and utilizing the nearly 3.5 acres of secured fenced yard for storage or development.”
Gross, an investment specialist in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was procured by Brandon Kramer and Spencer Mason, investment specialists also in the Denver office.
