A Class A industrial building currently leased to a diverse tenant roster, including PODS Moving and Storage and Kroger, has changed hands. United Properties has announced the sale of Trade@2534, a Class A industrial development located at 4201 Ronald Reagan Blvd. in Johnstown, Colorado, to California-based Nearon Enterprises, LLC. The terms of the deal were not disclosed.
The development is strategically located near the intersection of Interstate 25 and U.S. Highway 34, and offers modern, functional space for companies to grow and thrive in a business-friendly community.
Trade@2534 was completed in 2022 and fully leased within eight months of delivery. In addition to PODS and Kroger, other tenants include Radial Engineering, SCP Distributors and Stevens Equipment Supply.
“Trade@2534 addressed a need for Class A industrial space in the Northern Colorado region and was well received by tenants,” says Mindy Rietz, vice president, of commercial development, United Properties. “We believe the recent sale to Nearon Enterprises is a testament to the continued maturation of the region.”
The sale includes two Class A buildings — Building 1 is a 72,896-square-foot single-load building and Building 2 is a 145,008-square-foot cross-dock facility. The Class A development provides 24-foot and 28-foot clear heights and features energy-efficient, modern designs, TPO 60-mil “Cool Roofs,” ESFR sprinkler systems, and modern truck courts with significant car parking.
Jeremy Ballenger, Tyler Carner, Jim Bolt and Jessica Ostermick with CBRE represented United Properties in the sale of Trade@2534.
“Class A assets like Trade@2534 in the I-25 North submarket are extremely rare and are the most coveted among users,” adds Ballenger, executive vice president of capital markets and industrial properties, CBRE. “Both of these buildings offer additional divisibility, plus the park has a leased industrial outdoor storage (IOS) site that also provides future upside as either a development site or IOS.”
Trade@2534 is part of a joint venture partnership between United Properties and PCCP, LLC, a Los Angeles-based real estate investment management firm.