November 5-November 18, 2014 —
COLORADO REAL ESTATE JOURNAL
— Page 3AA
Industrial
by Jill Jamieson-Nichols
A
third-party
logistics
company is growing into a
204,000-square-foot distribu-
tion building in Commerce City.
Acme Distribution Centers,
which occupied about half of
a building at 9101 E. 89th Ave.,
signed a new lease for the entire
building.
“They are in a number of
buildings around the city. This is
an additional
operation for
them,” said
Tim Gilchrist
of Cassidy
Turley, who
represented
the landlord
with
Cas-
sidy Turley
brokers Brian
Wilkes and
Alec Rhodes. Altorfer Colorado
LLC is the property owner.
Located on 9.96 acres off
of Highway 2 and East 88th
Avenue, the building has 22-
to 24-foot clear height and 24
dock-high doors with levelers
and shelters. It was built in 1982
and renovated in 1997.
Founded in Denver in 1947,
Acme Distribution Centers has
locations in Chicago, Dallas and
in Harrisburg, Pennsylvania.
The company provides logis-
tics, warehousing, trucking and
fulfillment to more than 400
clients, according to its website.
Other News
n
An entity called
3741 E.
64th Ave. LLC
paid $2 million
for 20.9 acres of Industrial-3
land at 3741 E. 64th Ave. in
Commerce City.
The property contains five
small buildings and a house,
however, “It was really a land
deal,” said
Tim Gilchrist
of
Cas-
sidy Turley,
who represented
seller
Magnolia Enterprises
LLC
with Cassidy Turley’s
John
Emmerling.
Located near 64th Avenue
and Colorado Boulevard, the
property has been used mostly
for storage by various compa-
nies. The buyer plans to use
half of the property for its busi-
ness and keep the remainder
as income-producing property,
said
Paul Schneider
of
Pinna-
cle Real Estate Advisors,
who
represented the group with Pin-
nacle’s
Mark Goodman.
Gilchrist said the deal offered
the buyer a rare opportunity
to buy a large parcel of heavy
industrial land in the Denver
area. “It’s hard to find some-
thing like that,” he said.
n
A group affiliated with a
high-end cabinetry company
paid $1.55 million for a 23,800-
sf warehouse at 3840 Forest St.
in Denver.
Madeline Cohn
sold the
property to
3840 Forest LLC,
a group that is partnering with
an established company in a
new venture. The building sits
on a 1.27-acre site with a fenced
yard, and dock-high and drive-
in loading.
Taylor Hazard
and
Kirk Van-
ino
of
Cushman & Wakefield
of Colorado
were the listing
brokers.
David Leuthold
of
Leuthold Commercial
repre-
sented the buyer.
n
A 9,060-sf building suitable
for marijuana growing sold in
July for $950,000 and recently
traded a second time for $1.05
million in a deal that produced
significant activity. The price
equates to $115.89 per sf.
The seller,
JamAli Invest-
ments LLC,
decided not to use
the building, which is located
at 10665 E. 51st Ave. in Denver,
and offered it for sale or lease,
said
Taylor Hazard
of
Cush-
man & Wakefield of Colo-
rado.
“We were showing it two
or three times a day once it was
back on the market,” he said.
Part of the attraction was the
size of the asset, which Hazard
said is almost impossible to
find in Denver. In addition, the
owner offered to carry financ-
ing, although the buyer –
51st
Avenue Investment Group
LLC
– paid cash.
The Design
Group
will use the building,
which was constructed in 1970,
as a grow facility.
Hazard and
Kirk Vanino
of
Cushman & Wakefield were
the listing brokers.
s
Acme Distribution Centers took over the entire building at 9101 E. 89th
Ave. in Commerce City.
Tim Gilchrist
by Jill Jamieson-Nichols
A unique property near a
future Stapleton light-rail sta-
tion incited a bidding war, sell-
ing to a user that likes the sur-
rounding amenities and future
development potential.
A longtime airplane salvage
yard, the 15.5-acre site at East
40th Avenue and Ulster St. in
Denver sold for $3.15 million.
It contains two buildings total-
ing 18,158 square feet and 8.43
usable acres, representing a
land sale price of $8.58 per sf.
The tenant has a lease in place
through July 15.
Tyler Smith, Cassidy Turley
senior vice president and prin-
cipal, said the property offered
an unusual opportunity to
acquire a large piece of cen-
trally located industrial land
just north of the future Central
Park Station. The station is part
of the Regional Transportation
District’s East Rail Line between
D e n v e r
Union Sta-
tion
and
Denver Inter-
national Air-
port that will
open in 2016.
“We actu-
ally got into
a
bidding
war,” Smith
said, adding
all of the potential buyers that
looked at the property had a
single-tenant use that could
cash flow the property in the
near term. The buyer’s plans
weren’t disclosed.
“It’s such a unique little
submarket that’s going to go
through a dramatic change
once light rail comes on line,”
Smith said.
“An 18,000-square-foot prop-
erty with an eight-acre yard is
a sought-after product,” said
Brad Gilpin of Unique Prop-
erties LLC-TCN Worldwide,
who repre-
sented the
buyer with
Unique Prop-
erties’ Greg
Knott. The
buyer was a
Wichita, Kan-
sas, group.
“They like
the
future
development
potential there at the site and
proximity to retail and light
rail,” Gilpin said.
The property, which is bisect-
ed by Sand Creek, has been
an airplane salvage yard since
the 1960s. Located between
Interstate 70 and Smith Road,
and Quebec Street and Central
Park Boulevard, it sits between
Stapleton and Northfield Sta-
pleton. The addresses are 8100-
8300, 8130 and 8131 E. 40th
Ave.
The Duff Estate was the sell-
er.
Smith co-listed the proper-
ty with Cassidy Turley’s Alec
Rhodes and Aaron Valdez.
Other News
n
Rocky Mountain Volley-
ball Club LLC
recently signed a
five-year lease for 16,000 square
feet of Class A industrial/flex/
retail space at 158 Caprice Court,
Suite A, in Caprice Commerce
Center in Castle Rock.
Matt Call
of
NavPoint Real
Estate Group
represented the
landlord,
Off the Chain LLC,
a
local developer.
Pete Staab
and
Tyler Johnson
of
Newmark
Grubb Knight Frank
represented
the tenant.
n
A 2.05-acre site at the south-
west corner of Highway 7 and
Elmira Street in Brighton, known
asHiLandAcres, soldfor$170,000.
The
Beverly D. Bernard Living
Trust
sold the property to
PROV
356,
which plans to use it for
industrial shop space.
Matt Call
and
Heather Taylor
of
NavPoint Real Estate Group
represented the seller.
s
A property between Stapleton
and Northfield Stapleton incited a
bidding war.
Tyler Smith
Brad Gilpin
by Jill Jamieson-Nichols
A plant that produced pick-
les – and jobs for the south-
east Colorado community of
La Junta – could go back into
production as a brewery.
Miller Ranch Land Company
LLC recently bought the for-
mer Bay Valley Foods pickle
plant for $900,000 and report-
edly is considering brewing
beer there.
The plant consists of 185,310
square feet of space in five
buildings right on the main
highway through the city.
The buildings have “enor-
mous” water taps with eco-
nomical utility costs, special-
ized flooring with floor drains,
fire sprinklers, rail service and
other features that make the
property ideal for a variety
of manufacturing operations.
However, it is just over an hour
from the nearest major city,
Pueblo.
“I’m astonished that it was
available as long as it was at
that level … but it is in La
Junta,” said Greg Knott of
Unique Properties LLC-TCN
Worldwide, who co-listed the
property with Unique Proper-
ties’ Brad Gilpin and Tom Brann
of Norm Murphy & Associates
Inc. in La Junta.
RMG-Pickle Factory LLC, an
affiliate of ANB Bank, sold the
property.
A longtime employer in La
Junta, the pickle factory closed
in 2006, putting approximate-
ly 150 workers out of a job
and destroying the market for
locally grown cucumbers. A
biodiesel company planned to
use it to produce biodiesel from
sunflowers, but those plans
fell through, and the 27.46-acre
property went back on the mar-
ket.
The buyer couldn’t be reached
for comment, but there is hope
the sale will return the property
to a productive use within the
community.
“Everybody is hoping that it’s
going to be a successful opera-
tion as far as a production brew-
ery,” said Brann, adding he will
be among those cheering on
the new owner. “The sale of
the facility has been a long time
coming, and I am glad to have
been a part of the process for
the seller and buyer,” he said.
Knott said the property is
in “decent” condition, despite
being nonoperational over the
last several years.
At one time, the plant used a
million gallons of water a day.
It has heavy electrical service,
freezers and coolers and about
23,000 sf of office space. The
buildings were built between the late 1940s and early 1970s and have been modernized.
s
La Junta’s former pickle factory is being targeted as a brewery.
