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Page 4AA — COLORADO REAL ESTATE JOURNAL — June 17-June 30, 2015
Industrial
by Jill Jamieson-Nichols
A southwest metro industrial
building fetched $9.72 million
in an off-market deal.
Drake Mansfield Partners,
an affiliate of a Denver invest-
ment, development and man-
agement company, paid $50.90
per square foot for the 191,009-
sf building at 1201 W. Mans-
field Ave. in Englewood. The
multitenant building, also
known as 3880 S. Windermere
St., has been fully occupied
since 2010.
“The southwest industrial
market is a really strong indus-
trial submarket,” said DTZ
Managing Director R.C. Myles,
who handled the transaction
with DTZ’s James Brady, Alec
Rhodes and Aaron Valdez.
“The building is a good,
functional, clean building with
good exposure on Santa Fe.
Interestingly, although we were
not actively
marketing it,
we did have
several buy-
ers that had
come out of
the wood-
work want-
ing to pur-
chase it,” said
Myles. Seller
N o r t h s t a r
Commercial Partners bought
the building vacant and “had
done a really nice job” renovat-
ing and retenanting the build-
ing, which originally was a sin-
gle-tenant asset, Myles added.
“After initially acquiring this
building in 2007, we invest-
ed in a full-scale renovation
of the entire property. We’ve
now held 100 percent occupan-
cy with some truly wonderful
local tenants for the last sev-
eral years,” said Brian Watson,
Northstar founder and CEO.
“We really
love going in
and buying
these vacant
assets and
creating jobs
and opportu-
nity for the
local com-
munity in the
repos i t i on -
ing process,”
said Watson. “We’re glad to sell
it to the new buyer and wish
them great success with it. I
have full confidence that they
will only continue to foster fur-
ther growth and opportunity at
this attractive southwest Den-
ver facility.”
Ouray Sportswear occupies
85,000 sf in the building. The
other tenants are Hands-on
Labs Inc., ProDPI and Christian
Brothers Moving & Storage.
Situated on 5.97 acres, the
building has proximity to the
Oxford-City of Sheridan light-
rail station, which is attractive
for tenants, said Myles. Con-
structed in 1965, it has new
HVAC, high-efficiency lighting
and new office space build-out.
Building features include
high ceilings, ample power,
and dock-high and drive-in
loading.s
The building at 1201 W. Mansfield Ave. in Englewood has been fully
occupied since 2010.
R.C. Myles Brian Watson
by Jill Jamieson-Nichols
The trend toward redevelop-
ment of industrial properties in
Denver’s River North neighbor-
hood continues with the off-mar-
ket sale of a 61,954-square-foot
building and adjacent land at 3201
and 3000Walnut St.
WSM Properties, which is affili-
ated with sheet-metal company
WSMIndustries, sold the property
to Parkhill Development Co. for
$5.58 million. WSM traded into a
larger building at 5925 Broadway
in Denver, where it will relocate.
That building, which totals 66,590
sf, sold for $4.48 million, or $67.20
per sf, saidAaron Valdez of DTZ.
Valdez, who represented Park-
hill Development with DTZ’s
Alec Rhodes and Tyler Smith, said
Parkhill is looking to redevelop
the Walnut Street property with
retail and office uses. The compa-
ny is led by Bill Parkhill, who has
beenbuying and sellingproperties
in River North for several years.
Rodolfo Canon of Your Castle
Real Estate represented WSM
Properties in the sale of the RiNo
property and acquisition of the
building on Broadway. DTZ rep-
resented the Larson family in the
sale of the Broadway property.s
by Jill Jamieson-Nichols
CAM Services is moving out
of Denver and into Adams
County as part of an expansion.
The company recently pur-
chased an 8,000-square-foot
building on five acres at 2525
W. 64th St. that it will expand
by another 8,000 sf. It plans
to add two smaller buildings
totaling 5,000 sf to the property,
which it purchased for $2.3 mil-
lion.
“We are excited to be able
to expand, and this will help
us do a more efficient job for
our customers,” said company
founder and President Butch
Hartman.
CAM Services, which pro-
vides snow removal, property
maintenance, tenant finish and
construction cleanup services,
currently has three facilities
that it has outgrown. Hartman
said he is looking forward to
operating out of a single loca-
tion and also was eager to get
out of the city and county of
Denver because of “excessive”
taxes and regulations, includ-
ing not allowing him to store
trucks on a property he bought
and cleaned up across the street
from the company’s facility on
East 45th Avenue in Globeville.
G Squared Design is design-
ing the addition and expansion,
which will include a standalone
building for storing Ice Slicer
used for snow removal.
“This was a rare site in an
incredibly tight market. CAM
Services is the premier compa-
ny in Denver for snow removal,
temporary fencing, landscap-
ing, sweeping, and the list goes
on. Finding a site with central
access to the city and a lot large
enough to accommodate their
entire business was extremely
difficult. In the end I believe
they selected a great site and
will only further their ability
to continue to serve the Front
Range,” said Daniel Close of
CBRE, who represented the
company in the acquisition.
Close also is representing the
company in the sale of its exist-
ing properties, two of which are
under contract.
CAM Services employs 60 to
70 people full time and 200 to
300 part time. It expects to be in
its new location by November.
Other News
n Superior Plus Construc-
tion Products Corp. leased
30,650 square feet of warehouse
space at 4770 Ivy St. in Denver.
Russell Gruber and Steve
Fletcher of Newmark Grubb
Knight Frank represented the
landlord, Ivy Street Partners
LLC. Ross Longo of Partners
National Real Estate Group
Inc. represented the tenant.s
G Squared Design
CAM Services will expand the building at 2525 W. 64th Ave. for its operations.
ʻWe are
excited
to be able
to expand,
and this will
help us do a
more efficient
job for our
customers.ʼ
– Butch Hartman,
CAM Services