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Page 34 — COLORADO REAL ESTATE JOURNAL — July 1-July 14, 2015
Industrial
by Jill Jamieson-Nichols
Central Development landed a
tenant to fill up a 98,875-square-
foot speculative industrial build-
ing at HighField Business Park
in Douglas County.
J.R. Butler Inc., which created
the glass systems for the Charles
Schwab campus, 100 St. Paul
and other notable new Denver
developments, signed a long-
term lease for the last available
space in the building at 8535
HighField Parkway in Engle-
wood. Including about 8,000 sf
of second-floor build-out, it will
occupy 81,282 sf.
“I think it’s a testament to
how little
space there
is out there,”
said Jer-
emy Records
of Central
D e v e l o p -
ment, which
d e v e l o p e d
the building
in partner-
ship with
Bradbury Properties. “If you’re
a tenant out there looking to
move, you’d better jump on the
options quickly,” he said.
The deal represents an expan-
sion for J.R. Butler, now located
in a smaller space in central Den-
ver. “It was just a good over-
all fit,” said Drew McManus of
Cushman & Wakefield of Colo-
rado Inc., who represented the
tenant with
Cushman &
Wakefield’s
Sam Slaton.
The first
specul at ive
i n d u s t r i a l
building to
be built in
the southeast
i n d u s t r i a l
s u bma r k e t
this real estate cycle, the build-
ing was delivered in shell condi-
tion in spring 2014. It features
24-foot clear height.
EdgeConnex occupies approx-
imately 30,000 sf, also on a long-
term lease.
Records said J.R. Butler will
move manufacturing opera-
tions into the building in July
and office functions will relocate
later this year. Tyler Carner and
Jeremy Records of CBRE repre-
sented Central Development in
the transaction.
Other News
n Rhino-Rack leased 23,862
square feet of industrial space
at Airways Business Center in
Aurora for its U.S. headquar-
ters. The company will relo-
cate to the building at 2450
Airport Blvd. from a smaller
space in Aurora, according to
Drew McManus of Cushman
& Wakefield of Colorado Inc.,
who represented Rhino-Rack
in the transaction.
Jim Bolt, Mike Camp and
Bill Thompson of CBRE rep-
resented the landlord, Pacifica
Real Estate Group.
Rhino-Rack makes vehicle
roof racks for bikes and skis,
and myriad other products.
n Otis Elevator signed a
10-year lease for 21,682 sf of
industrial space at Rampart
Distribution Center, which also
will house Carrier’s operations.
The companies will consoli-
date into the new speculative
building at 9750 E. Easter Ave.
in Centennial.
Drew McManus and Sam
Slaton of Cushman & Wake-
field of Colorado Inc. rep-
resented Otis in the transac-
tion. Tom Kaufman of Re/
Max Commercial Alliance
represented the landlord, East-
Group Properties Inc.
n Batteries Plus Inc., a Col-
orado company with 10 dif-
ferent locations, leased 6,000
sf of office/warehouse space
at 13695 E. Davies Place in
Centennial for its central ware-
house to supply stores through-
out the metro area.
Greg Knott and Zach Smith
of Unique Properties LLC-
TCN Worldwide represented
the landlord in the transaction.
Jarod Pate of DePaul Real
Estate Investment Group Inc.
represented he tenant.
Located off East Arapahoe
Road and South Peoria Street,
the property features 1,550 sf of
office finish and 16-foot-clear,
insulated warehouse space
with a 12-by-14-foot drive-
in door, skylights and fire
sprinklers.s
J.R. Butler will occupy 81,282 square feet in Central Development’s building at 8535 HighField Parkway.
Jeremy Records
Drew McManus
by Jill Jamieson-Nichols
Transwest’s owners sold two
more of the buildings the com-
pany used to occupy in Adams
County in a $5.25 million trans-
action.
An affiliate of Bruckner Truck
Sales Inc. purchased the build-
ings on 7.8 acres at 7626 and
7628 Brighton Road for Bruck-
ner’s Denver operations. The
improvements total 69,918
square feet and sold for $75 per
sf. The seller, GEP Investments
Inc., had demolished three small
buildings on the site that were
in poor condition, opening up
additional room for outside
storage.
John Segelke of Segelke Real
Estate LLC, said there was con-
siderable interest in the prop-
erty, but most of the parties who
looked at it were interested in
just one of the buildings, which
consist of
39,750 and
30,168 sf.
“I got a
lot of activ-
ity from
both users
and inves-
tors alike,”
he said. “If
they were on
separate lots,
the property would have sold
right away.” Because the build-
ings are close to one another, “It
really had to go to one buyer.
Bruckner came along, and it
is going to be a good site for
them,” Segelke said.
John Witt and Matt Call of
NavPoint Real EstateGroup rep-
resented the buyer, which was
completing a 1031 exchange.
Witt saidBruckner Truck Sales,
a Mack dealership, was run-
ning out of land and shop space
at its current
location at
4850 Vasquez
Blvd. in Den-
ver and will
be remod-
eling and
sprucing up
the Brighton
Road prop-
erty for its
operations.
“They’re going to be spending
a significant amount of money
on improvements, both interior
and exterior,” said Witt.
Bruckner was attracted to the
site’s visibility on Highway 85,
the size of the property and the
fact that people know about it
because of its previous use as
a truck dealership and mainte-
nance operation, he said.
Bruckner Truck Sales has more
than 20 locations in the Western
United States, including one in
Colorado Springs.
The property was the latest
of four sites near U.S. Highway
85 and East 76th Avenue that
GEP Investments sold following
Transwest’s relocation to a new
226,000-sf sales and service facil-
ity on the Interstate 76 corridor
in Brighton. Hutchison, a manu-
facturer of livestock and equine
equipment, purchased two of
the former sites, which were
adjacent to Hutchison’s opera-
tions. Transwest continues to
occupy two other properties in
the vicinity, and a site near East
68th and Colorado Boulevard is
under contract for sale. s
An affiliate of Bruckner Truck Sales bought the two large buildings in
the center of the photo.
John Segelke John Witt
by Jill Jamieson-Nichols
There are good transactions,
and there are transactions that
do good – like the sale of an
industrial property to Freedom
Service Dogs.
“It was a good example of the
real estate community coming
together to help an organiza-
tion that does a great service
for the community,” Tyler Reed
of JLL said of the $2.5 million
sale of 7193 and 7173 S. Dillon
Court in Englewood.
The 22,680-square-foot build-
ing and adjacent 1.2-acre lot
will enable Freedom Service
Dogs, which adopts dogs from
animal shelters and trains them
to be service dogs for disabled
veterans and others, to continue
to grow. The nonprofit has out-
grown facilities in Lakewood
and, most recently, an 11,000-
sf property in Englewood, and
has a long list of people waiting
to be paired with a canine best
friend.
“They will be overhauling
the property to really create a
state-of-the-art animal care and
training facility,” said Reed,
who represented the organiza-
tion with JLL’s Mitch Zatz. The
building will include adminis-
tration, training and placement
areas with land for kennels and
an outdoor yard.
“It will be an all-inclusive
facility that
will be a great
service to
the commu-
nity. Mitch
and I were
very proud
to be asso-
ciated with
the deal,” he
said.
Reed said
a group of real estate profes-
sionals, including architects,
contractors and brokers, came
together to make the deal hap-
pen.
At The Beach Tanning sold
the property, which had more
room than needed for its offic-
Freedom Service Dogs bought the building at 7193 S. Dillon Court in
Englewood.
Tyler Reed