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COLORADO REAL ESTATE JOURNAL
— September 21-October 4, 2016
Metro Denver
by Jill Jamieson-Nichols
DCT Industrial Trust’s newest
deal is a first for the Denver-
based company.
DCT owns nearly 2 million
square feet of industrial product
in the market but has never built
a building here.
“This is our first development
in Denver,” Mark Bowen, DCT
Industrial Trust senior vice presi-
dent, said of DCT Summit Distri-
bution Center.
“The reason we like this site so
much is what we are planning to
develop here is kind of the bread-
and-butter of Denver.”
DCT Summit Distribution Cen-
ter is a Class A, 168,000-square-
foot front-loading distribution
building that will be located at
East 40th Avenue and Salida
Street in Gate-
way
Park
in
Aurora.
A l t h o u g h
there
have
been several
large indus-
trial buildings
built for large
industrial ten-
ants coming
to
Denver,
“There hasn’t been a lot of devel-
opment, until recently, that can
accommodate the smaller users,”
said Bowen.
Slated to break ground in first-
quarter 2017, the state-of-the-art
building will house one or two
tenants. In addition to 32-foot
ceiling clearance and ESFR fire
protection, it will have a large
trailer court with excess trailer
parking, which Bowen said is
“unheard of” in this market.
Ware Malcomb is the architect.
The largest industrial real
estate investment trust focused
on North America, DCT has a
portfolio of approximately 72
million sf and is developing in
markets across the country. It
pursued development sites in
Denver for more than three years
before assembling the three par-
cels that comprise the 14.6-acre
DCT Summit site.
“Our focus is doing the right
deals, not necessarily a lot of
by Jill Jamieson-Nichols
Denver investors bought
neighboring creative office
buildings in Denver’s white-hot
River North area.
Walnut 29 LLC paid $2.4 mil-
lion, or $313.19 per square foot,
for a 7,663-sf office/showroom
building at 2901 Walnut. Little-
ton Group LLC, a group with
the same majority ownership,
subsequently bought 1141 29th
St., a 4,655-sf building directly to
the west. That building sold for
$1.27 million,
or $272.29 per
sf.
Phil Yeddis,
an executive
vice president
at
Unique
P r o p e r t i e s
I n c . - T C N
Worldwide,
was market-
ing the prop-
erty at 2901 Walnut for lease and
was getting “really good activ-
ity” when it was approached
about a possible sale.
“I said, ‘Make us an offer we
can’t refuse.’ So they did,” he
said.
The buyer reportedly has a
tenant for the recently vacated
building, but the tenant hasn’t
been identified.
Had it been listed for sale,
Yeddis said the property would
have received “tons” of inter-
est, as is the case with most
properties that come to market
in RiNo.
The building is located down
the street from Epic Brewing. It
features a unique, 24-foot-high
barrel-roof design. The structure
DCT Summit Distribution Center will house one to two tenants.
The building at 2901 Walnut sold for $313.19 per square foot.
Mark Bowen
Phil Yeddis
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