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January 3-16, 2018 - Page 11
Industrial
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level of opportunity will focus on
older, antiquated industrial real
estate, especially ones located on
larger landparcels andwith a larg-
er-than-average footprint.”
Denver’s nearby River North
neighborhood has been a hotbed
of investor activity, but Gruber
said opportunities there have
dwindled. “RiNo does not have
any industrial buildings for sale
that are larger than 30,000 square
feet, while the National Western
neighborhood currently offers six
industrial buildings for sale that
are more than 30,000 square feet.
This is a significant difference that
will further spur activity in the
National Western neighborhood,”
he said.
“Denver is booming, both eco-
nomically and culturally,” com-
mentedMedley. “This is anoppor-
tunity to redevelop this industrial
space for anewuse in linewith the
transforming National Western
neighborhood’s rapid growth.”
Emily Klimas of SullivanHayes
Brokerage represented the buyer
in the transaction.
Other News
■ Precision Equipment Place-
ment, also known as PEPMOVE,
signed a five-year lease for 44,264
square feet of Class B warehouse
space at 14603 E. Moncrieff Place
in Moncrieff Business Center
in Denver. The space is nearly
twice as large as the company’s
previous location.
Moncrieff Business Center is
located just off Interstates 70 and
225 in northeast Denver.
“PEPMOVE, similar to many
industrial tenants in Denver,
continues to grow in one of the
nation’s most flourishing indus-
trial markets. Their growth is
a testament to the strong mar-
ket fundamentals and indicates
Denver is still a growing mar-
ket and will long need users
like PEPMOVE as they fall right
in line with Denver’s average
industrial tenant size,” said JLL
broker Jason White.
“In addition to expanding
their operations, PEPMOVE also
wanted to secure a location that
would allow the company to
more efficiently serve its client
base. Moncrieff Business Center
places them next to two major
interstates, with quick access
in all directions,” said White,
who represented the tenant with
JLL’s Nick Steitz.
PEPMOVE focuses on deliv-
ery, installation and storage of
high-value, sensitive electronics
or large equipment such as copi-
ers, medical equipment, servers,
gun safes, fitness equipment and
heavy industrial equipment.
Etkin Johnson Real Estate
Partners owns Moncrieff Busi-
ness Center.
■ Namaste Solar purchased
a 24,427-sf industrial building at
888 Federal Blvd. in Denver from
Sun Valley Ecodistrict Trust for
$2.48 million.
The building, which for many
years housed Reed Art & Imag-
ing, was vacant at the time of
the sale.
Dorit Fisher, Hayden
Hirschfeld and Joey Gargotto
of NAI Shames Makovsky rep-
resented Sun Valley Ecodistrict
in the sale.
Tanner Mason and Jeff
Mason of Benchmark Commer-
cial LLC represented Namaste
Solar, which currently occupies
two locations across the street
from one another in the River
North Art District.
“They have had strong growth
and needed a more efficient
operation under one Denver
roof,” said Tanner Mason. Mason
said Namaste intends to be a
long-term partner in the Sun
Valley neighborhood and make
the “significant investment” in
improvements the building
needs. The property will house
the company’s warehouse and
office operations.
■ United States Building Sup-
ply Inc. leased 35,000 sf of high-
cube warehouse space at Com-
merce Business Park, Building
6, 485 E. 52rd Ave., Unit B, in
Denver.
John V. Propp of John Propp
Commercial Group represented
the tenant in the lease of the first-
generation space.
According to Propp, United
States Building Supply owns a
nearby building at Interstate 70
and Quebec Street and needed
additional space. The company
sometimes buys “huge” loads
of inventory to get lower pric-
ing and needed space to store
that inventory. It plans to build
a 5,000-sf showroom at the loca-
tion, Propp said.
■ Cold Warehouse LLC, man-
aged by a Denver investor, pur-
chased a 13,550-sf freezer/cooler
building at 9355 Elm Court in
Federal Heights for $1.4 million.
The building is net-leased to
Epicurean Butter, according to
Jeff Kummer of Altitude Com-
mercial Realty. Altitude Com-
mercial represented the seller,
GSL Group Inc.▲
The property at 4920 N. Washington in Denver is next to the National Western Stock Show Complex.