Colorado Real Estate Journal -

Exchange buyer pays $2.69m for manufacturing facility

by Jill Jamieson-Nichols

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A group that sold a large manufacturing building in Northern Colorado earlier this year has exchanged into a third property in Denver.

Deline Cornerstone LLC paid $2.69 million, or $53.75 per square foot, for a 50,000-sf warehouse building at 11255 E. 37th Ave.

The building was acquired as an investment and is fully leased to a tenant, according to CBRE broker Murray Platt, who represented the buyer with CBRE’s Jim Bolt.

Byron Johnson of NAI Shames Makovsky represented the seller.

Oldcastle Glass occupies the property, which was built in 1978.

The property was not being marketed for sale.

The building is the third property Deline Cornerstone, a real estate ownership group for Deline Box & Display, has acquired as part of a 1031 exchange for a 145,728-sf property in Windsor that it sold earlier this year for $6 million. It also is the second building Deline Cornerstone purchased from Valley Garden LLC at 37th and Lima Street. The property is across the street from Deline’s packaging materials plant.

Other News

-Skinner Investments paid $850,000 for an 18,898-square-foot industrial building at 4660 Ironton St. in Denver. A user will occupy the building, which was vacant at the time of the sale.

Cassidy Turley Colorado brokers Tyler Smith, Alec Rhodes and Aaron Valdez represented the seller, Nicholas J. Dumas. Tim Shay and Drew Weiman of Colliers International represented the buyer.

-Pittsburgh Glass Works sold a 58,156-sf industrial building with a 6,300-sf mezzanine at 590 Quivas St. in Denver to Modern Holdings LLC for $800,000. A user will occupy the property, which had significant deferred maintenance, according to Cassidy Turley Colorado broker Dan Bess. Bess and Craig Myles of Cassidy Turley Colorado represented the seller.