Colorado Real Estate Journal - June 17, 2015
The trend toward redevelopment of industrial properties in Denver’s River North neighborhood continues with the off-market sale of a 61,954-square-foot building and adjacent land at 3201 and 3000 Walnut St. WSM Properties, which is affiliated with sheet-metal company WSM Industries, 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, said Aaron Valdez of DTZ. Valdez, who represented Parkhill 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 company is led by Bill Parkhill, who has been buying and selling properties 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 represented the Larson family in the sale of the Broadway property.