Colorado Real Estate Journal - February 3, 2016
In a market where large industrial investment properties don’t come around often, the $53.23 million sale of Dartmouth Industrial Park is a standout. The 663,247-square-foot warehouse/distribution property along South Platte River Drive in Englewood sold for $80.25 per sf, according to public records. Records list the buyer as Cabot IV-CO1MO5-MO7LLC, which is affiliated with Boston-based Cabot Properties Inc. Cabot Properties and others involved in the transaction didn’t return phone calls regarding the deal. The seller was Realty Associates Fund VIII LP, a TA Associates Realty affiliate that bought the property for $39.3 million in 2008. Dartmouth Industrial Park is a well-known industrial property in Denver’s south-central industrial submarket. It consists of three buildings on 36.76 acres at 3101-3151, 3155-3199 and 3201-3273 S. Platte River Drive. The park has a history of high occupancy and was believed to be 100 percent occupied at the time of the sale with one space coming available in March. There are 20 national and regional credit tenants, many of which have been at the property for several years. They include Discount Tire, Denver Athletic Supply and others. Dartmouth Industrial Park was built in 1974. It features twin-T construction, dock-high and drive-in loading, 22-foot clear height and rail service. It has access to South Santa Fe Drive and U.S. Highway 285. Colliers International brokers T.J. Smith, Brad Calbert and Tom Stahl had the listing on the property. Dartmouth Industrial Park is believed to be the largest industrial property to sell in the Denver market since DCT Industrial purchased the 689,557-sf Airport Distribution Center for $46.6 million in the first quarter of last year.