Colorado Real Estate Journal - September 21, 2016
A manufacturing facility on just over 16 acres of land in Henderson recently sold to a local family investment company for $10.53 million, or $104.74 per square foot. Merritt Professional Properties LLC bought the 100,490-sf building at 9461 Willow Court from Compression Systems LLC. The property serves as UE Compressions’ corporate headquarters. “Merritt Professional Properties has been a longtime landowner in the area. They were extremely familiar with the area and it fit their investment criteria for their 1031 exchange,” said Unique Properties Inc.-TCN Worldwide Executive Vice President Sam Leger. UE Compressions leases the property on a long-term basis. Completed in 2012, the building was a build-to-suit for the tenant and has 34-foot clear height, 16 30-foot overhead doors, seven cranes and heavy power. Those features along with the large site “made the property quite attractive,” said Leger, who represented the buyer with Tim Finholm, also an executive vice president at Unique Properties. It generated strong interest from both institutional and private users based on the long-term lease and quality construction, said Jeremy Ballenger, vice president in industrial properties at CBRE. Ballenger represented the seller with CBRE’s Jim Bolt and Tyler Carner. Other News Frozen Food Express leased 33,127 square feet of freezer/ cooler/food production space at the Colorado Trade Center, 5151 Bannock St. in Denver. Tyler Smith and Craig Myles of Cushman & Wakefield represented the landlord, Conscience Bay Co. Mike Wafer and Steve Fletcher of Newmark Grubb Knight Frank represented Frozen Food Express.