{"id":1004549942,"date":"2021-09-07T03:41:59","date_gmt":"2021-09-07T11:41:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004549942"},"modified":"2022-12-08T20:48:59","modified_gmt":"2022-12-09T04:48:59","slug":"suburban-denver-e-commerce-facility-commands-114m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/suburban-denver-e-commerce-facility-commands-114m\/","title":{"rendered":"Suburban Denver E-commerce Facility Commands $114M"},"content":{"rendered":"
\"875<\/a>

875 W. 64th Ave., North Washington, Colo.<\/p><\/div>\n

A joint venture of Karis Capital\u2014as developer\u2014and AEW\u2014as capital partner\u2014has sold a newly developed Class A warehouse\/distribution building in north suburban Denver for $114 million. Cushman & Wakefield advised the sellers.<\/p>\n

The buyer of the approximately 147,000-square-foot property was not disclosed, only described as a national real estate investment, development and management firm.<\/p>\n

The property, completed this year, is fully leased to an unidentified global Fortune 100 e-commerce company.<\/p>\n

Its location, at 875 W. 64th Ave., puts the development in the unincorporated village of North Washington, in Adams County, just north of I-76 and just west of I-25, only a few miles west of Rocky Mountain Arsenal National Wildlife Area.<\/p>\n

The overall site is 37.3 acres, a Cushman & Wakefield spokesperson told Commercial Property Executive<\/em>, which seems to raise the possibility of further development there in the future.<\/p>\n

\n

READ ALSO<\/strong>: The Industrial Subset That\u2019s Even \u2018Stickier\u2019 Than Traditional Warehouses<\/a><\/p>\n

\n

Cushman & Wakefield Executive Managing Director Will Strong, Vice Chairmen Jeff Chiate and Jeffrey Cole, Director Mike Adey, Associate Greer Oliver, and Analyst Connor Nebeker-Hay, all of the National Industrial Advisory Group, represented Karis Capital and AEW in the transaction. The firm\u2019s Matt Trone, Steve Hager, Drew McManus, Ryan Searle and Joey Trinkle also provided market leasing advisory.<\/p>\n

Strong said in a prepared statement that the property was \u201can exceptional investment asset with a superior tenant and a premier location defined by its excellent access to major freeways and the entire Denver Metro.\u201d He added that \u201cDenver is poised for continued growth and sustainability, with a strong population growth rate that has far outpaced the national average the past decade \u2026 coupled with steady employment.\u201d<\/p>\n

Back to normal?<\/h2>\n

The metro Denver industrial real estate market could be heading into better supply-demand balance, with a more diverse group of tenants absorbing somewhat more modest spaces, versus a spate of 1 million-square-foot build-to-suits seen earlier this year, according to a second-quarter report from JLL.<\/p>\n

Currently, there\u2019s 9.9 million square feet of industrial space in the pipeline, and while total vacancy (at 6.7 percent) is a post-2011 peak, asking rents are\u2014at least for now\u2014holding fairly steady, with stable concessions.<\/p>\n

Last February, AEW sold the two-building<\/a>, 235,400-square-foot Lanark Distribution Center in San Antonio to Albany Road Real Estate Partners for an undisclosed amount.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cushman & Wakefield represented the sellers in the transaction.<\/p>\n","protected":false},"author":882,"featured_media":1004549952,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21808,21748,21783,21742,15],"tags":[33758,37166,32799,32914,32796],"class_list":["post-1004549942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-featured","category-industrial","category-investment","category-latest","category-west","tag-aew-capital-management","tag-aew-global","tag-cushman-wakefield","tag-e-commerce","tag-jll"],"acf":[],"yoast_head":"\nSuburban Denver E-commerce Facility Commands $114M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/suburban-denver-e-commerce-facility-commands-114m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suburban Denver E-commerce Facility Commands $114M\" \/>\n<meta property=\"og:description\" content=\"Cushman & Wakefield represented the sellers in the transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/suburban-denver-e-commerce-facility-commands-114m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-07T11:41:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:48:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/09\/875-W.-64th-Ave.-North-Washington-Adams-County.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1206\" \/>\n\t<meta property=\"og:image:height\" content=\"905\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/suburban-denver-e-commerce-facility-commands-114m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/suburban-denver-e-commerce-facility-commands-114m\/\",\"name\":\"Suburban Denver E-commerce Facility Commands $114M - 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