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Office Warehouse

Western Maintenance & Construction

1795 W Yale Ave, Englewood, CO 80110

Listing Price: $3,155,700

Cap Rate
1.97%
Gross SF
26,800
Price/Gross SF
$117.75
Lot Size
1.02 acres
Year Built
1970
Rentable SF
26,800

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1795 West Yale Avenue in Englewood, Colorado. The subject property consists of approximately 26,800 square feet of industrial and office space and is situated on 1.02 acres of land. The asset features 22 clear heights, with two grade level doors and one drive-in door. The property includes two offices with separate entrances, allowing for multiple tenants. The tenant, Western Maintenance and Construction, specializes in construction, snow removal, mitigation, restoration and project management for residential and commercial clients. With 20 percent of the property leased on a 5-year triple net term, the asset is ideal for an owner-user or investment. Located in an opportunity tax zone, the property has proximate access to Interstate 25 and US Highway 285 via Santa Fe Drive.

The subject property is located in Lower South Central, a midsized submarket containing around 8.4 million square feet of industrial space. With a vacancy rate of just 4 percent, the recent economic instability has not severely impacted the submarket. While net absorption was negative over the past year, industrial rents continued to increase by 2.2 percent. The 4,500 square feet currently underway in Lower South Central represents only a fractional increase to the inventory. This represents a continuation of new development in the submarket, in which 17,000 square feet was delivered over the past three years. Industrial properties traded with regularity last year, consistent with the generally high level of activity over the past three years.

A confluence of events turned Denver into one of the most active industrial markets in the country in the past decade. Robust demand in this regional market with strong economic growth this cycle is stemming from the growth of retail sales, employment, and industrial production in the metro area and the greater Colorado region. Furthermore, the emergence of the marijuana industrys presence with the passing of Amendment 64 in November 2012 created a new demand driver this cycle, with new and relatively unsophisticated tenants operating with entirely different profit margins. Vacancies were below the long-term average even after 2019 shattered records with more than six million square feet of deliveries. Entering 2020, around 5.5 million square feet was under construction. Industrial rents are more than 60 percent above the peak of the previous cycle, one of the best performances in the nation. Investors remained enthusiastic about Denvers industrial fundamentals by setting a record high for sales volume for the second straight year. More than $1.7 billion worth of assets traded in 2019, more than $200 million more than the previous year. Pricing continues to climb upward, albeit at a more modest pace than in past years, according to CoStars Pricing Trends. (CoStar)

Investment Highlights

  • Possible Owner/User or Investment Property
  • Two Separate Office Spaces and Entrances Allows for Multiple Tenants
  • Warehouse has 22 Clear-Height with Two Grade-Level Doors and One Drive-In Door
  • 20% of the Building is Leased with a Five Year NNN Lease
  • Located in an Opportunity Tax Zone
  • Proximate to Santa Fe Drive for Easy Access to Highways I-25 and 285

Exclusively Listed By

Office Warehouse

Western Maintenance & Construction

Listing Price: $3,155,700

Cap Rate
1.97%
Gross SF
26,800
Price/Gross SF
$117.75
Lot Size
1.02 acres
Year Built
1970
Rentable SF
26,800

Investment Highlights

  • Possible Owner/User or Investment Property
  • Two Separate Office Spaces and Entrances Allows for Multiple Tenants
  • Warehouse has 22 Clear-Height with Two Grade-Level Doors and One Drive-In Door
  • 20% of the Building is Leased with a Five Year NNN Lease
  • Located in an Opportunity Tax Zone
  • Proximate to Santa Fe Drive for Easy Access to Highways I-25 and 285

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1795 West Yale Avenue in Englewood, Colorado. The subject property consists of approximately 26,800 square feet of industrial and office space and is situated on 1.02 acres of land. The asset features 22 clear heights, with two grade level doors and one drive-in door. The property includes two offices with separate entrances, allowing for multiple tenants. The tenant, Western Maintenance and Construction, specializes in construction, snow removal, mitigation, restoration and project management for residential and commercial clients. With 20 percent of the property leased on a 5-year triple net term, the asset is ideal for an owner-user or investment. Located in an opportunity tax zone, the property has proximate access to Interstate 25 and US Highway 285 via Santa Fe Drive.

The subject property is located in Lower South Central, a midsized submarket containing around 8.4 million square feet of industrial space. With a vacancy rate of just 4 percent, the recent economic instability has not severely impacted the submarket. While net absorption was negative over the past year, industrial rents continued to increase by 2.2 percent. The 4,500 square feet currently underway in Lower South Central represents only a fractional increase to the inventory. This represents a continuation of new development in the submarket, in which 17,000 square feet was delivered over the past three years. Industrial properties traded with regularity last year, consistent with the generally high level of activity over the past three years.

A confluence of events turned Denver into one of the most active industrial markets in the country in the past decade. Robust demand in this regional market with strong economic growth this cycle is stemming from the growth of retail sales, employment, and industrial production in the metro area and the greater Colorado region. Furthermore, the emergence of the marijuana industrys presence with the passing of Amendment 64 in November 2012 created a new demand driver this cycle, with new and relatively unsophisticated tenants operating with entirely different profit margins. Vacancies were below the long-term average even after 2019 shattered records with more than six million square feet of deliveries. Entering 2020, around 5.5 million square feet was under construction. Industrial rents are more than 60 percent above the peak of the previous cycle, one of the best performances in the nation. Investors remained enthusiastic about Denvers industrial fundamentals by setting a record high for sales volume for the second straight year. More than $1.7 billion worth of assets traded in 2019, more than $200 million more than the previous year. Pricing continues to climb upward, albeit at a more modest pace than in past years, according to CoStars Pricing Trends. (CoStar)

Exclusively Listed By

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