Denver Industrial Park Flips for $21.5M

Graham Street Realty has sold Commerce Square, two light industrial buildings totaling 145,242 square feet in Aurora, Colo. Midtown National Group purchased the buildings for $21.5 million. Commercial Edge reports, the acquisition was financed with a $8.8 million loan from Nationwide Insurance Co. JLL Capital Markets worked on behalf of the seller and procured the buyer. 

At the time of the sale, Commerce Square was leased to 12 tenants including Frontier Business Products, PARTpoint, Grane RX, ExperiGreen, Berendsen Fluid Power and Colorado Automation and Design.

Commerce Square previously traded in 2020, when Graham acquired it for $16 million from First Industrial Realty Trust. A JLL team represented the seller back then as well.

Completed in 1985, Commerce Square comprises two one-story buildings with rear-loading configurations, 18-foot clear heights, 38 docks, 11 drive-in doors, climate control and 265 parking spaces.

The Denver metro ranked third for industrial construction among the western markets as of November.

Hear from experts at the Connect Industrial Midwest 2024 event on March 5 at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.