Distribution Facility’s Long-Term Credit Tenancy, Location Key in Maximizing Value
A 220,000-square-foot class-A distribution center fully leased to the Home Depot recently sold to an undisclosed buyer for an undisclosed purchase price. The building is located at 1953 N. Gun Club Rd. in the Denver suburb of Aurora.
The Gun Club Road building was part of EverWest’s $3.6 billion in assets under management. This includes a Colorado portfolio totaling more than 2 million square feet of office and industrial space, and 304 multifamily units.
The mission-critical facility was constructed in 2012 as a build-to-suit for the Home Depot, which currently operates its Home Depo Pro business line out of this location. The building has the potential to be expanded by an additional 60,000 square feet and includes 24 additional trailer parking stalls on the east end of the 17.22-acre site.
This location at the northeast corner of Interstate 70 and E-470 is a prime logistics location with direct access to Denver International Airport and MSA. Additionally, the facility is within Prologis Park 70 and the I-70 East Industrial submarket.
Krystal Arceneaux, EverWest executive vice president and head of asset management, directed the disposition and management of the asset.
“EverWest has been fortunate to participate in this asset since its development. The building’s long-term credit tenancy and location in a class-A industrial park were key to maximizing value,” Arceneaux said.
Trent Agnew and Larry Thiel with JLL capital markets along with Carmon Hicks of the JLL industrial leasing team represented the seller.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.