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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale 1250 W. 124th (the “Property”), a 61K square foot high-bay warehouse located in Westminster, CO (Denver MSA). Located just one mile from the I-25 and W. 120th Ave interchange, the Property boasts 24’ clear height, four dock doors (10’), one drive-in door (14’), one platform dock for easy side-loading. The Property also has approximately 6K square feet of office space and is equipped with heavy power (2500 amps), a key differentiator in the submarket. Based on current zoning, an investor could also expand the Property by an additional ~32K SF.
The in-place tenant, Metalcraft Industries (the “Tenant”), who operates in the machining, sheet metal, and contract manufacturing industry, has occupied the building since it was constructed in 1997. In-place rents of $7.50 NNN and vacancy of 43%, create a compelling value-add opportunity in one of Denver’s hottest industrial submarkets.
- Strategic North Denver location with convenient access to I-25
- Supply-constrained micro-market and infill location
- Institutional submarket
- Highly-functional and versatile asset with expansion potential
- Strong submarket fundamentals including declining vacancy, and 7% YOY rent growth