Wednesday, October 16, 2019

BKM Capital Partners Acquires 150,245-SF Industrial Business Park in Denver, CO for $14.7 Milion


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 Crossroads Distribution Center, Central East I-70/Montbello submarket of Denver, CO

DENVER, CO – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, light industrial multi-tenant investments, has acquired Crossroads Distribution Center, a 14-unit industrial asset consisting of three single-story distribution warehouse buildings totaling 150,245 square feet in the Central East I-70/Montbello submarket of Denver, Colorado.

BKM acquired the property from KEW Realty, a private local seller, in an off-market transaction for $14.75 million.

“This was a rare opportunity to acquire a well-occupied industrial business park, strategically located in the most desirable and one of the fastest-growing industrial submarkets of Denver,” says BKM Capital Partners Managing Director of Acquisitions, Brett Turner.

Brett Turner

 “Vacancy in the Central East I-70/Montbello submarket is 2.4%, with no new deliveries scheduled that will compete in unit size to Crossroads Distribution Center, making this area and property ideal for our portfolio.”

Crossroads Distribution Center is strategically located off I-70, 25 minutes from Denver’s Downtown business district, offering easy access to the Denver airport, I-70, I-25, Downtown Denver, and Denver Tech Center.


Originally constructed in 1973, Crossroads Distribution Center is 90% leased to 12 tenants and features a mix of grade level, full-dock, and half-dock loading.

 The firm plans to rebrand the asset as Havana 37 Business Center and will invest approximately $1.2 million in capital improvements to upgrade the roof, HVAC system, and parking lot, notes Turner.

Crossroads Distribution Center is located at 3700 Havana Street in Denver, Colorado.

BKM represented itself in the off-market acquisition. The seller, KEW Realty, also represented itself.

Contacts:

Alex Caswell and Lexi Astfalk
Brower Group
(949) 438-6262

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