The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 15, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC...
Printer-friendly Version   Email an Associate
CentrePoint Properties Buys 99k sf CO Biz Park

11/03/23

CentrePoint Properties, a Denver-based commercial real estate investment firm, paid $16.65 mil for two industrial parks totaling 98.6k sf ($169/sf) across four buildings in Longmont, CO.

The properties are located at 1501-1551 S. Sunset St and 2120-2150 Miller Dr. The parks offer small bay industrial space, catering to tenants who need between 3.5k sf and 27k sf. The property was 93% leased to nine diverse tenants at the time of sale.

Jeremy Ballenger, Tyler Carner, Jessica Ostermick and Jim Bolt of CBRE represented the seller, Berkeley Partners, a national real estate investment firm.

“Small-bay industrial space is seeing strong tenant demand in today’s market. Small-bay properties boasted the lowest vacancy rates (2.3%) and accounted for 80% of all leases signed in metro Denver in 2022,” noted Ostermick. “Properties in the Longmont area are especially unique due to their flexibility in space configuration, ample car parking, hefty power and HVAC systems, and ability to offer distribution options between drive in and dock high. These features allow for a wider variety of uses and appeal to a large assortment of tenants, including technology, manufacturing and life sciences companies.”

Fundamentals remain relatively strong in the metro Denver industrial market as of the third quarter of 2023, with overall sales volume nearly tripling to $280.8 mil from last quarter’s $98 mil, according to CBRE research. Twenty-five industrial properties traded hands in the third quarter.





Return to the Archive page


 
 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media