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12/23/24
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A 31.1k sf industrial building on 4.94 acres in Denver was purchased by Industrial Outdoor Ventures (IOV) in a $5.68 mil ($183/sf) deal.
Located at 3750 Nome St, the IOS property features 24k sf of clear span warehouse space along with 22’ clear, dock-high and oversized drive-in loading, and heavy power. The property provides immediate access to I-70 and is near various restaurant and hotel options.
Sam Dragan and Mike Camp of CBRE represented the seller, Box Land LLC., in the sale. Dragan and Camp also represented IOV as the landlord in a seven-year lease transaction with Lakin Tire at the property. The lease was completed within one month of IOV purchasing the property. Lakin Tire was represented by Steve Serenyi of Colliers.
In Q3 2024, vacancy across the metro Denver industrial market fell to 7.7%, a slight decrease from the previous quarter, according to CBRE Research. During this time, total leasing volume exceeded 3.6 msf in the market, a 59.9% increase compared to Q3 2023.
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