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1550 East 73rd Avenue

EverWest Real Estate Investors Acquires 194.7K SF Industrial Property In Denver, CO For $39.6M
SOLDIndustrial

EverWest Real Estate Investors Acquires 194.7K SF Industrial Property In Denver, CO For $39.6M

1550 East 73rd Avenue & 1210 East 73rd Avenue

$39,600,000

$101/SF

Building Size

194,710 SF

Asset Type

Industrial

Closing

May 11, 2023

AI

EverWest Real Estate Investors has acquired the Central Connection, a 194,710-square-foot industrial property located at 1550 & 1210 East 73rd Avenue in Denver, CO's North Central submarket. The property was sold by Comunale Properties and J.P. Morgan Asset Management for a total of $39.6 million. The transaction was completed on 05/11/2023.

Summary of transaction details

  • Property Type: Industrial
  • Sale Price: $39,600,000
  • Square Footage: 194,710
  • Price per Square Foot: $203
  • Address: 1550 & 1210 East 73rd Avenue, Denver, CO
  • Market: Denver, CO

The brokers involved in the deal were Jeremy Ballenger, Jessica Ostermick, Jim Bolt, and Tyler Carner from CBRE, representing EverWest Real Estate Investors.

Players

Tyler Carner

CBRE

Broker

$166.4M

vol

5 deals

Broker
EverWest Real Estate Investors
EverWest Real Estate InvestorsBuyer

Denver Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.40%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93