Ambrose Property Group Acquires Ascent Commerce Center In Commerce City For $61 Million

The property assets involved in the transaction include three industrial locations situated at 17776 East 84th Avenue, 17956 East 84th Avenue, and 18146 East 84th Avenue in Commerce City, CO. The assets aggregate 595,000 square feet and were acquired for a total price of $61,000,000, translating to a price per square foot of $103. At the time of sale, the industrial park, known as Ascent Commerce Center, was 45.6% leased and was built in 2021.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $61,000,000
• Square Footage: 595,000
• Address: 17776 East 84th Avenue, 17956 East 84th Avenue & 18146 East 84th Avenue
• Market: Commerce City, CO
• Price per Square Foot: $103
• Buyer: Ambrose Property Group
• Brokers: Dean Wiley, Michael Matchett, Molly Hunt & Will Strong - Cushman & Wakefield
• Mortgage Brokers: Jonathan Groztzinger, Niki Krestchmann, Brian Share, Garrett Stasand, Lars Weston, Max Schafer & Robert Rubano - Cushman & Wakefield

The deal was facilitated through the efforts of multiple brokers from Cushman & Wakefield, representing both the buyer and facilitating mortgage arrangements. Notably, Ambrose Property Group completed the acquisition despite the property being partially leased, showcasing their investment strategy in the industrial market.