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3250 Quentin Street

Midtown National Group Acquires Commerce Square In Aurora For $21.5M
SOLDIndustrial

Midtown National Group Acquires Commerce Square In Aurora For $21.5M

3250 Quentin Street & 3251 Revere Street

$21,500,000

$74/SF

Building Size

290,484 SF

Asset Type

Industrial

Closing

Feb 26, 2024

AI

Commerce Square, a pair of light industrial buildings spanning 145,242 square feet in Aurora, Colo., was sold by Jay Snover of Graham Street Realty to Daron Young of Midtown National Group for $21.5 million. The sale price equated to approximately $148 per square foot.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $21,500,000
  • Address: 3250 Quentin Street & 3251 Revere Street
  • Market: Aurora, CO
  • Buyer: Daron Young - Midtown National Group
  • Seller: Jay Snover - Graham Street Realty
  • Brokers: Larry Thiel, Rob Key & Ryan Sitov - JLL
  • Lender: nationwide-insurance-co-duplicate''>Nationwide Insurance Co

The deal's key individuals and companies involved in the transaction include Larry Thiel, Rob Key, and Ryan Sitov from JLL who represented the parties as brokers in the deal. Additionally, Nationwide Insurance Co served as the lender facilitating the transaction.

Players

Ryan Sitov

JLL

Broker

$995.7M

vol

12 deals

Broker
Nationwide
NationwideLender

Aurora 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

0.74%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93