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
Aurora Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
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