Industrial building sold for $3.99 million
Last Updated: 15:26 November 15, 2013
Flagstaff Holdings 224 LLC bought the property from 226 Commerce LLC, an entity based in Greenwood Village, according to documents from the Colorado secretary of state's office.
Andrew Freeman, managing broker at Freeman Myre Inc., is the managing member of Flagstaff Holdings 224 LLC. The same group purchased neighboring 224 Commerce St., occupied by national printing company Signature Offset, for $2.61 million in January.
Freeman said that 226 Commerce is fully leased by a trio of tenants: Puregas LLC, a manufacturer of air-pressurization systems for the telecommunications industry; French outdoor clothing and gear manufacturer Lafuma America Inc.; and mobile merchandising systems company Carts of Colorado Inc.
Freeman Myre will manage both 224 and 226 Commerce, which sit just northeast of the junction of U.S. Highway 36 and Wadsworth Parkway. All of the tenants are on three to five year leases, and Freeman said the property was bought as a longterm hold. He said no redevelopment is in the current plans."There seems to be a shortage of decent basic warehouse space along Highway 36," Freeman said.
Jeremy Kroner of CBRE represented the seller in the 226 Commerce deal.
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