Downtown Denver Facility Fetches $114M
A JV of Karis Capital and AEW sells the newly developed class A warehouse/distribution building totaling 147,000 square feet.
DENVER—Cushman & Wakefield has advised the joint venture of Karis Capital and AEW in the disposition sale of a newly developed class A warehouse/distribution building totaling approximately 147,000 square feet in downtown Denver, Colorado.
The property is 100% leased to a global Fortune 100 e-commerce company. Developed in 2021, the single-tenant facility located at 875 W 64th Ave sold to a national real estate investment, development and management firm for $114 million.
Executive Managing Director Will Strong, Vice Chairmen Jeff Chiate and Jeffrey Cole, Director Mike Adey, Associate Greer Oliver, and Analyst Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented Karis Capital and AEW in the transaction. The firm’s Matt Trone, Steve Hager, Drew McManus, Ryan Searle and Joey Trinkle also provided market leasing advisory.
“This was an exceptional investment asset with a superior tenant and a premier location defined by its excellent access to major freeways and the entire Denver Metro,” said Will Strong in a prepared statement. “Denver is poised for continued growth and sustainability, with a strong population growth rate that has far outpaced the national average the past decade—as it has the last nearly hundred years—coupled with steady employment.”
He adds that “Therefore, these types of distribution facilities are important to help serve the needs of the current and future residents in the region.”