Coors Sells Distribution Building for $3M

Murray Platt, who handled the transaction with fellow Trammell Crow Co. broker Doug Viseur, tells GlobeSt.com that Dakota paid just under $2.6 million for the building. At the time of the listing, Platt and Viseur were with Grubb & Ellis.

Coors sold the center because it has moved into a state-of-the-art, 210,000-sf facility at 5400 N. Pecos St. that ProLogis built for it.

With the new facility, Coors no longer needed the older facility, which sits on 5.3 acres and features cooler storage, 18-ft clearance and dock and drive-in loading.

The buyer will expand from a 12,000-sf building at 1280 W. Alameda Ave. The older facility was built in phases in 1968 and 1984, Platt tells GlobeSt.com.

"Over the last five years, in Denver and Adams counties, on average, there are only four sales over 50,000 sf for industrial users," Platt tells GlobeSt.com. "A variety of users tired to make the Coors space work for them," he adds.

While the glass company doesn't need the 40,000 sf of cooler space, it is using that area for distribution, he tells GlobeSt.com. "They will use the building very similarly to how Coors used it," he tells GlobeSt.com. "They have a drive-thru area for distribution and receiving. Coors used it to receive and ship beer, and Dakota will get their glass from 18-wheelers, and then it will be picked up and shipped out by pick-ups and small trucks."