DALLAS, June 26, 2024 /PRNewswire/ -- Dalfen Industrial has finalized the disposition of two Denver-area assets totaling ~150,000 square feet of industrial space in April 2024.
I-70 Industrial Center was acquired by Dalfen Industrial in August 2019. The industrial center consists of 2 light industrial-warehouse buildings totaling 77,222 SF located in Denver, CO. The property is located in the Upper North Central Industrial Submarket directly off I-70 and just a quarter of a mile from I-25, the region's two major highways. It's also in close proximity to Denver International Airport as well as both the BNSF and Union Pacific Rail Yards. During its ownership Dalfen made strategic upgrades and was able to meaningfully increase NOI. This sale was arranged by CBRE and purchased by Armstrong Capital Development, a Denver based real estate fund operator. Other tenants in the area are Fedex Home Delivery and Amerisource Bergen.
Aurora Center I was acquired by Dalfen Industrial in April 2020. It is a 75,000 Class A industrial building in Aurora, CO. This location is ideal for last mile distribution as it is situated nearly halfway between Downtown Denver and Denver International Airport with great access to Interstate 70 and in close proximity to other major metro arteries Interstate 225, State Highway 470, Interstate 270 and Interstate 25. The 2003 build features side and rear-load building constructed in 2003 with a fully gated, secured truck court, trailer parking, and additional land on the east side of the building that could be used as additional trailer parking or as a potential 30,000 SF building expansion. This property was purchased by Wanko, a design, engineering and manufacturing firm through a marketing campaign successfully executed by Cushman & Wakefield. Other tenants in the area are U-Haul and DHL.
"We felt the quality and relatively smaller size of these deals would be well received, and when combined with a lack of competitive offerings, the timing of the sale was ideal," said John Block, Dalfen's Market Lead for Denver.
Rich Weiss, Dalfen Industrial's Senior Vice President for the Western U.S. region, added, "On the heels of these successful exits, we're actively seeking to grow our presence in Denver via the acquisition of buildings, development sites and IOS properties."
Dalfen Industrial currently owns and operates over 55 million square feet of industrial space in the United States.
About Us
Dalfen Industrial LLC, headquartered in Dallas, is one of the largest privately owned industrial real estate firms in the United States and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen owns and operates over 55 million square feet of premier industrial properties throughout the United States. For more information, please visit www.dalfen.com.
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SOURCE Dalfen Industrial
Originally published at https://www.prnewswire.com/news-releases/dalfen-industrial-sells-two-denver-area-assets-302182319.html
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