Michael DeSantis & Brett MacDougall of Unique Properties Announces the Following Sale:
Industrial Property Sells for $2.62 Million in Arvada, CO
Unique Properties, Inc. / TCN Worldwide, Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, is proud to announce the sale of 5540-5564 Gray Street, Arvada, CO 80002. Michael DeSantis and Brett MacDougall, with Unique Properties, Inc. / TCN Worldwide, were the exclusive agents in the transaction. The property sold for $2,620,000 or $175/SF.
The sale of 5540 Gray Street, a 15,000 square foot warehouse located in the highly sought-after Arvada/North Denver submarket, has officially closed. The building was approximately 16% occupied at the time of sale.
The new ownership group plans to initially occupy 2,500 square feet of space for their own business operations, with intentions to expand into more of the building as their business grows. In the near term, they will actively lease the remaining space to generate income.
“This is a great building in a supply-constrained submarket where functional small-bay industrial spaces are incredibly hard to find,” said the brokers. “The building is perfectly configured with five (5) separate units ranging from 2,500 to 5,000 square feet — the kind of space nearly every industrial Buyer in the market is looking for” stated Michael DeSantis, Vice President of Unique Properties.
Despite the strong fundamentals, the property had its challenges. All the existing tenants’ leases expired within a short timeframe, and one eviction led to the building being nearly 100% vacant within three months. As a result, the property sat on the market for about six months.
“We needed a very specific buyer — someone who needed space for their business, wanted to invest in income-producing property, and was willing to take on the role of landlord,” the brokers added. “It took time, but we found the right buyer, and this closing is a testament to the tenacity and persistence of everyone involved in the transaction.”
The sale further highlights continued demand from owner-users and investors for well-located, functional warehouse space across the Denver metro area, particularly in areas like Arvada where supply remains limited.
Michael DeSantis and Brett MacDougall of Unique Properties represented both the buyer and the seller in the transaction.
To schedule an interview with a Unique Properties Broker regarding this transaction, please contact: Katie Guardino at kguardino@uniqueprop.com.
About Unique Properties, Inc. / TCN Worldwide
Unique Properties, Inc. / TCN Worldwide is Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, providing solutions for a full range of property types including office, industrial, retail, land and multifamily. Unique Properties, Inc. provides clients with local know-how on a global scale through our association with TCN Worldwide, an affiliation of independent real estate firms in more than 200 markets with 62 offices in eight countries, throughout in North and South America, Europe, and Asia. The combination of Unique Properties’ global resources, creative solutions, experience, and strong leadership has resulted in production volume locally of over 450 commercial real estate transaction in 2021. We have been operating successfully for over 40 years and are acknowledged as an industry leader, providing services at the caliber of a global leader while maintaining the personal attention of a focused, privately owned firm committed to trust and excellence. For more information about the services provided by Unique Properties, Inc. / TCN Worldwide, please visit uniqueprop.com.