Brett MacDougall and Michael DeSantis of Unique Properties Announces the Following Sale:
Multi-Tenant Industrial Investment Sells for $2.9 Million in Lafayette, 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 1363 Horizon Ave in Lafayette, CO for $2,970,000 ($190/SF) at a 5.7% Cap Rate.
Brett MacDougall and Michael DeSantis, Vice Presidents, with Unique Properties, Inc. / TCN Worldwide, represented the Buyer & Seller in this transaction.
The Buyer, based out of California, was in a 1031 exchange and was looking to begin investing in flex/industrial properties in the Colorado Market. The Seller, has owned the property for over 12 months and has signed new leases, increased existing tenants’ rents, and improved the property. The property is 100% occupied by three long-term tenants in 15,570 SF of flex space, with a split of 75% warehouse & 25% office throughout the building.
The asset is located in the picturesque Vista Business Park of Lafayette, CO. Situated directly off the intersection of S. 120th St & Northwest Parkway; the area contains a variety of businesses and is within proximity to downtown Lafayette and many of the town’s amenities. This freestanding building offers beautiful mountain views and benefits from a strong nearby workforce and local economy.
“This was a perfect opportunity for our out-of-state buyer to find a stabilized multi-tenant industrial asset in a growing sub-market of Denver/Boulder. They were attracted to a strong rent roll of credit tenants and a flexible building for future users.” Brett MacDougall noted.
To schedule an interview with a Unique Properties Broker regarding this transaction, please contact: Katie Guardino at kguardino@uniqueprop.com or Brett MacDougall at bmacdougall@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 transactions 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.