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Brighton, CO

17795 County Road 6

Address:
17795 County Road 6, Brighton, CO 80603
Property Type:
Single Tenant
Price:
$1,100,000
Square Feet:
10,800 sqft
Lot Size:
5 acres
Price Per Square Foot:
$101.85
Year Built:
1999
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Investment Highlights

Investment Highlights

Investment Highlights

• Single-Tenant Industrial Property on Five Acres
• 10,800 Square-Foot Building Built in 1999 with 13 Drive-In Doors and Very Flexible Layout
• Property is Located in Unincorporated Weld County in an Opportunity Zone
• Two Miles North of Lochbuie at I-76/168th Avenue
• 15-Minute Drive to Brighton, Hudson, and Fort Lupton

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 17795 County Road 6, in Brighton, Colorado. The subject property, built in 1999, consists of approximately 10,800 square feet of warehouse space and is situated on five acres of land. The single-tenant asset features a flexible layout with 13 drive-in doors. Situated just two miles north of Lochbuie at Interstate 76 and 168th Avenue, the property is located in an Opportunity zone within an unincorporated area in Weld County. The property is within a 15-minute drive to the cities of Brighton, Hudson, and Fort Lupton.

The Weld County submarket has done well weathering the recent economic instability. At 5.3 percent, the vacancy rate stands just slightly above its 10-year average of 4.8 percent. Over the past year, net absorption came in positive at about 140,000 square feet. Rents grew by 3.5 percent over the past year, which is right in line with the impressive decade-long annual average. The 560,000 square feet currently under construction in Weld County represents 2.1 percent of inventory. This represents a continuation of new development in the submarket, which has delivered 1.6 million square feet over the past three years, equating to an inventory expansion of 6.4 percent (CoStar). With industrial properties trading with regularity last year, the Weld County has proven to be an expansive and fundamentally sound submarket.

A confluence of events turned Denver into one of the most active industrial markets in the country in the past decade. Robust demand in this regional market with strong economic growth this cycle is stemming from the growth of retail sales, employment, and industrial production in the metro area and the greater Colorado region. Furthermore, the emergence of the marijuana industry’s presence with the passing of Amendment 64 in November 2012 created a new demand driver this cycle, with new and relatively unsophisticated tenants operating with entirely different profit margins. Vacancies were below the long-term average even after 2019 shattered records with more than six million square feet of deliveries. Entering 2020, around 5.5 million square feet was under construction. Industrial rents are more than 60 percent above the peak of the previous cycle, one of the best performances in the nation. Investors remained enthusiastic about Denver’s industrial fundamentals by setting a record high for sales volume for the second straight year. More than $1.7 billion worth of assets traded in 2019, more than $200 million more than the previous year. Pricing continues to climb upward, albeit at a more modest pace than in past years, according to CoStar’s Pricing Trends. (CoStar)

BROKER OF RECORD
ADAM LEWIS
Colorado Broker of Record
1225 17th Street, Suite 1800
Denver, CO 80202
Tel: (303) 328-2050
adam.lewis@marcusmillichap.com
License: ER. 100091205
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2021 Marcus & Millichap. All rights reserved. (Activity ID: ZAC0050359)