Marcus & Millichap is pleased to present the opportunity to acquire the property located at 7499 East 41st Avenue in Denver, Colorado, leased to Traffic Management Inc. The subject property consists of approximately 10,451 square feet of flex space and is situated on 2.9 acres of land. The single-tenant asset features a clear height of 18’, metal construction, two grade-level doors, one truck well, and 25 parking spaces. With a building coverage ratio of 8 percent, the property has ample industrial outdoor storage space. Zoned for industrial mixed-use (I-MX-5), the property can also accommodate future development. Located just off Interstate 70, the property is about a 15-minute drive from Downtown Denver and a 20-minute drive to the Denver International Airport.
Traffic Management Inc. (TMI) is signed to a triple-net lease through September 2024 at $14.64 per square foot. Established in 1995, TMI is the largest privately-owned minority business based in the U.S. TMI is a leading provider of products and services that include traffic control services, engineering, equipment rentals, product sales, sign manufacturing and installation, and round-the-clock emergency dispatch response. TMI maintains nearly 50 locations coast-to-coast from California to New Jersey (TMI).
The subject property is situated in the Quebec Street submarket, containing 11.5 million square feet of industrial space. The mid-sized submarket is one of Denver’s original industrial hubs with 72 percent of the inventory constructed before 1990. In 2023, the vacancy rate bucked the national trend and dropped to a near record-low of 2.1 percent, sitting 5.3 percentage points lower than the market average. Asking Rent Growth slowed last year to 6.8 percent but continued to outpace the Consumer Price Index. Thanks to the lack of available land, there were no industrial properties under construction in Quebec Street at the start of 2024. While industrial demand is projected to slow considerably this year, the lack of new supply will help keep vacancies in low territory for the foreseeable future, offering investors a safe haven opportunity from many economic headwinds (CoStar).
Denver-Aurora-Lakewood metro is home to three million people among 10 counties. Known as the Mile High City, Denver, which is also a county, serves as the state’s capitol and largest city, with approximately 742,800 residents. Metro Denver houses 10 Fortune 500 companies, including Newmont Goldcorp, Arrow Electronics, and DISH Network. Aerospace, financial services, and health care are some of the industries that have driven economic growth in the new millennium. The passage of Amendment 64 in November 2012, created a new industry in marijuana, largely consisting of young thriving businesses. Metro Denver provides a high quality of life with rural and urban amenities. Rocky Mountain National Park is less than two hours driving from the metro area, and the city houses franchises for all four major sports.
BROKER OF RECORD
ADAM LEWIS
Denver Broker of Record
1144 15th Street, Suite 2150
Denver, CO 80202
Tel: (303) 328-2050
Adam.Lewis@MarcusMillichap.com
License CO: ER100091205
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. © 2023 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0050083)
