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Littleton, CO

9673 Titan Court

Address:
9673 Titan Court, Littleton, CO 80125
Property Type:
Multi Tenant
Price:
$6,000,000
Cap Rate:
4.50% cap
NOI:
$270,000
Square Feet:
32,000 sqft
Lot Size:
2.62 acres
Price Per Square Foot:
$187.50
Year Built:
1987/1995
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* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

  • Delivered Between 1987 and 1995, This Property Can Be Kept as Multi-Tenant or Opened Up for Single-Tenant Use
  • Subject Property is Masonry Construction with 32,000 Square Feet of Rentable Space on 2.62 Acres Situated Along Santa Fe Drive in Littleton, CO
  • Features Include 18’ Clear Height, Clear Span Warehouse Space and Multiple Loading Areas
  • Lot is Fully Fenced in with a Stone Wall Along Titan Court and Two Electronic Gates to Enter the Property
  • Three Years Left on the NNN Leases with Minimum 5% Annual Escalations. Current Rents are Below Market Providing Additional Upside When the Leases Expire
  • 90% of the Space is Occupied by WescoBHT Manufacturing
  • WESCOBHT Manufacturing Has Over 40 Years of Experience in Fabricating and Laser Cutting Goods

Location Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 9673 Titan Court in Littleton, Colorado, anchored by WescoBHT Manufacturing. The subject property consists of approximately 32,000 square feet of warehouse space and is situated on 2.62 acres of land. The asset features masonry construction, a clear height of 18’, five grade-level doors, one dock-high door, and clear-span warehouse space. Delivered in 1987/1995, the multi-tenant property can be reconfigured for single-tenant use. About 90 percent of the space is occupied by WescoBHT Manufacturing, which has 40 years of experience in fabricating and laser cutting metal parts used in a variety of goods. The tenant’s current lease expires in three years and includes annual escalations of at least 5 percent. With the current rent priced below market average, the sale offers investors a value-add opportunity with available seller financing at competitive interest rates.

Located just off U.S. Route 85 (CanAm Highway/Santa Fe Drive), the property sits within the Southwest C-470 submarket, containing 11.8 million square feet of industrial space. Over the past four quarters, the vacancy rate has steadily dropped from 4.3 percent to just 2.3 percent at the end of Q2 2022. The vacancy rate stands just 20 basis points above its all-time low posted during Q3 2019 and is half the level of the overall Denver market. Supported by the strongest annual absorption rates since 2016, market rent growth on industrial properties in Southwest C-470 hit a record high of 9.9 percent in Q2 2022. Market rents now average $14.89 per square foot, offering local landlords a sizable 30 percent premium compared to the overall market. With only 61,000 square feet of industrial space underway, representing 0.5 percent of inventory, the vacancy rate and market rent growth will largely go unimpeded by new supply for the foreseeable future (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
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. © 2022 Marcus & Millichap. All rights reserved. (Activity ID: ZAD0050295)