Marcus & Millichap is pleased to present the opportunity to acquire the property located at 8777 Brighton Road in Henderson, Colorado. The subject property consists of approximately 53,550 square feet of industrial space and is situated on 3.46 acres of land. The three-building asset features eleven units, solar panels, and a stand-alone office. Situated within an unincorporated area of Adams County, the property is zoned I-2, which allows for outdoor storage. The sale offers investors a value-add opportunity with the option of seller-carry financing. Located just off the 88th Avenue exit from Interstate 76, the property is less than 11 miles from Downtown Denver.
The asset is situated within North Denver, a midsize submarket containing 12.4 million square feet of industrial space. At 73 percent, logistics facilities account for the largest share of inventory, followed by specialized and flex space at 16 percent and 11 percent, respectively. Thanks to the second-highest tally in net absorption on record, the vacancy rate dropped nearly 400 basis points in 2022 to finish at 6.1 percent. Historically high demand pushed market rents up 8.6 percent last year. Going into 2023, industrial rents averaged over $12.50 per square foot in North Denver, giving local landlords a 7.0 percent premium compared to the overall market. The submarket’s strong fundamentals have attracted a sizeable amount of new development in recent years. The 512,000 square feet currently underway in North Denver will increase the inventory by 4.1 percent (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 a two-hour drive from the metro area, and the city houses franchises for all four major sports.
BROKER OF RECORD
ADAM LEWIS
Denver Broker of Record
1225 17th Street, Suite 1800
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: ZAE0050040)
