Aurora, CO (January 4, 2017) —Phillip A. Yeddis, Executive Vice President of Unique Properties, Inc., Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, announces the following two property sales as part of a 1031 tax exchange sale.
Buckley Commerce Center located at 401-403 Laredo Street, Aurora, CO is a 37,500 SF multi-tenant industrial / flex complex. The two-building property is situated on 2.29 acres and was built in 1984. It is zoned M-1. The 23-tenant property has industrial drive in doors.
The property sold for $4,200,000, which represents a $112 PSF sales price, and was 100% occupied at the time of closing. The well-maintained property has easy access to 6th Avenue and I-225. The buyer was Hainey Family Limited Partnership, RLLLP, who was represented by Yeddis. The seller, AC Avery, LLC was represented by Brit Banks of Dean Callan & Company.
The other part of the 1031 exchange was the acquisition of 3555 Moline Street, Aurora, CO which is a multi-tenanted industrial property. The 4-tenant, 33,555 SF complex sold for $3,900,000, which represents a $116 PSF sales price. The property was 100% leased at the time of closing. All the tenants are on long-term, NNN leases. The concrete twin-T construction property sits on 1.83 acres and was originally built in 1973. It has 2 drive in doors and is zoned M-3. It has easy access to I-70, I-225, and I-270 and is within walking distance to Peoria Light Rail Station.
Yeddis represented the buyer, Hainey Family Limited Partnership, RLLLP. The seller was 3555 Moline LLC and was represented by John O’Hara of A Better Way Realty. The combined two-property 1031 exchange acquisition was $8,100,000.