Graham Street Realty recently completed the sale of Commerce Square, a pair of light industrial buildings totaling 145,242 square feet in Aurora, Colorado. The buyer, Midtown National Group, purchased the properties for $21.5 million with financing from Nationwide Insurance Co.
JLL Capital Markets represented the seller and facilitated the transaction between both parties. At present time of purchase by Midtown National Group , Commerce Square was fully occupied by 12 tenants including Frontier Business Products and PARTpoint.
This is not Graham Street Realty’s first involvement with Commerce Square as they previously acquired it in 2020 for $16 million from First Industrial Realty Trust. JLL also represented them during that transaction.
Built in 1985 ,Commerce Square features two one-story buildings designed with rear-loading configurations and amenities such as climate control and ample parking space . Additionally,the property boasts high ceilings at18-feet clearance height along with38 docksand11 drive-in doors .
As per Commercial Edge reports,Denvor metro area ranks third among western markets when it comes to industrial construction activity as recorded till November last year.This latest deal further cements Denver’s position within this sector making it an attractive investment opportunity for buyers like Midtown National Group.
