United Properties has sold the Enterprise Business Center Building 7 (EBC 7) in Denver for $25.5 million. The 157,942-square-foot Class A industrial property is located at 9420 E. 40th Avenue and was acquired by Dream US Industrial Fund, a subsidiary of Dream REIT.
The transaction was brokered by a Newmark team including Mike Wafer, Tim Richey, Michael Wafer Jr., Mike Viehmann, Jack Richey, and Sean Fitzgerald. United Properties began developing the broader Enterprise Business Center campus in 2015, with Building 7 completed in 2017.
The EBC campus is strategically located and home to several notable tenants such as FedEx, Coca-Cola, Breakthru Beverage, Tire Rack, and Aramark.
“EBC 7 checks every box for today’s industrial investor, as a Class A building in a core infill location, with the upside of below-market rents and a short-term WALT,” said Mike Wafer of Newmark.
According to research from Newmark, Denver’s east region is the city’s largest and most institutionally held industrial submarket, representing approximately 42% of the market’s total inventory and 62% of its absorption.
