DePaul Real Estate Advisors Arranges the Purchase, Financing and Asset Management of Multi-Tenant Industrial Property
AURORA CO, June 27, 2017
– DePaul Real Estate Advisors is pleased to announce the acquisition and financing of Gateway Plaza, a 125,228-square foot, flex industrial park located within Denver’s flourishing East I-70/Montbello submarket. The sale price was not disclosed.
Paul DeCrescentis and Jarod Pate represented the buyer in the purchase and arranged acquisition financing. The buyer is one of the family offices for which DePaul Real Estate Advisors provides a suite of services including acquisition, disposition, financing, leasing and asset management. “The transaction consummates the successful redeployment of equity proceeds from an earlier real estate sale, which was planned as a 1031 exchange,” said Jarod Pate. “In addition to securing the property acquisition, we structured a non-recourse loan, which features a 4% interest rate and an interest-only period.”
The seller, a multi-state commercial investment firm, was represented by T.J. Smith, Brad Calbert, Matt Keyerleber and Nick Rice of Colliers International.
Gateway Plaza is a five building complex that consists of 125,228 square feet located near I-70 and Peoria. The area has undergone significant infrastructure upgrades with the recent reconstruction of Peoria Street over Smith Road and the nearby addition of Peoria Station, a transit hub at the convergence of the A-Line, which runs from Union Station in LoDo to Denver International Airport, and the R-Line, which traverses Aurora to the Denver Tech Center. In addition to transit connectivity, the property has excellent access to I-70, Peña Boulevard and to I-225.
At the time of closing, Gateway Plaza was 97% leased to 30 tenants. The flexible unit sizes range from
1,962 square feet to 10,749 square feet, providing smaller tenant spaces that can’t be economically reproduced in the today’s construction market. “The low vacancy rate at this property is representative of the state of the strength of the greater commercial real estate market in Denver,” describes Paul DeCrescentis. “The combination of impressive population growth, very low unemployment and constrained supply of new construction is creating a competitive market for tenants and investors alike. We are pleased to have executed this on behalf of our investor.”
DePaul Real Estate Advisors is a full service commercial real estate advisory and brokerage firm that specializes in income-producing and investment properties, commercial financing, leasing and site selection.
For more information regarding the services DePaul Real Estate Advisors provide, please contact Paul DeCrescentis or Jarod Pate at 303-333-9799.