CBRE Brokers Sale of 75,000-Sq.-Ft. Distribution Building on I-70 and Peña Boulevard for $7.125 Million
26 May 2020
CBRE announced the$7,125,000 sale of a 75,000-sq.-ft.distribution building located at 15800 East 40th Avenue in Aurora, Colo. Todd Witty and Doug Viseur with CBRE’s Denver office represented the seller, Serta Simmons Bedding. Industrial from Dallas, Texas, purchased the property in a transaction that closed April 30. CBRE retained the leasing assignment for the property.
“Located in the center of the I-70 corridor in the Airport submarket, 15800 East 40th Avenue is a great value-add opportunity with excess land for future building expansion or trailer parking and storage,” stated Todd Witty, First Vice President, CBRE.“This property demonstrates continued aggressiveness in Denver’s industrial sector.”
Built in 2003 for Serta’s own operations, 15800 East 40th Avenue is a Class A building visible to more than 120,600 vehicles traveling on I-70 and Peña Boulevard daily. The property includes a fenced, secure loading area; ESFR sprinklers; dock-high and drive-in loading; 24-ft. clear heights; radiant heat throughout; mechanical pit levelers, dock lights and seals; skylights; and an air exchange system. The building also houses approximately 6,500 sq. ft. of office space.
This disposition is part of the continued consolidation of the Serta and Simmons facilities across the country. Serta Simmons has consolidated into a facility a few miles away.
“The building has heavy power, high ceilings, excess land and great loading making it a fit for both manufacturing and distribution tenants. With its highway visibility and excellent location, it would even be a good fit for a showroom use,” stated Doug , Senior Vice President, CBRE. “The property is also within an Enterprise Zone, offering potential tax benefits to tenants.”
Located on East 40th Avenue between Chambers and Peña Boulevard, the property is near several hotels and restaurants including Outback Steakhouse, Ted’s Montana Grill, Applebee’s Grill & Bar, UNO Pizzeria & Grill, KFC, Qdoba, A&W, Wendy’s, Sonic, and Long John Silver’s.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.