The 500 W 53rd Place industrial development in Denver, Colorado.
Tenants Lease Remaining Space in Denver Industrial Facility
Threewit-Cooper Cement Co., a Denver-based masonry building product supplier, leased 25,208 sf and Hajoca Corporation, the nation's largest privately held wholesale distributor of plumbing, heating, cooling and industrial supplies, leased 39,202 sf. The transactions bring the multi-tenant facility owned by the joint venture of Connexion Asset Group and Streech Properties to 100% leased.
Aaron Valdez, Tyler Smith and Alec Rhodes with Cushman & Wakefield’s Denver office represented the landlord in the transactions.
Valdez says: "The property offers a functional layout along with a huge, expanded fenced yard in a central location, which made it attractive to the tenants.
"We believe the property and its unique features will allow the tenants to grow their businesses by providing their customers with quick access to this location."
Ed Anderson, CEO of Connexion Asset Group, adds: "Our team is excited to welcome Hajoca and Threewit to 500 W 53rd. We’re thrilled to get these deals done in a turbulent market and it’s a credit to all parties involved—our team, Cushman & Wakefield and the tenants—that we were able to fill the building up very quickly."
The ownership group made strategic improvements to the property in 2020, including upgrading lighting to motion sensor LED, replacing large portions of the parking lot asphalt, improving and expanding the yard and giving the front entrance a facelift.
500 W. 53rd Place is a centrally located distribution warehouse facility offering immediate access to the entire Denver metro area via Interstates 25 and 70. With loading options, functional building dimensions, excess secured yard, and ample car and trailer storage, the building is able to accommodate a wide variety of uses.
The property is located in an enterprise zone within unincorporated Adams County.