Midtown Industrial Center
4130 Brighton Boulevard Denver CO
Property Pictures
Current Performance Details
- Acquisition DateJuly, 1998
- Acquisition Price$5,375,000
- Add. Capital Costs$500,000
- Total Cost$5,875,000
- Total Project Size368,008 SF
- StatusActive
- Current Value$13,000,000
- Market Value PSF$35.33
- Refinanced this asset in 2008 with a $7,000,000, 10-year fixed, non-recourse loan at 6% interest
- Value enhanced by immediate renovations of buildings, renewing a major tenant and leasing vacant space
- Increased occupancy from 88% to 100% within 8 months after acquisition. Maintained a 90% average occupancy throughout ownership
- Increased NOI $150,000 within 3 months after acquisition
- Over 55,000 SF of cooler/freezer space
- 12.5 acre redevelopment site
- Ideally located adjacent to the new Fasttrack’s 40/40 light rail station. Expected redevelopment site in 2012
