Crossroads Distribution Center, Denver

October 15, 2019 Comments Off on BKM Takes Ownership of Denver’s 150K-SF Crossroads Distribution Center Views: 252 Colorado, National News, Southwest

BKM Takes Ownership of Denver’s 150K-SF Crossroads Distribution Center

Institutional fund manager BKM Capital Partners is now the owner of Crossroads Distribution Center, a 14-unit, 150,245-square-foot distribution warehouse campus in Denver, CO’s Central East I-70/Montbello submarket. The Newport Beach, CA buyer acquired the asset from KEW Realty for $14.8 million in an off-market transaction.

“This was an off-market transaction that resulted in a price agreement at a significant discount to replacement cost,” said BKM’s Brett Turner. “The acquisition price of $98-per-square-foot is a 13% discount to recent transactions in this submarket, and a 43% discount to the asking price for a nearby comparable property.”

Originally constructed in 1973, Crossroads Distribution Center at 3700 Havana St. is 90% leased to 12 tenants. The firm’s new owner plans to rebrand the asset as Havana 37 Business Center, and will invest approximately $1.2 million in capital improvements to upgrade the roof, HVAC system and parking lot.

Connect With BKM Capital Partners

Connect With KEW Realty


Get CRE News in 150 words

For comments, questions or concerns, please contact Amy Sorter

Tags: ,

Comments are closed.

Send this to a friend