Denver, CO - January 24, 2024 – ACD announced today that it has successfully closed on the acquisition of Central 70, an 11.5-acre infill industrial site in Denver. ACD purchased the property from a private owner in an off-market transaction arranged by CBRE.
ACD completed the acquisition on behalf of its ACD Fund IV, LP opportunity fund. Adam Huff, Director of Development for ACD, commented, "We are thrilled with this investment. Industrial assets, particularly small bay format, have maintained stable performance amid recent market volatility thanks to robust fundamentals that fuel significant demand and commensurate rent growth. This is especially true in select land constrained submarkets such as Denver’s North Central. We are eager to add Central 70 to our value-add platform and look forward to aggressively pursuing additional opportunities within this market."
Central 70, situated in a designated opportunity zone at 4500 N. Garfield Street, 4501 N. Jackson Street, 3600 E. 48th Avenue, and 3730 E. 48th Avenue, is a fully fenced Industrial Outdoor Storage (IOS) site. The property, with three single-tenant buildings totaling 120,746 square feet, includes two income-generating cell phone towers. The property is currently occupied by Waste Management.
Strategically located at the intersection of the North Central and Airport Central submarkets, the property boasts numerous industrial amenities including large acreage, zoning for heavy industrial use, rail accessibility, and existing functional warehouses.
Jeremy Ballenger, Tyler Carner and Jessica Ostermick of CBRE serve as the exclusive listing agents for Central 70. For more information contact Jeremy Ballenger at 303-264-1902.