ACD ACCELERATES GROWTH INTO DENVER INDUSTRIAL MARKET WITH SECOND SMALL BAY ACQUISITION OF THE YEAR
4/22/2024
Denver, CO – April 19, 2024 - ACD today announced that it has successfully acquired 700 West 48th Avenue, a 77,222 square foot, small bay industrial property located in North Central Denver. ACD purchased the Class A property from a private company in a transaction facilitated by Jeremy Ballenger of CBRE.
This marks ACD’s second move into Denver’s industrial market since the new year, underscoring the firm’s high confidence in the metro area’s ongoing growth as a major industrial hub as well as the enduring appeal of small bay spaces. In January, the firm acquired Central 70, another small bay industrial property located in the same North Central Submarket.
"We are thrilled to add another prime asset to our industrial portfolio,” said ACD Director of Development, Adam Huff. “We’ve made great strides over recent years to increase our position in the industrial market space, always looking for that perfect combination of quality, strong fundamentals and compelling market growth. This property is a perfect fit, with an incredible centralized location and attractive tenant amenities. We look forward to maximizing its potential."
Spanning two buildings on a 4.32-acre site, 700 West 48th Avenue traded at full occupancy with a stable of nine diverse tenants and an average unit size of 7,500 square feet. Located near major transportation arteries, including Interstate 70 and Interstate 25, tenants enjoy second-to-none highway visibility and convenient access to over two-thirds of the metro area within fifteen miles.
The North Central Submarket has consistently outperformed Metro Denver in terms of occupancy rates over the past decade, underscoring the desirability of the area for industrial tenants. With vacancy rates for small bay assets in Metro Denver at just 2.9%, and even lower at approximately 1.2% in the North Central submarket, the trade area is well positioned for strong future rent growth.
Founded in 2005, ACD is a Denver-based private development company that specializes in acquiring, developing, and managing commercial real estate investments in the Intermountain West. The company is actively seeking self-storage, neighborhood retail and small bay industrial opportunities in Utah, Colorado and Arizona.
For more information contact Ballenger at 303-628-1700.