Denver investor facilitates 1031 exchange for central Denver warehouse

Property Location: 505 & 525 Bryant St., Denver

Property Description: 6,000-sf brick warehouse, YOC 1962, & 5,200-sf brick warehouse, YOC 1961, total of 11,200 sf

Land Size: 23,225 sf

Sales Price: $1.32M, or $117.41 psf

Reception No.: 2018060412

Closing Date: 5/21

Grantor: CG Holdings of Colorado LLC, Kelly Letts, signatory

Grantee: 1316 Quitman Street LLC, Donald Gary Parker, mgr.

Financing: $300,000 due 2/20/2019 payable to ABW REO’s LLC

Comments: This property was listed by Nick Schill of Pinnacle Real Estate Advisors LLC. The property has been leased to medical and retail marijuana growers for $9.70 psf modified gross. The buyer sold and facilitated a 1031 exchange of 1330 Quitman for 505 & 525 Bryant St. It was represented by Unique Properties.

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