(April 21st, 2022) Denver – Kenai Capital Advisors today announced that they represented the Seller for the sale of 4343 Holly Street, a 36,789 square foot industrial building in Denver, Colorado. This unique, well-maintained, and highly visible industrial building sits on 3.6 acres directly next to the newly completed Interstate 70 project in the Park Hill area of Denver. The buyer, Industrial Outdoor Ventures (IOV), paid $6.5 million for the asset and has plans to hold this asset in their industrial outdoor storage-focused portfolio for the long term.
Built in 1957 and meticulously maintained, 4343 Holly Street is currently leased to Beacon Roofing Supply’s waterproofing division (Nasdaq: BECN) and will serve as an integral asset for their last-mile distribution to Denver-area customers. The property has seen significant renovations and has been exceptionally well maintained, making the property unique compared to other assets in the area. The Buyer was attracted to the property’s ease of access to the newly renovated interstate, the functional layout of the building, and the rare large outdoor paved storage yard. This large storage yard, exceptional location, and rail access made this property unique and a great fit for IOV’s portfolio.
“The sale of this asset represented the unwavering demand for industrial assets in Denver,” said Garrett Neustrom of Kenai Capital Advisors. “IOV identified the opportunity & value in this asset and was able to efficiently execute the transaction.”
“We remain bullish on the Denver metro marketplace and continue to look for opportunities like 4343 Holly Street to build scale there as well as in other strategic markets across the U.S.,” said Anthony DeLaurentis, Acquisitions Officer, Industrial Outdoor Ventures. “We continue to see strong demand throughout all of Denver with no signs of growth slowing down.”
