DCT® Featured on Colorado Real Estate Journal: DCT picks up synergies with $5.2M acquisition in Aurora
June 7, 2017
An Article on Colorado Real Estate Journal by Jill Jamieson-Nichols
DCT picks up synergies with $5.2M acquisition in Aurora
DENVER – DCT Industrial picked up some synergy with the $5.2 million acquisition of a high-end industrial building in Aurora.
The 44,400-square-foot Roth Distributing building at 17801 E. 40th Ave. adjoins DCT’s Summit Distribution Center, a new industrial development the Denver based real estate investment trust will complete later this year.
“Rather than having two owners there, we own the whole section, which is really going to be advantageous for us,” said Mark Bowen, DCT senior vice president.” There are a lot of synergies there to having our development and having this one right next to it,” he said. The buildings adjoin at the truck court, so DCT will have control of, and flexibility with regard to, truck access.
Also, Roth Distributing is leaving in 16 months. “So, if we happen to get a tenant that wants a big building with a headquarters in front, there are a lot of options,” Bowen said.
Roth Distributing, a supplier of top-line kitchen appliances, is building a new facility in Denver. It sold and leased back the building through the second quarter of next year.
“It’s a fantastic building,” said Bowen. Built in 2003, the building has a large showroom space and ceiling clearance of 26 to 30 feet. Bob Bell of Mile Hi Property represented the seller in the transaction.
DCT’s adjacent Summit Distribution Center on 14.6 acres at East 40th and Salida Street is a 168,029-sf facility that will have 32-foot ceilings, dock-high and drive-in loading, an ESFR sprinkler system, LED warehouse lighting and other Class A features. Construction is ahead of schedule, with delivery anticipated this fall.
At the close of the first quarter, DCT owned 64 million sf of industrial space across the country with occupancy of 97.5 percent.