- Location: Boulder, CO
Please see property links for details:Boulder Industrial Portfolio7077 Winchester Circle 5735 Arapahoe Avenue
7077 Winchester Circle and 5735 E. Arapahoe Avenue: These industrial assets with cannabis-related tenancy are located in Boulder, Colorado, and can be purchased together or separately. The combined price for the 2-building portfolio is $8.7 million, or $179/sf. Given the high demand for warehouse and flex space in Boulder with single digit vacancy rates coupled with a lack of future development opportunities, both assets are well-poised to benefit from the solid market conditions.
- Stabilized cash flow
- Attractive Boulder market
- Pandemic-resistant tenancy - all tenant accounts receivable are 100% for both properties
7077 WINCHESTER CIRCLE is a 2-story suburban industrial flex building comprised of 22,473 rentable square feet. Completed in 1979, the property features office/R&D space, heavy power, drive-in and dock doors on a 3.04-acre site located in a business park setting in Gunbarrel, within the Boulder city limits.
- Long term marijuana tenant executed 5-year renewal
- Attractive 3.04-acre site in Gunbarrel neighborhood of Boulder
- 84.4% leased; Basement space available for lease – offering upside to NOI
5735 ARAPAHOE AVENUE is an industrial warehouse building with high-bay warehouse units on the north side with both drive-up and dock high doors, and a two-story office buildout.
- 100% leased multi-tenant including marijuana related tenancy (54% of rent roll)
- Legally subdivided into commercial condominiums – allowing for conventional financing on non-cannabis space
- Below market leases allow for future upside
- New roof, solar, and lighting upgrades