Colorado Real Estate Journal - April 5, 2017
Just over half a million square feet of industrial product in Denver recently sold to a Honolulu buyer for $46.2 million. LYK Peoria LLC and LYK Havana LLC, entities affiliated with Lum Yip Kee Ltd., purchased five buildings ranging from approximately 41,000 to 168,000 sf in two transactions. They included the $27.7 million purchase of a pair of approximately 167,900-sf buildings at 11585 and 11685 E. 53rd Ave. in Denver Business Center. Tenants include Larson Warehousing & Distribution, 24/7 Express Logistics and PriestZimmerman Inc., according to CoStar Group. The other transaction, totaling $18.5 million, included three nearby buildings in Stapleton Industrial Center that are leased to tenants including All American Seasonings, KM Sales and Integrated Control Systems. Located at 10500, 10550 and 10600 E. 54th Ave., the buildings range from 41,711 to 74,190 sf, according to CoStar. The Class B buildings were built in 1985. The seller was Realty Associates Fund VIII LP, a fund affiliated with Boston based TA Realty LLC. Colliers International Brokers T.J. Smith, Brad Calbert and Tom Stahl reportedly handled the transaction, but neither they nor the buyer would comment on it. TA Realty sold a portfolio of 17 other Class B buildings in Denver last year for $57.65 million.