DENVER, Colo. – December 3, 2013 – (RealEstateRama) — In a strategic move to add to its already robust industrial portfolio, BH Properties, LLC has purchased a one-story warehouse facility, located at 4525 Ironton St. in Denver, Colo., for $1.8 million. Carmon Hicks of Jones Lang LaSalle brokered the transaction for BH Properties, while Verma Sudhir, with an undisclosed company, represented the seller, Jama Boots.
“As part of our evolving strategy that is focusing more on Western and Southwest markets, this facility was perfect for our portfolio, and gives us our fourth property in Colorado,” said Steve Jaffe, executive vice president and general counsel of BH Properties. “This sale allows us to take an underutilized property and bring new business opportunities to a facility that boasts many amenities, including a central location in an enterprise zone. Ultimately, this property offers tremendous upside for us as landlords and prospective tenants.”
The 41,770-sqaure-foot Denver warehouse property – built in 1973 – is able to accommodate a wide range of uses and sits along the I-70 corridor. According to Jaffe, the property is currently vacant, but BH Properties is in the final stages of securing a lease with a local tenant.
About BH Properties, LLC:
Founded in 1997, BH Properties is a Los Angeles-based commercial real estate investment company that focuses primarily on troubled assets in the industrial, multi-family, office and retail markets. With regional offices in Dallas and Salt Lake City, BH Properties has developed its own distinctive acquisition strategies in 17 states and become one of the repositioning experts in its core markets including California, Arizona, Nevada, Utah, Colorado, Texas, and Oklahoma. For more information, please call (310) 820-8888 or visit www.bhproperties.com.