Northstar Commercial Partners Revitalizes and Sells Denver Industrial Facility
June 16, 2015
DENVER, Colo., June 16, 2015 - Northstar Commercial Partners is pleased to announce the successful sale of 1201 West Mansfield Avenue, an industrial building located in Denver’s thriving Englewood area.
The building sold for $9,721,500 and serves as a warehouse and distribution space, currently leased by several tenants including Ouray Sportswear, Christian Brothers Moving & Storage, Hands-On Labs, and Digital Precision Imaging.
"We’re delighted with the sale of 1201 Mansfield,” Brian Watson, Founder & CEO for Northstar said.
“After initially acquiring this building vacant in 2007, we completed a full-scale renovation of the entire property. We've now held 100% occupancy at the asset with some truly wonderful tenants for the last several years.”
When Northstar purchased the 50-year-old building, it diligently worked to rehabilitate the distressed commercial facility. These $5 million in renovations and tenant improvements for the building included: new HVAC systems, ADA compliance standards, high efficiency lighting, new switch gear, new service panels circuiting, epoxy flooring, and creation of new office space.
“I have full confidence that the new owners will only continue to foster further growth and opportunity at this attractive Englewood facility, that creates many jobs for the local community,” Watson concluded.
RC Myles, Managing Director at DTZ involved in the purchase, noted the mutual benefit of the sale as well as optimism for the future:
“I think the sale of 1201 Mansfield is a great conclusion to a concerted effort by Northstar Commercial Partners to execute on a vacant purchase, rehabilitation, and repurposing of this asset,” Myles said.
“The quality renovation allowed for several successful business to operate over the last several years.”
Northstar’s goal has always been to benefit the community through the creation and revitalization of good and attractive working environments that empower people, providing them the opportunities they need to succeed.
About Northstar Commercial Partners
Founded in 2000 by Brian Watson, Northstar Commercial Partners is a privately held commercial real estate investment company headquartered in Denver, Colorado.
Northstar acquires and operates attractive commercial real estate opportunities throughout the United States and orchestrates all aspects of the investment from initial concept through to completion.
Northstar has purchased assets from a multitude of Fortune 500 companies including, but not limited to: Shell Oil Co., GE, Columbia House, Ball Corporation, Loomis, Cargill and a national portfolio of real estate from The Benjamin Moore Paint Co., in addition to many individual assets from other owners, lenders and companies.