The Colorado Trade Center at 5151 Bannock St. in Denver was recently acquired by Boulder-based Conscience Bay Company. (Provided by DTZ)
The Colorado Trade Center, a 700,000-square-foot industrial property near the junction of Interstate 25 and 70, has been acquired by Boulder-based , officials announced Tuesday.
The property, originally built in 1922 for the Chicago Burlington and Quincy Railroad, marks Conscience Bay’s first foray into the Denver real estate market and its largest purchase in company history, according to a news release.
Current tenants of the trade center include Safeway, FreshPoint, FreshPack, Condit Exhibits and Colorado Doorways. At the time of the sale, the property was fully leased by a variety of industrial tenants on long-term leases, the company said.
“There is a lot of exciting growth happening in Denver and much of this growth is moving in the direction of the Trade Center,” CBC director of investments Ben Woolf said in a statement. “Considering its phenomenal location and great highway access to both I-25 and I-70, we believe that the project offers opportunities for additional development and a wide range of commercial and industrial uses.”
The sale price was not disclosed. The seller was Bannock Street Center Limited Partnership, which acquired the property at 5151 Bannock St. in 1985. Over the years, the property has also been home to Miller-Coors, Nestle Purina, Owens Corning and Nash Finch, among others.
DTZ, which handled the sale transaction, will continue on with the leasing of the project on behalf of Conscience Bay, according to the release.
