Conscience Bay Company, a Boulder-based real estate firm announced that it has obtained the 700,000 square foot Colorado Trade Center. This property is located at 5151 Bannock Street in North Denver, which is northwest of the I-25 and I-70 interchange. The land was purchased from Bannock Street Limited Partnership. The property is fully leased between a handful of industrial tenants.

In 1922 the first building on the property was designed for use by the Chicago Burlington and Quincy Railroad. A railroad spur is currently located at the property.

Associated Grocers then acquired the land and built additional buildings on the site that were used for temperature controlled storage of fruit, vegetable and other food distribution.

Bannock Street Limited Partners purchased the site in 1985 and tenants have included Miller-Coors and Nestle Purina. This acquisition marks Conscience Bay’s first property in Denver and this single transaction more than doubles its portfolio.

 

“There is a lot of exciting growth happening in Denver and much of this growth is moving in the direction of the Trade Center,” said Ben Woolf, Director of Investments at Conscience Bay Company. “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.”

Investment Sale Brokers R.C. Myles and Jim Brady along with Industrial Advisors Craig Myles and Tyler Smith of DTZ handled the sale transaction. DTZ will handle the leasing of the property on behalf of the new owner.

“This was an exciting sale to have been a part of,” said R.C. Myles, Managing Director of DTZ’s Capital Markets Group. “The Trade Center is one of those notable properties that most people in Denver know and recognize. The seller has been a long time friend and client of our firm and we are excited to have found a great buyer who has big plans for the future of the asset.”

This spring it was announced that DTZ and Cushman & Wakefield would merge and once the merger is completed, the company will operate as Cushman & Wakefield. This will create one of the largest real estate companies on the planet.