UNINCORPORATED ADAMS COUNTY, CO (April 27, 2015) – CBRE announced the recent sale of an 11.6 acre industrial park located at 8000 Steele Street in unincorporated Adams County to Central Development, a Colorado based industrial developer, for $1,263,240. First Vice Presidents Eric Roth and Martin Roth, with CBRE’s Land Services, represented the seller, Riverside Investment Holdings, LLC.
The four lot industrial park is zoned I-2, which allows for many industrial uses including outside storage. The buyer is planning to initiate a build-to-suit for Samuel, Son & Co. Inc., on approximately half of the site. Samuel, Son & Co. Inc. is a leader is metals distribution, serving a wide array of manufacturing customers. Development on the site will start immediately. Central Development spokesperson Brad Cushard commented, “We plan to sell the excess land to other users or potentially develop additional industrial product on the site.”
Eric Roth noted, “With the lack of heavy industrial land in the market, this site started to receive attention after a few years of dormancy. The buyer had many moving parts to navigate and was able to successfully close on the site with a credit tenant in tow.”
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.