PRESS RELEASE: Tributary Real Estate Acquires Six Properties for $9.4MM
DENVER (March 1, 2018) – Tributary Real Estate, a fully integrated Denver-based investment, development, brokerage and property management firm, announced today that TRECO Holdings LLC, a single-purpose entity whose general partner is Tributary Real Estate, purchased six properties from The Green Solution, LLC (TGS) for $9.435 million. TGS has signed long-term leases on all six properties.
The portfolio comprises five retail buildings located at, 1995 Wewatta St. (Denver), 3179 S. Peoria St. (Aurora), 10195 E. Montview Blvd. (Aurora), 3188 S. Federal Blvd. (Sheridan), and 810 N. College Ave. (Fort Collins) and one industrial building, located at 4420 Washington St. (Denver). Speidell Real Estate Group represented TGS in the transaction. Tributary acted as the
“This property portfolio is part of our strong, continuing relationship with Speidell Real Estate Group and TGS Management as we work together to acquire and develop retail, office and industrial properties nationally,” said Ryan Arnold, partner at Tributary Real Estate. “Each property is well-located in its respective market area to generate outstanding sales for the tenant and positive returns for the real estate investment.”
Previously, Tributary helped TGS develop three other retail locations as well as the company’s 63,000-square-foot corporate office building. The purchase represents a majority of TGS-owned retail properties in the Denver-metro area.
“The sale of these properties corresponds with our business plan to focus on operations and retail sales,” said Kyle Speidell, managing partner at Speidell Real Estate Group and CEO of TGS Management, parent company to The Green Solution. “We are committed to concierge-level
retail service for our customers while providing consistent quality and competitive value. The transaction with Tributary provides us with a stable platform to move our business forward in creating the most recognizable brand name in Colorado.”
TGS Management is a vertically integrated cannabis operations company employing over 660 employees in cultivation, manufacturing, R&D facilities and retail.