- BusinessDen | February 5, 2018
Globeville warehouse site sells for $10M
- Denver Business Journal | February 1, 2018
Globeville building sells for $10 million
PRESS RELEASE: Tributary Real Estate and Leuthold Commercial Properties Partner on Acquisition of 4800 Washington St.
Purchase includes 5-acre site and 120,000sf existing warehouse in Denver’s Globeville neighborhood
DENVER (Feb 1, 2018) – Tributary Real Estate, a fully integrated Denver-based brokerage, development and investment firm, and Leuthold Commercial Properties, a full-service real estate brokerage firm based in central Denver, have purchased 4800 Washington St., a 5-acre parcel that includes a 120,000-square-foot warehouse in Denver’s Globeville neighborhood for $10 million.
The owner-occupied warehouse is currently a showroom for Buy & Build, which specializes in selling discount kitchen cabinets, bathroom vanities, faucets, sinks, flooring, doors, lighting, and countertops. Buy & Build, Colorado Closeouts, and other existing tenants will remain in the warehouse for the foreseeable future.
Located across the South Platte River from the National Western Complex, the property is a long-term hold, with no current plans for new development. This is the first collaboration between Tributary Real Estate and Leuthold Commercial Properties.
“With the City of Denver’s renewed focus on the Elyria Swansea and Globeville neighborhoods, we’re seeing more activity in the area,” said Russell Gruber, managing director at Newmark Knight Frank, who represented the seller in the transaction. “The redevelopment of the National Western Complex and infrastructure improvements along Washington Street make this a desirable area for investment and development opportunities.”
In November 2017, voters approved the 2017 GO Bond, which included the full roadway reconstruction of Washington Street between 47th and 52nd Avenues. As outlined in the Washington Street Study, proposed improvements include expanding the roadway and creating more opportunities for multi-modal transportation.
About Leuthold Commercial Properties
Based in central Denver, Leuthold Commercial Properties is a full-service real estate brokerage firm founded in 1998 on the belief that in-depth market knowledge and personal attention are the key ingredients to helping clients accomplish their goals. Tony and David Leuthold offer more than 40 combined years of real estate experience in the Denver area. For more information, visit www.leutholdcommercial.com.