CURRENT PROPERTY
Dahlia Street Yards
Commerce City, CO
ASSET CLASS:
Industrial
ASSET SUB-TYPE:
Yard Property
BUILDING:
7,000 SF building on 2.11 acres
Investment Report
Thesis
Overview
Denver has a low amount of yard property square footage available relative to the population (compared to other large cities).
Risks
- Existing tenant vacates at end of lease term at 2023.
- Construction costs are higher than anticipated when building is to be remodeled at end of lease term.
- We do not receive estimated new rent at the end of lease term.
- Upon stabilization of property, the cash out refinance proceeds are less than anticipated.
OUTLOOK & EXIT
We anticipate keeping this property for the long term.