Industrial/Flex Property in Commerce City, CO Sells for $4,600,000

Denver, CO – March 21, 2022 – Madison Commercial Properties is pleased to announce the sale of 9652 Hanover Court West in Commerce City, CO. The Industrial/Flex property, consisting of one structure totaling 23,248 square feet on 1.69 acres of land, sold on March 21, 2022, for $4,600,000 or $198 per square foot.

Pete Foster, Senior Advisor with Madison Commercial Properties, represented the Buyer, Thrasher Group in the transaction, and Matt Keyerleber and T.J. Smith, Principals, with Colliers International, represented the Seller.

“Thrasher Group is a well-established regional construction company who has entered the Denver market with their 8th location in the West/Midwest Region. Purchasing this property allows them to serve their customers better and increase their client base while being in the heart of Denver’s popular North Central industrial submarket. Madison Commercial Properties is proud to have been able to support our clients’ goals and to find the perfect location for their needs,” stated Pete Foster, Senior Advisor with Madison Commercial Properties.

“This property was a fit for our clients based on its unique characteristics, which included an area for trucks and equipment, along with various other functional office and warehouse capabilities. In addition, the property is positioned with great highway access to facilitate the logistical needs of our client, increasing their overall profitability. We were able to locate this property the first day it was on the market and beat out other offers that were over the asking price. We did this by approaching our offer in a thoughtful manner, being transparent, and earning the Selling team’s trust. Being flexible, creative, and aggressive with the terms proved to be a winning strategy once again,” stated Pete Foster, Senior Advisor with Madison Commercial Properties.