Sold
Sold Price:
$1,425,000
Sold Date:
August 1, 2023
Announcing the Sale of 355 E. Grant St. in Elizabeth, CO
Denver, CO – August 17, 2023 – Madison Commercial Properties is pleased to announce the sale of a multi-tenant light industrial building at 355 E Grant Street in Elizabeth, Colorado, consisting of 10,000 square feet. The property hosts two long term-tenants and sold on August 1, 2023 for $1,425,000, or $142.50 per square foot.
Nick Jurgens and Jessica Smith, both of Madison Commercial Properties – Denver, represented the seller, Smilanic Construction and Design Corp. The seller was a long-standing owner in the community, who relinquished this property through a 1031 exchange and through that process, acquired land for development. RC Myles of Thrive Commercial Group and Craig Myles of NAI Shames Makovsky represented the buyer, TN Telephone Facility, a 1031 exchange investor, who acquired this investment after selling property in Tennessee.
“The Sellers were looking to capitalize on equity within the real property and utilize it in another property. Elizabeth is a fast growing town and this property attracted many potential purchasers. Finding a quality Investment Buyer, in a tertiary market, in the currently tough lending environment, is what we are pleased with,” said Nick Jurgens.
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