DENVER — BKM Capital Partners has purchased West 6th Center, a light industrial property at 1780 W. 6th Ave. in Denver, for $10.7 million. BKM acquired the asset through a joint venture partnership with TerraCore Capital.
Built in 1995, the facility features a 69,575-square-foot unit, a 29,745-square-foot unit and a 23,463-square-foot unit. The asset offers 16- to 20-foot clear heights, a small office component, 50,000 square feet of secured yard space, two oversized grade-level loading doors, 26 dock-high doors and five mobile metal ramps to convert select dock-high doors to drive-in doors.
At the time of sale, three occupants fully occupied the 122,783-square-foot small-bay industrial building.
BKM plans to invest $7 million into a value-add repositioning plan to modernize the asset. Plans include upgrades to the property’s roof, parking lots, HVAC systems, paint scheme, landscaping, signage and storefronts, as well as capital for speculative tenant improvements.
The buyer plans to divide the 69,575-square-foot property and convert it into four smaller units to create six total units ranging from 20,464 square feet to 40,928 square feet.
Alec Rhodes, Aaron Valdez and Raymond Trevisan of Cushman & Wakefield represented the undisclosed seller, while BKM represented itself in the deal.