ENGLEWOOD AND SHERIDAN, COLO. — A joint venture between ErvoSquare and Matrix Group has purchased a 10-building small-bay industrial portfolio in Englewood and Sheridan for $33.4 million, or $130.91 per square foot. Michael DeSantis and Brett MacDougall of Unique Properties Inc. / TNC Worldwide represented the buyer in the deal.
Situated on 13.9 acres, the 225,150-square-foot portfolio features small-bay industrial units ranging from approximately 1,840 square feet to 8,000 square feet. A majority of the units include drive-in doors. At the time of sale, the portfolio was 90 percent occupied. The new ownership group plans to complete extensive capital improvements across the portfolio, including roof replacements, mechanical system upgrades, interior renovations, parking lot improvements and exterior paint.