ENGLEWOOD, COLO. — A local buyer has purchased a 14,200-square-foot industrial building in Englewood for $1.9 million.
The facility is located at 2622 S. Raritan Circle. The seller, which was in a 1031 exchange, secured a higher price than what traditional financing would have offered due to a high interest rate environment, according to NorthPeak Commercial Advisors, which represented both parties.
Meanwhile, the purchase allowed the buyer to continue purchasing triple-net industrial properties within the same business park as its other holdings. The transaction also allowed the company to simultaneously complete a 1031 exchange into a more passive investment than a previous building.