Three Fuller Brokers Sell $7M Northglenn Asset

(Colorado Real Estate Journal, September 18, 2019) by Jill Jamieson-Nichols -An East Coast partnership bought a Northglenn industrial building for $7 million, or $98.38 per square foot. Meged-Tal Investments LLC purchased the 71,150-sf building at 11060 Irma Drive from Steamboat Springs Properties LLC and Soggy Dollar Proper-ties LLC, according to Adams County records. The sellers are affiliated with the previous owners of Precision Metal Manufacturing, which occupies the entire building. The credit tenancy, long-term lease and product type generated strong interest from both local and out-of-state investors, according to Mike Haley of Fuller Real Estate. Industrial, particularly in Colorado, is a preferred product type among investors, Haley noted. Haley, David Gagliano and John Becker, all of Fuller, were the listing brokers. Joe Fried of F&F Properties represented the buyer.The Irma Drive building, constructed in 1980, sits on 4.55 acres. It has eight dock-high and nine drive-in doors, along with 16- to 21-foot ceiling heights.Precision Metal Manufacturing is a precision sheet metal and machining manufacturer that produces products for the medical, agricultural, telecommunications and aerospace industries.