Golden Warehouse Leases

(Source: Colorado Real Estate Journal, March 17, 2021, p. 10.) The Kong Co., an international pet toy supplier, leased the entire 46,701 sf, Class B industrial building at 21055 West Gate Rd. in Golden from landlord North Cherokee Partners, LLC. Esther Kettering of Cushman Wakefield represented the tenant in the transaction, while Tanner Fanello and Brian Baker of Fuller Real Estate represented the landlord. The Fuller team began marketing the property for lease in November. Fanello said the property garnered stable tenant interest through the holiday season, with interest increasing following January 1st. He attributed tenant interest to a lack of available inventory west of Denver. The property’s price point at $6 per sf, and quality industrial features also attracted buyers, Fanello said. While many prospective tenants were interested in a portion of the space, the landlord was bullish on finding a single tenant, Fanello noted. The Kong Co. will occupy the entire property under a lease starting April 1. Fanello declined to release any specific terms of the tenant’s agreement. While the lease officially starts next month, the landlord granted the tenant early occupancy, so the tenant has begun moving in. Fanello said the property will not need any upgrades before the tenant occupies.