Source: Colorado Real Estate Journal, September 7, 2022: DENVER – 1500 W. 38th Ave LLC acquired the 1,950 sq. ft. single-story commercial building at 1500 W. 38th Ave. in Denver’s Highland neighborhood. According to public records, the buyer purchased the asset from 1500 38th LLC. Brian Baker and Tanner Fanello of Fuller Real Estate represented the buyer in the transaction, while Justin Krieger of Pinnacle Real Estate Advisors represented the seller. The property traded for $1.37 million, or $700 per sf, which Krieger said is a record-high price per square foot for a commercial property on West 38th Avenue. The recently renovated building features a new facade, stucco roof and windows. The seller operated technology company Ifficient Inc. at the property up until closing. According to Krieger, the property garnered significant interest and went under contract only a few days after hitting the market in late June. He said a majority of the interest came from owner-users. “Despite some market headwinds, buyer response to this opportunity was extremely strong due to the property’s outstanding location on a signalized corner at the entrance to on of Denver’s most desirable neighborhoods, flexible zoning and renovations completed by the seller,”, said Krieger. The buyer will operate Gravina’s Window Center of Littleton at the property, opening a new Denver showroom and office.
Denver Highland’s Commercial Sale
