1400 -1420 Overlook
Industrial | 28,800 SF
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Investment highlights
Well-Positioned Location: The Property is ideally located in Denver’s Northwest submarket, one of Denver’s highly sought after submarkets. With a currently vacancy of rate of 9.1% this submarket is a desired location for companies spanning a myriad of different industries, including food processing, clean energy and high-tech manufacturing, aerospace, product supply, GSA, R&D, and general services. Businesses are lured by the talented workforce and high quality of life in Boulder County, along with easy access to Boulder and Denver metro via its convenient location adjacent to E-470 (4 minutes), near Highway 36 (10 minutes) and Interstate I-25 (11 minutes).
Strong Tenancy: Probi, has occupied both buildings for over 10 years and has modified both buildings over time to optimize business operations. Probi, a publicly traded company with impeccable credit and zero debt, recently reaffirmed its commitment to the project by signing a new, 5-year term lease extension. The new lease terms include a strong upside in rent over time, with 3.5% annual escalations. Probi has been in an Absolute Net Lease since the beginning of its tenancy.
Asset Functionality & Flexibility: The Property is currently set up as a single tenant, net leased asset. However, both buildings could be easily converted to a two-tenant solution should the tenant ever vacate. Both buildings have strong curb appeal and offer features that are attractive to tenants in this submarket.
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