News
Focus Properties Buys Urban Lights HQ in Sale-Leaseback
March 28, 2013
Denver-based Urban Lights sold its 131k SF building at 1385-1393 S Santa Fe Dr to Focus Properties for $5.3M, then re-leased the top floor--55k SF in all. Cassidy Turley's Tyler Smith (above, who repped Urban Lights with colleagues Alec Rhodes and Aaron Valdez) tells us the new ownersplan to turnhalf of the building into self storage.Overall, Cassidy Turley is seeing a lot of investment interest in Denver industrial, Tyler says. While considered a second-tier industrial city, many investors see Denver as getting "sexier by the day," especially with the lack of institutional-grade product. This two-story industrial property is especially rare.
