United Properties sold the Enterprise Business Center Building 7 (EBC 7) for $25.5 million. The 157,942-square-foot industrial property is located at 9420 E. 40th Avenue in Denver. The buyer is Dream US Industrial Fund, an entity of Dream REIT.
Mike Wafer, Tim Richey, Michael Wafer Jr., Mike Viehmann, Jack Richey and Sean Fitzgerald of Newmark represented United Properties, which started development on Enterprise Business Center in 2015 and constructed Building 7 in 2017. The EBC campus is home to major tenants including FedEx, Coca-Cola, Breakthru Beverage, Tire Rack and Aramark.
“EBC 7 checks every box for today’s industrial investor, as a Class A building in a core infill location, with the upside of below-market rents and a short-term WALT,” added Wafer.
According to Newmark Research, Denver’s east region is the largest and most institutionally owned industrial submarket, accounting for roughly 42% of the market’s inventory and 62% of its absorption
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