Rick Egitto, CCIM, Principal with Avison Young, and Justin Rayburn, Principal with Fountainhead Commercial represented the seller, Mile High Labs. The all-cash buyer, ScanlanKemparBard, was self-represented.

Operated for years as a round-the-clock pharmaceutical Good Manufacturing Practices (GMP) manufacturing facility, the property, situated on just over 20 acres, comprises a two-building, 436,534-square-foot pharmaceutical/industrial campus. The main building, totaling 411,034 square feet, primarily comprises office, manufacturing processing, packaging, laboratory and climate-controlled warehouse areas. The second floor includes general engineering and office areas, laboratory areas and an employee cafeteria that is accessed via a sky bridge over the roof of the building. The second 25,500-sf building comprises laboratory and office areas. Notably, the buildings collectively feature nearly 12,000 amps of power.

Dixon Hinderaker, Vice President of Acquisitions with ScanlanKemparBard said, “We found the location of the property along US Highway 36 very attractive. Located equidistant to Boulder and Denver, the property allows prospective tenants the ability to leverage a highly skilled labor pool. Furthermore, the property features specialized attributes of climate-controlled warehouses, significant power, clear heights up to 38 feet, and the ability to accommodate outside storage space for prospective tenants. We are excited to bring a new chapter to the site.”

“The Denver industrial market continues to see solid investor and tenant demand even as the industrial vacancy rate temporarily hovering around 8% due to a significant amount of large bay warehouses recently having been delivered into the market,” said Egitto. “This asset provides the new ownership with the opportunity to capitalize on a strategic location for mid-market tenants seeking to serve the Boulder/Broomfield/Denver markets as well as the entire metro area.”

ScanlanKemperBard is a real estate investor, operator and developer specializing in Urban Industrial and Suburban Mixed-Use commercial properties. The firm brings a cumulative approach and single-minded commitment to creating value for its partners: institutions, high-net-worth investors, trusts, and family offices. Since SKB's founding nearly three decades ago, the firm has originated more than $5.5 billion in total portfolio activity.