CORFAC News

Contact:
Brady Welsh
bwelsh@bitzerrep.com
303.296.8500

Denver, CO (January 2, 2013) – Bitzer Real Estate Partners/CORFAC International announced today that on December 26th Ron Webert and Brady Welsh sold 2780 Tower Road in Aurora, CO to Steven Roberts Originals for $11 million. Located along I-70, 2780 Tower Road is a former regional distribution center for Albertsons that totals over 386,000 square feet of cooler, freezer and dry warehouse space on 44 acres.

The sale is one of the largest industrial building sales to an occupier in the market in 2012 – if not the largest industrial property sale to a user in the Denver area last year, according to CoStar research.

“After being available for close to three years, this is both a significant transaction for the local industrial real estate market and a very important deal for the City of Aurora. Steven Roberts Originals is projected to bring a significant number of new jobs to Aurora and make extensive capital improvements to convert the property in to food production space,” said Webert.

Albertsons had used the property for food warehousing and distribution only.

Steven Roberts Originals will occupy the majority of the facility and will work to lease out at least 100,000 square feet of excess dry warehouse space. The seller, Albertsons LLC, was represented by Webert and Welsh with Bitzer Real Estate Partners/CORFAC International and Steven Roberts Originals was represented by Tom Myers and Greg Knott with Unique Properties.

“This is another example of the strength of the food industry in the Denver market even during a slow economic recovery. Several of the largest transactions in the industrial market in 2012 were food related,” said Welsh.

About Bitzer Real Estate Partners
Bitzer Real Estate Partners/CORFAC International is a Denver based full service commercial real estate company founded in 1995. Bitzer offers expertise, experience and exceptional performance in Landlord/Seller Representation, Tenant/Buyer Representation, Corporate Services, and Commercial Real Estate Advisory Services for Office, Industrial and Land properties. Bitzer is also a proud member of CORFAC International (www.CORFAC.com). This relationship provides Bitzer Real Estate Partners with the national presence of over 50 offices in North America and over 20 offices internationally; and the capabilities for multi-market acquisition, disposition, and tenant representation assignments. For more information visit www.BitzerREP.com.

About CORFAC International
CORFAC International (Corporate Facility Advisors) is distinguished by the way it manages multi-market commercial real estate assignments on behalf of corporate entities and privately-owned companies. Founded in 1989, U.S.-based CORFAC is comprised of privately-held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services in North America, with coverage in South America provided by Panama-based Latin American Corporate Property Services. A Principal Member of FIABCI – the International Real Estate Federation with global affiliates in Europe and Asia, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. In recent years, CORFAC firms have averages 10,000 completed transactions annually encompassing nearly 100 million square feet and valued at more than $6 billion. For more information on CORFAC, contact (703) 532-6160 or visit www.corfac.com.