It isn't that large (10k SF), but the distinctively shapped 201 S Rio Grande Blvd building is well known as HQ of TUFF SHED, a nationwide dealer of storage buildings and garages. The building's long-time owner, an LLC, sold it recently to industrial investment specialist Tenbar. TUFF SHED will remain in the property. NGKF director Russell Gruber, who repped the buyer, says "Everyone knows this building, and TUFF SHED’s commitment to Denver makes the property a promising investment opportunity.”
Russell tells us the high price ($135/SF) is an indication of the central market's value. Moreover, sales activity for industrial buildings in the area has been robust, driven by owner-users but also investor interest. "The continuation of historically low vacancy in the central submarket will push prices and rental rates up in the coming months,” he says.
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