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Acme Capital

Pipeline/Thornton Business Park

Thornton Business Park

Demo
Denver, COMapIndustrialvia Marcus Chen – JLLNew

Overview

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Small bay industrial park, 95,000 SF, suburban Denver. 100% occupied with 8 tenants. Average lease term 2.8 years — rollover risk but strong market.

Risks

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- Short lease terms create rollover risk - Suburban location limits tenant pool - Older construction — 1998

Notes

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Just came in yesterday. Denver industrial is strong. Worth a closer look.

Financial Snapshot

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Purchase Price

$14,200,000

NOI

$852,000

Cap Rate

6.00%

Debt Rate

6.75%

LTV

65.00%

Projected IRR

13.50%

Strong Denver industrial market supports re-leasing at market or above on rollover.

Underwriting Score

Demo data59/100

59

out of 100

8 of 8 criteria scored

Location Grade

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Suburban Denver industrial location is functional with interstate access but limits the depth of prospective tenant pool.

Tenant Quality

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Eight diversified tenants mitigate concentration risk, though tenant credit profiles have not yet been formally verified.

Lease Term Remaining

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Average lease term of 2.8 years creates significant near-term rollover risk across multiple tenants simultaneously.

Debt Coverage Ratio

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100% occupancy supports current DSCR, but short lease terms expose the asset to re-leasing costs and potential downtime.

Cap Rate vs Threshold

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6.0% cap rate meets our acquisition threshold; the strong Denver industrial market supports the current basis.

Market Demand

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Denver industrial fundamentals are among the strongest in the Mountain West; vacancy rates remain historically low.

Physical Condition

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1998 construction; building systems are functional but aging — budget for deferred maintenance on roofing and dock equipment.

Exit Strategy Clarity

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Re-leasing at market rents on rollover is the primary strategy; thesis is straightforward but dependent on continued market strength.

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Contacts

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Marcus ChenbrokerSource

JLL

Decision Log

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Deal Createdabout 1 month ago

by Alex Rivera

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