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Real Estate Business Review | Tuesday, October 15, 2024
FREMONT, CA: Flywheel Capital, a Denver-based vertically integrated commercial real estate investment, property management, and asset development firm, announced today the acquisition of two industrial properties: 4970 Cook St. in Denver and 5790 Dahlia St. in Commerce City, Colorado. These acquisitions are intended to strategically enhance Flywheel Capital's Industrial Outdoor Storage (IOS) capabilities in response to rising demand for IOS assets in strategic areas.
"IOS has emerged as a core focus for us, especially in the highly sought-after infill locations of Metro Denver," said Flywheel's Managing Director John Fefley. "The acquisition of these two properties strategically expands our footprint and strengthens our ability to serve the growing demand for flexible storage solutions. Ideally positioned to meet tenant needs, they offer fenced yard and outdoor storage space, excellent accessibility, and the flexibility to accommodate a wide range of uses."
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Flywheel Capital represented itself in the acquisition, while Newmark brokers Mike Viehmann, Mike Wafer, and Mike Wafer, Jr. represented the seller.
4970 Cook St. is a 20,000-square-foot, single-tenant net-leased industrial property on 2.47 acres that is conveniently located in an Opportunity Zone with easy access to major highways (I-70 and I-270). Goodyear Tire and Rubber now leases the site, which provides fenced, safe storage space for businesses with substantial inventory demands. The facility has been their operations base since 1998.
5790 Dahlia St., Commerce City, is a 7,000-square-foot property on 2.11 acres. The property has outstanding visibility from I-270 and convenient access via Vasquez Blvd. TransWood Carriers, a renowned bulk transportation company with over 40 locations nationwide, signed a long-term lease for the property in November 2023.
The acquisitions mark Flywheel Capital's second IOS-focused transaction in the last year. The company's total holdings currently exceed $360 million, covering more than 1.5 million square feet of office, industrial, and multifamily properties and ongoing and future development projects.
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