DocuVault acquires West Sixth Commerce Center
LAKEWOOD, COLO. – Oct. 12, 2021 – Stream Realty Partners (Stream), a national real estate services, development, and investment company, is pleased to announce that it represented Gart Properties / Elkco Properties in the sale of West Sixth Commerce Center to DocuVault. The 154,950-square-foot building is located at 11111 West 6th Avenue in Lakewood, Colorado. DocuVault will occupy 52,877 square feet of the building and lease the remainder.
Stream’s Buzz Miller, Senior Associate, and Peter Beugg, Managing Director, represented the seller, Gart Properties / Elkco Properties. The buyer, DocuVault was represented by Matt Capecelatro of Citywide Commercial Properties and Mark Dwyer of Lincoln Property Company.
Historically marketed to and leased by retail users, Stream was hired to deploy a new leasing strategy of targeting industrial users for the vacant space. Within weeks of marketing the property for lease, Stream secured DocuVault to acquire the entire building and lease the vacant space. The total timeline from Stream’s commencement of marketing to closing was four months and the property sold for $17.8 million.
“With sub-three percent vacancy and strong owner/user demand in the West submarket, we were confident that industrial users would be attracted to West Sixth Commerce Center,” said Miller. “DocuVault will be the perfect complement to the center’s existing tenants while the purchase also allows the seller to execute on its business plan for the property.”
West Sixth Commerce Center is ideally located adjacent to the 6th Avenue Freeway and just minutes from Interstate 70, providing convenient access to neighboring communities. The property is situated in an Enterprise Zone and features heavy power, 32-foot clear height, and excellent signage and visibility to more than 100,000 vehicles per day along West Sixth Avenue.