Longmont industrial site trades for $9.4M
LONGMONT — Denver-based investment firm ZS Capital LLC has purchased a 57,000-square-foot industrial building in Longmont’s Kansas Avenue Office Park for $9.4 million from Alice & Sage Development LLC.
A Crested Butte-registered business entity, Alice & Sage, bought the nearly 40-year-old small-bay industrial and flexible office property at 1500 Kansas Ave. in 2019 for $7.2 million, Boulder County real estate records show.
“The appeal of small-bay industrial properties like 1500 Kansas Avenue lies in their high demand from smaller to mid-sized businesses looking for flexible spaces in prime locations coupled with limited new availability due to construction costs,” ZS co-founder Derek Conn said in a prepared statement. “Our local expertise allows us to capitalize on opportunities that larger institutional investors may overlook. This acquisition perfectly exemplifies the type of real estate we’re focused on aggregating as a firm—strategically located assets with strong growth potential.”
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ZS Capital, according to its online portfolio, owns commercial and multifamily residential properties in the Denver metropolitan area.
“The completion of this acquisition marks ZS’ first investment under our inaugural General Partner Fund and demonstrates our commitment to continue building a diversified real estate investment portfolio in Colorado,” ZS’ other co-founder, Spencer Pariser, said in a statement. “We remain focused on the industrial and multifamily asset classes and this fund creates the ability to dramatically scale alongside our diversified network of equity partners.”
SVN broker Jeff Heine represented Alice & Sage in the deal, while ZS Capital represented itself.
