Amazon Distribution Center Sold for $32.63 Million
SEATTLE, WA - While Amazon continues to grow its business, the retailer has implemented a heightened focus on its real estate. As part of its growth strategy, Amazon has sold one of its distribution centers in Loveland, Colorado.
According to the Colorado Real Estate Journal, California-based buyer Mark IV Capital acquired the 122,806-square-foot industrial facility at 4541-4555 Viking Way, along with an adjacent parking lot, from seller and developer McWhinney. The property sold for $32.63 million, nearly $266 per square feet.
The source further stated public records showed Amazon took occupancy of the entire facility in November, using it as a distribution hub for Front Range communities, including Denver, Fort Collins, and Colorado Springs.
Listed last spring, JLL Capital Markets Managing Director Larry Thiel said the property saw significant interest from a wide variety of investors but was ultimately purchased by a buyer familiar with Colorado who owns office and industrial assets across the state in Broomfield, Denver, and Englewood.
Where will the retailer look to next to continue its growth? Find out here on AndNowUKnow as we keep our eyes on the newswire.