Former Sports Authority warehouse sells for $11M

Sports Authority closed its 200,000-square-foot Kalamath warehouse in April. (Aaron Kremer)

Sports Authority closed its 200,000-square-foot Kalamath warehouse in April. (Aaron Kremer)

An empty warehouse that for decades stored merchandise bound for Sports Authority shelves has sold for $10.95 million.

Maryland-based Realterm bought the former warehouse at 50 S. Kalamath St. last week.

Listing broker Alex Ringsby said the 212,000-square-foot warehouse will be a good fit for distribution companies looking for a hub at the end of their supply chain, where goods come in from larger distribution centers and ship to final destinations around Denver.

“One of the problems that we’re trying to solve in the marketplace with this property is the so-called ‘last mile’ need,” Ringsby said. “It’s a kind of just-in-time fulfillment center for large distributors or retailers such as Wal-Mart or Amazon.”

Ringsby, of Denver brokerage Ringsby Realty, represented Realterm along with fellow Ringsby broker Scott Patterson. He said they’ll look to lease it for $7 to $8 per square foot, depending on lease terms, tenant credit and improvements.

“We’re just getting started on the marketing process, but we’re already entertaining proposals,” Ringsby said. “The current interest has been between 50,000 and 100,000 square feet, and it could be one tenant or multiple tenants.”

The property takes up the entire block bounded by Ellsworth Avenue, Kalamath Street, Bayaud Avenue and Santa Fe Drive. Realterm also acquired a small triangular lot across Bayaud Avenue.

The seller in the deal was an LLC led by Dave Hagan, whose firm paid $3.7 million for the building in 2014, according to Denver city real estate records.

Sports Authority operated out of the Kalamath Street warehouse until April last year, when it shut down its distribution center and cut 70 employees. The now-defunct sporting goods retailer was the only tenant.

Hagan told BusinessDen in February 2016 that there was about one year left on Sports Authority’s lease. 

Sports Authority closed its 200,000-square-foot Kalamath warehouse in April. (Aaron Kremer)

Sports Authority closed its 200,000-square-foot Kalamath warehouse in April. (Aaron Kremer)

An empty warehouse that for decades stored merchandise bound for Sports Authority shelves has sold for $10.95 million.

Maryland-based Realterm bought the former warehouse at 50 S. Kalamath St. last week.

Listing broker Alex Ringsby said the 212,000-square-foot warehouse will be a good fit for distribution companies looking for a hub at the end of their supply chain, where goods come in from larger distribution centers and ship to final destinations around Denver.

“One of the problems that we’re trying to solve in the marketplace with this property is the so-called ‘last mile’ need,” Ringsby said. “It’s a kind of just-in-time fulfillment center for large distributors or retailers such as Wal-Mart or Amazon.”

Ringsby, of Denver brokerage Ringsby Realty, represented Realterm along with fellow Ringsby broker Scott Patterson. He said they’ll look to lease it for $7 to $8 per square foot, depending on lease terms, tenant credit and improvements.

“We’re just getting started on the marketing process, but we’re already entertaining proposals,” Ringsby said. “The current interest has been between 50,000 and 100,000 square feet, and it could be one tenant or multiple tenants.”

The property takes up the entire block bounded by Ellsworth Avenue, Kalamath Street, Bayaud Avenue and Santa Fe Drive. Realterm also acquired a small triangular lot across Bayaud Avenue.

The seller in the deal was an LLC led by Dave Hagan, whose firm paid $3.7 million for the building in 2014, according to Denver city real estate records.

Sports Authority operated out of the Kalamath Street warehouse until April last year, when it shut down its distribution center and cut 70 employees. The now-defunct sporting goods retailer was the only tenant.

Hagan told BusinessDen in February 2016 that there was about one year left on Sports Authority’s lease. 

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

POSTED IN Commercial Real Estate

Editor's Picks

Leave a Reply

Your email address will not be published. Required fields are marked *