Pathfinder Severs Ties with Colorado Industrial Asset

Pathfinder Partners recently sold a 49,000-square-foot industrial property in Lakewood, Colo.
Garrison Business Park, Lakewood, Colo.

Garrison Business Park, Lakewood, Colo.

DenverPathfinder Partners LLC of San Diego recently parted ways with a flex-industrial property in Lakewood, Colo., marking the company’s ninth disposition in the Centennial State since 2009.

Located at 9195-9197 W. 6th Ave., Garrison Business Park was fully leased at the time of sale by tenants such as Pinkard Construction and Golder Associates. CAM Lakewood LLC paid $7.5 million for the 49,000-square-foot industrial asset.

Pathfinder acquired the property back in 2012 from the real estate-owned department of a CMBS special servicer. The asset features functional office, laboratory and warehouse space with nine roll-up loading doors, 16-foot high ceilings and extensive parking. Conveniently located in Lakewood, Colo., adjacent to U.S. Highway 6, Garrison Business Park is roughly 32 miles away from the city of Denver.

“We were attracted to the project’s location and diversified tenant base and remain bullish on the Denver metro area, which has demonstrated population and employment growth well above the national average for the past several years,” Lorne Polger, senior managing director at Pathfinder, said in prepared remarks. “When we originally purchased the property, we knew vacancy for class-B ‘flex’ buildings in the Lakewood submarket was historically low – and that Garrison was well positioned to benefit from improving market fundamentals.”

Earlier this week, Pathfinder also acquired the 39 remaining condos within Park House, a three-story, 83-unit luxury condominium community in Las Vegas.

Image courtesy of Pathfinder Partners