Companies continue to grow and expand to capture more market share. Amazon is doing just that but is divesting as part of its expansion strategy. The retail giant recently sold one of its distribution centers in Loveland, Colorado, as part of its long-term growth strategy.
Sources familiar with the matter stated public records showed Amazon took occupancy of the 122,806-square-foot industrial facility in November, using it as a distribution hub for Front Range communities, including Denver, Fort Collins, and Colorado Springs. According to the Colorado Real Estate Journal, California-based buyer Mark IV Capital acquired the 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. 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.
As Amazon continues to rock the retail landscape, Deli Market News will continue to report on the latest.