Net-leased industrial building trades

A single-tenant, net-leased industrial/flex building near the entrance to Coors Technology Center in Golden sold for $11.41 million.

The 51,700-square-foot building was constructed in 2013 as a build-to-suit for Pason Systems, which has 12 years remaining on its lease.

AO Lot 20, B1, CTC LLLP, a partnership headed by developer Allan Ojala, sold the property to 1616 Champa LLC. The buyer is a local group that was completing a 1031 tax-deferred exchange for its recent sale of Champa Square, a mixed-use building on the 16th Street Mall in downtown Denver.

The Pason Systems building, located at 16035 Table Mountain Parkway, wasn’t listed for sale. It provided an attractive investment because of the triple-net lease to a strong credit tenant, an accompanying outdoor yard, 24-foot clear height and high-quality construction, said Sam Leger of Unique Properties LLC-TCN Worldwide.