DENVER--(BUSINESS WIRE)--Arc Capital Partners LLC (“Arc Capital Partners”), a boutique commercial real estate investment platform, acquired a 370,000-square-foot Sears distribution facility and retail outlet located in Denver’s urban central submarket. While the property is best known as the location of Denver’s only Sears Outlet, it also includes a 330,000-square-foot warehouse/logistics facility on 18 acres of land. Arc Capital Partners acquired the property from Sears Logistics Services, Inc. through an affiliated joint venture.
Arc Capital Partners engaged Denver-based Triumph Real Estate Corporation (“Triumph”) to acquire, upgrade and convert the existing buildings into a thriving industrial and retail park. The property is situated near a highly visible intersection of I-25 and 6th Avenue and offers tenants immediate on/off ramp highway access as well as truck loading and trailer parking capacity rarely found near Denver’s central business district.
“For the first time in over 50 years this property will be open to tenants seeking a centrally located industrial, logistics or retail space in a submarket with less than 2% vacancy,” said Neville Rhone, Managing Partner of Arc Capital Partners. “Denver’s robust economy and growing population bodes well for the sustainable demand growth we seek in our real estate investments.”
Arc Capital Partners and Triumph have begun to receive unsolicited tenant inquiries and are preparing to commence a formal marketing process.
About Arc Capital Partners LLC
Founded in 2013, Arc Capital Partners LLC is a Los Angeles-based boutique commercial real estate investment platform co-founded by Quincy Allen and Neville Rhone to target middle-market investments ($10 – $50 million of value) in high-demand employment centers that are expected to benefit from rapid growth within millennial and diverse population groups. The firm focuses on value-add/opportunistic assets in the western sunbelt region of the U.S. in need of recapitalization, repositioning or development capital.