Pecos North is a recently completed, class A multi-tenant, flex industrial project in Westminster, CO. A “dirt start” project of 177,000 finished SF, the now finished and fully leased project was recently valued at $35,000,000. Basham was the lead on the project along with two partners which entailed concept, land purchases, entitlement, design, permitting and construction, leasing and permanent loan financing.
The two-building project was quality constructed, high clear, tilt-up concrete, providing maximum flexibility for various tenant uses and finishes. The highest ceilinged portions accommodate overhead cranes and the loading was again flexible to offer either drive-in or dock-high loading.
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The project is a net leased to four regional and national credit tenants including: MTech Mechanical, Parsons Engineering, Masonite, and HRCS, Inc. The buildings are currently utilized as corporate headquarters, office and production facilities.
Cash out, long term permanent financing was recently procured. The performing asset is now a bright new addition to the Basham asset management portfolio and providing healthy cash flow and returns to Basham and investors.