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Englewood company picks up Johnstown industrial building for $14.6M

JOHNSTOWN — An Englewood property investor has purchased a new industrial warehouse property in the Ironhorse development at 3607 Ronald Reagan Blvd. in Johnstown. Purchase price was $14.6 million in a deal that closed Aug. 17.

Seller was IH Industrial One LLC, a company affiliated with McWhinney Real Estate Services Inc. Buyer was 3607 Ronald Reagan Owner LLC with an address of 4765 S. Clayton Court in Englewood. Stuart Platt is the listed registered agent. Platt is also the registered agent of Silver Point Development LLC.

The warehouse sits on 6.59 acres and is 50% leased, said Clayton Priston, a partner in Silver Point. Priston said the company’s intention is to hold and lease the property long term.

The building was completed in 2021. 

A real estate listing for the property notes that it is 68,619 square feet with an outdoor yard area. Up to 34,557 square feet is available for lease; Kimbel Mechanical Systems occupies the other half of the building. 

The building has clear heights of 24 feet. The rental rate was listed at $20 per square foot per year, plus triple net.

Source: BizWest