Five Star Tires & Service, a Subsidiary of Logistifreight, Leases 45,600 SF on 15.44 AC
DENVER, CO (August 12, 2022)—Industrial Outdoor Ventures (IOV), the Chicago-based industrial investment and management firm with a focus on Industrial Service Facilities (ISFs), has successfully completed a long-term lease with Five Star Tires & Service, Inc. at 18000 E 22nd Avenue in Aurora. The property, acquired by IOV last Fall is zoned for heavy industrial uses, and totals 45,600 square feet of service/office buildings on 15.44 acres.
Five Star Tires & Service, Inc. is a subsidiary of Logistifreight is an existing portfolio tenant of IOV’s at 18151 E. 6th Ave, Aurora, CO. Five Star will be using the property primarily as a truck parking and service facility because of its large secure yard area, with over 390 parking stalls.
Included in the building space is approximately 28,617 sq. ft. of maintenance space, including two, 7.5-ton cranes, one, 3-ton crane, floor drains, eight drive-thru bays, 30-ft. clear heights and, one dock loading position.
Immediately after acquisition, IOV performed various interior and exterior updates to bring the property into “tenant ready” condition.
“We are excited to continue building our relationship with Logistifreight and welcome and accommodate its subsidiary, Five Star Tires & Service, as a tenant at our facility in Aurora,” said Eric Johnson, Industrial Outdoor Ventures.
The asset is one of eight ISF properties that IOV has acquired in the Denver area; bringing total AUM to 198,992 SF of buildings and 112 acres throughout the market.
Mike Camp, Senior Vice President, and Jim Bolt, Vice Chairman, both of CBRE, represented Industrial Outdoor Ventures in this transaction. Jeff Samuelson with Realty One Group Premier represented the tenant.
ERIC JOHNSON
Senior Vice President, Development & Acquisitions
Phone: 312.898.2978
Email: eric@iovre.com
ANTHONY DELAURENTIS
Acquisitions Officer
Phone: 847.595.0263
Email: anthony@iovre.com