Tuesday, October 19, 2021

Two metro-area real estate deals fetch a total of nearly $58 million

Records management company DocuVault has purchased West Sixth Commerce Center in Lakewood for $17.8 million.

Gert Properties / Alco Properties, represented by Stream Realty Partners, sold a 154,950 square foot building at 11111 W Sixth Avenue. DocuVault will use 52,877 square feet and lease the rest of the building, Stream Realty said in a statement.

Property has historically been marketed and leased by retail businesses. Stream Realty said it was hired to target industrial users for the space. The deal was completed in four months.

“With sub-three percent vacancy in the West submarket and strong owner/user demand, we were confident that industrial users would be attracted to West Sixth Commerce Center,” said Buzz Miller, senior associate at Stream Realty.

The property is in an enterprise area and adjacent to US 6. DocuVault was represented by Citywide Commercial Properties and Lincoln Property Company.

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