ZS Capital Partners (ZS), a Denver-based real estate investment and development firm with institutional roots and an entrepreneurial spirit, has acquired 1500 Kansas Avenue in Boulder County. The 57,600-square-foot property includes four small-bay flex warehouse buildings in Longmont. The property is currently fully leased to 11 diverse users.
“The appeal of small-bay industrial properties like 1500 Kansas Avenue lies in their high demand from smaller to mid-sized businesses looking for flexible spaces in prime locations coupled with limited new availability due to construction costs,” said Derek Conn, co-founder of ZS Capital Partners. “Our local expertise allows us to capitalize on opportunities that larger institutional investors may overlook. This acquisition perfectly exemplifies the type of real estate we’re focused on aggregating as a firm — strategically located assets with strong growth potential.”
Longmont boasts some of the highest projected population growth in the Denver metro area. Just 20 minutes from the City of Boulder and 45 minutes from Denver, Longmont benefits from a highly skilled/educated workforce, which appeals to a broad base of employers. As a result, companies continue to choose the Northwest region as an employment destination due to its centralized location and access to a talented labor force.
“The completion of this acquisition marks ZS’ first investment under our inaugural General Partner (GP) Fund and demonstrates our commitment to continue building a diversified real estate investment portfolio in Colorado,” noted Spencer Pariser, fellow ZS Capital Partners co-founder. “We remain focused on the industrial and multifamily asset classes and this fund creates the ability to dramatically scale alongside our diversified network of equity partners.”
ZS purchased the property from Alice & Sage Development. Jeff Heine at SVN represented Alice & Sage Development and ZS Capital Partners was unrepresented in the transaction.