Newmark Arranges $7 Million Sale of Fully Leased IOS Site at E. 68th Avenue in Central Denver

Newmark has arranged the $7 million sale of a fully leased industrial outdoor storage (IOS) property at 1707–1761 E. 68th Avenue in Denver, Colorado, the firm announced Aug. 26. The buyer, E 68TH AVE IOS LLC, acquired the approximately 7.17-acre site from a Starpoint Properties, LLC entity.

Deal Details and Brokerage Team

Newmark Managing Director Mike Viehmann, Executive Managing Director Mike Wafer Jr., Senior Managing Director Mike Wafer Jr., and Associate Reagan Todd represented the seller in the transaction. The $7 million price implies a land basis of roughly $22 to $23 per square foot on the approximately 312,000-square-foot site.

The deal marks an exit for Starpoint Properties, LLC, which previously acquired the parcel — then described as a 7.14-acre industrial land site at 1701–1761 E. 68th Avenue — for $6.7 million, or approximately $21.54 per square foot. Starpoint subsequently leased the yard to stabilize the asset before bringing it to market as a fully occupied IOS property.

"Opportunities to acquire industrial development sites within central Denver are increasingly rare," Viehmann said. "The property offered a unique combination of heavy industrial zoning, in-place income with flexible lease terms and long-term redevelopment potential within Denver's premier industrial submarket."

Bryce Daneshrad, Senior Acquisitions & Capital Markets Analyst at StarPoint Properties, LLC, credited the brokerage team's market reach with delivering the outcome. "Transacting in today's market demands tenacity and expertise, and this transaction was no exception," Daneshrad said. "Mike Viehmann and the Newmark team put in significant time canvassing the buyer pool and found a group that appreciated the property's in-place income and its long-term redevelopment potential. Their persistence and command of the Denver industrial market delivered a strong outcome for our investors."

Property and Location

The site is located within Denver's North Central industrial submarket and carries heavy industrial zoning that permits outdoor storage. The property is fully leased and is configured to support future industrial redevelopment while generating income through its existing tenancy.

The location provides access to several major transportation corridors, including I-25, I-70, I-76, I-270, and U.S. Route 36, as well as proximity to Downtown Denver. The site falls within both an Opportunity Zone and the Adams County Enterprise Zone, designations that can provide tax incentives to qualifying investors and businesses.

The immediate E. 68th Avenue corridor has drawn sustained IOS investor interest. A separate, off-market transaction involving 1700 E. 68th Ave — an 82,394-square-foot warehouse on 6.3 acres with expansive outdoor yard and storage — traded for $11.5 million, illustrating that the corridor has become a recognized cluster of permitted and active IOS uses.

IOS Sector Performance

The transaction reflects broader momentum in the IOS segment of the industrial market. According to Newmark Research, IOS rents have increased 123% since 2020 — more than twice the rate of bulk warehouse rent growth over the same period. IOS vacancy runs at roughly half the rate of bulk warehouse, pointing to tighter supply-demand fundamentals across the segment.

Newmark Research has estimated the readily tradeable IOS market at approximately $200 billion in market capitalization within its studied footprint, underscoring the scale of institutional capital now targeting the asset class. Minimal purpose-built IOS development and a diverse tenant base have contributed to the sector's tight vacancy and sustained rent growth.

The Denver transaction illustrates the value-add playbook that has attracted institutional capital to IOS: acquire infill-zoned land with outdoor storage rights, capture rent growth during the hold period, and exit into a deepening pool of IOS-focused buyers.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate advisory and services firm. For the twelve months ended June 30, 2026, Newmark generated revenues of more than $3.6 billion. As of that date, Newmark and its business partners operated from over 195 offices with more than 10,000 professionals across four continents.

Sources: Newmark press release, Aug. 26, 2026