STIHL invested $10.65 million to acquire 122,511 square feet in the Majestic Commercenter business park in Aurora, Colo., according to the Colorado Real Estate Journal.
According to the story, STIHL bought the distribution building at 21200 E. 36th Drive in Aurora from Opus Development Company LLC. The price per square feed was $86.93.
STIHL currently leases approximately 39,000 square feet off of Interstate 70 and Tower Road. The facility is used to distribute to and train STIHL dealers throughout Colorado and other Western states.
“They’ve outgrown their current space and needed a larger building, and wanted to own,” said Colliers International Vice President Barry Young. STIHL will occupy half to three-quarters of its new building starting in spring and will lease out the excess space, said Young, who represented the tenant in the acquisition and is marketing the available space.