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3939 Kearney StreetDenver, CO 80216
3939 Kearney Street
Asset ClassIndustrial
overview of deal

Overview

Kenai Capital Advisors ("Kenai"), acting as exclusive advisors for the Seller, is pleased to present the opportunity to acquire 3939 Kearney Street, a fully renovated industrial service facility in Denver, Colorado. The 45,583-square-foot brick building sits on 2.31 acres and is 100% leased to Tolin Mechanical Systems Company, LLC under a long-term NNN lease through March 31, 2036. Originally constructed in 1959 and renovated in 2023 and 2026, the property serves as Tolin’s corporate headquarters, supporting office, distribution, storage, and maintenance operations.

Tolin Mechanical Systems has operated in Denver since 1948 and is part of the Service Logic platform, the largest privately held commercial HVAC services provider in North America. In December 2025, Bain Capital acquired Service Logic in a $3.1 billion co-investment with Mubadala Investment Company. The property benefits from over $3.9 million in combined landlord and tenant investment, underscoring its importance to the tenant’s long-term operations.

 

The asset is offered as a stabilized, NNN-leased investment with annual rent escalations, no near-term capital requirements, and a 20-year roof warranty, providing durable and predictable cash flow through the lease term.

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Investment Highlights

  • Established Regional HVAC Tenant With National Platform Backing
  • Demonstrated Tenant and Landlord Capital Commitment Totaling $3.9 Million
  • 10 Year NNN Lease with Contractual Annual Escalations and Zero Near-Term Capital Requirements
  • Irreplaceable Infill Denver Location with Multi-Directional Metro Access
  • Functional Distribution and Dispatch Hub Supporting Full Regional Operations
  • Significant Discount to Replacement Cost
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3939 Kearney StreetDenver, CO 80216

Kenai Capital Markets Team

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