REBusinessOnline

Investors Continue to Pay a Premium for STNL Retail Properties in Colorado

Single-tenant, net leased (STNL) retail properties continue to be among the most highly sought-after real estate investments. This is particularly true in Colorado and California where supply and demand constraints have created sales with significant premiums. [caption id="attachment_204749" align="alignright" width="100"] Zach Wright, Pinnacle Real Estate Advisors.[/caption] Investors are accustomed to paying low cap rates for single-tenant assets within California as these properties have …

Industrial Investors, Developers Turn Up the Heat in Denver

Denver industrial assets are achieving record pricing as cap rates compress well below 5 percent for Class A product. As this is happening, developers are taking on hefty projects, signaling that Denver’s industrial real estate cycle is stretching its legs instead of winding down. [caption id="attachment_204754" align="alignright" width="100"] Jessica Ostermick, CBRE[/caption] Among the headlines: • Denver’s single largest investment transaction on record occurred in the first …

Denver’s Multifamily Market Tests Its Limits

An interesting metric was reached in the Denver multifamily market during the first quarter of 2018 — and that’s record absorption. [caption id="attachment_204743" align="alignright" width="100"] Craig Stack, Colliers[/caption] The city already boasts accolades for quality of life, talks of strong in-migration and speculation of becoming the location for the second Amazon headquarters. After these, the most common topic of conversation for multifamily professionals is the …

Denver’s Dynamic Office Market Changes Face of Downtown

Denver’s office market has been riding a wave of expansion, entering its ninth straight year of growth, with net absorption totaling 186,826 square feet in the first quarter of 2018. While vacancy ticked up — ending at 15.9 percent, up from 15.1 percent in the prior quarter and from 14.6 percent one year ago — it is expected to fall over the next several quarters as tenants continue to absorb space in both new and existing buildings. [caption id="attachment_204739" …

Denver Industrial Market is Still Climbing

Denver’s industrial market has had an impressive run so far this economic cycle – so much so that the top-of-mind-question is, “Where do we go from here?” Last year was a prolific year, attracting new investors, delivering 4.5 million square feet of Class A space and posting the fifth straight year of sub-5 percent vacancy. But the outlook for 2017 is brighter given Denver’s strong economic foundation, the arrival of e-commerce users and delivery of much-needed warehouse …

Five Transformative Years Elevate Denver’s Office Market

The region is creating transformative projects that are substantially elevating the desirability of its office market five years into Denver’s strong development cycle. This trend — strongest in Denver’s Central Business District (CBD) and Southeast Suburban (SES) submarkets — is attracting a new breed of tenants to the Denver landscape. [caption id="attachment_181853" align="alignright" width="100"] Jamie Gard, Newmark Grubb Knight Frank[/caption] [caption …

Job Growth Encourages Industrial Development

Denver’s economic growth, its reputation as a commercial hub in the Rockies and the growth in e-commerce sales are all factors contributing to the metro’s strong industrial property performance. [caption id="attachment_182226" align="alignright" width="100"] Bob Kaplan, Marcus & Millichap[/caption] Denver employers are on track to add 39,000 new workers to their headcounts by year end, expanding the local workforce by 2.8 percent, with the professional and business services and …

Vestar Acquires Bowles Crossing Shopping Center Near Denver for $76.1M

LITTLETON, COLO. — Vestar has acquired Bowles Crossing, a 409,457-square-foot regional shopping center in the Denver suburb of Littleton, for $76.1 million. The 53.8-acre Bowles Crossing is one of the area’s top regional shopping destinations in the southwest Denver metro area. Tenants at the center include Trader Joe’s, DSW Warehouse, Ross Dress for Less, Gordmans and a newly renovated AMC Theatre. The center is located at 8055 W. Bowles Ave., at the northeast corner of Wadsworth …

Lancaster Pollard Hires Rob McAdams to Open Office in Denver

DENVER — Rob McAdams has joined Lancaster Pollard and will open a new office for the firm in Denver. McAdams will serve the lender’s clients in Colorado, Wyoming, Montana and Idaho and will oversee the structuring and funding of healthcare project financings for hospitals and senior living providers in those states. McAdams has been involved in investment sales and debt and equity structuring for the hotel and hospitality industry since 2005 and most recently served as a partner at U.S. …

Starwood, East West Partners to Build $190M Office Property in Denver

DENVER — Starwood Capital Group and East West Partners have announced plans to develop a $190 million office building in Denver’s Union Station neighborhood. The 250-foot-tall building will be known by its address, 16 Chestnut. The property will have frontage along both 16th and 17th streets. DaVite HealthCare Partners will be the first tenant. The kidney care provider will expand upon its current space, which is across the street. It will occupy about 265,000 square feet. DaVita …

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