DOVE CREEK, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a retail property located at 468 US-491 in Dove Creek. The asset traded for $1.4 million. Family Dollar and Dollar Tree currently occupy the 10,500-square-foot asset. Peter Sengelmann of Pinnacle Real Estate Advisors represented the buyer in the transaction.
DENVER — CBRE has arranged the sale of Denver Cascade, a manufacturing home community in Denver. Denver Cascade LLC sold the asset to an undisclosed buyer for $62 million. Situated on 48 acres at 9650 Federal Blvd., Denver Cascade offers 382 home sites. Norm Sangalang, Erik Edwards, Jon Shay, Jez Lawson and Myles McGinnis of CBRE’s Manufactured Housing & RV Resorts team represented the seller in the deal.
AURORA, COLO. — Consolidated Investment Group has obtained $17.7 million in financing for Eastpark 70’s Buildings 5 and 6, a two-building Class A industrial portfolio in Aurora. Rob Bova and William Haass of JLL Capital Markets secured the fixed-rate, five-year loan for the borrower. Completed in 2022, the 235,987-square-foot portfolio consists of buildings located at 19822 E. 22nd Ave. and 19922 E. 22nd Ave. The facilities offer 32-foot clear heights, ample dock-high and drive-in loading and ESFR sprinkler systems. The properties are fully leased to three tenants.
LOVELAND, COLO. — Hunt Midwest has sold Capstone at Centerra, an assisted living and memory care property in Loveland, to California-based IRA Capital for $40 million. Completed and opened in 2023, Capstone at Centerra is Hunt Midwest’s most recent Capstone senior living development and the company’s first development in Colorado. The community offers 102 studio, one- and two-bedroom apartments with granite countertops, stainless steel appliances and high-quality flooring. Capstone at Centerra includes a full-service dining room, fitness center, landscaped outdoor spaces, a salon, library, game room and scheduled transportation services. Capstone at Centerra is the third Capstone senior living community developed by Hunt Midwest, including the Capstone at Royal Palm in Royal Palm Beach, Fla., and Capstone at Station Camp in Gallatin, Tenn. Charles Bissell and Tony Hong of BWE Investment Sales represented Hunt Midwest in the transaction.
DENVER — BMC Investments and Rockpoint have broken ground on The Oasis Apartments at Cherry Creek North at 299 Milwaukee St. in Denver. BMC and Rockpoint formed a partnership in April 2022 to purchase and develop the site. The project will feature 177 residential units, 28,000 square feet of ground-floor retail space and a 6,000-square-foot public park with fountains at the corner of Third Avenue and Milwaukee Street. Community amenities will include a rooftop pool, fitness center, coworking space and resident lounge. Site work is underway with vertical construction expected to start in February 2025. Completion is slated for early 2027. Shears Adkins Rockmore is serving as architect and The Beck Group is serving as general contractor. Sam Zaitz of JLL and Julie McBrearty of SullivanHayes are handling leasing for the project’s retail space.
BROOMFIELD AND LOVELAND, COLO. — Prism Places has partnered with McWhinney to develop two separate commercial districts in Northern Colorado’s Broomfield and Loveland. The first project, Center Street, is slated to serve as the business district for Baseline, an 1,100-acre master-planned community in Broomfield. The walkable 312,000-square-foot commercial center will include 80,000 square feet of office space, 116,00 square feet of retail space, 37,000 square feet of grocery space and 78,000 square feet of restaurant space. Additionally, Center Street will offer more than 400 residential units. Michael Hsu Office of Architecture has designed the project, which already has an organic grocer preleased. The second project, Avenue South, will be the business and commercial hub for Centerra, a 3,000-acre master-planned community in Loveland. Totaling 360,000 square feet, Avenue South will include a 128,000-square-foot retail component, a 127,000-square-foot Class A office portion and 1,750 residential units. Architects Orange is designing Avenue South, which has a 37,000-square-foot lease signed with an organic grocer. Center Street is slated to break ground in September 2026, and Avenue South is scheduled to break ground in November 2025.
ENGLEWOOD, COLO. — Pinnacle Real Estate Advisors has brokered the sale of an industrial building located at 3950-3960 S. Mariposa St. in Englewood. The asset traded for $2.2 million. The 16,000-square-foot, small-bay property offers eight 2,000-square-foot units. Peter Sengelmann of Pinnacle Real Estate Advisors represented the undisclosed seller in the deal.
DENVER — Malman Commercial Real Estate has arranged the sale of 1135 E. Evans Ave. and 2085 S. Downing St. in Denver. Mazon Evans LLC acquired the assets from Downing & Evans LLP for $1 million. The asset offers 6,700 square feet of retail space. Jake Malman of Malman Commercial represented the buyer, while Mark Pyms of Panorama Commercial Brokerage represented the seller in the deal.
DENVER — Tom Saurey, manager of Centerpoint Holdings LLC and founder and CEO of Tuff Shed, has purchased Centerpoint I and II, two office buildings located at 3900 E. Mexico Ave. and 1777 S. Harrison St. in Denver, from TerraCap Management LLC for $23 million. At the time of sale, the properties were 70 percent leased. Totaling 373,916 square feet, Centerpoint I and II offer a renovated, modern lobby and tenant lounge, a new conference facility and new full-service deli/café. The property has also undergone updates to the elevators and mechanical systems. The new ownership plans to complete some amenities and fitness upgrades. Tuff Shed recently renewed its 29,087-square-foot, long-term lease in the building at 1777 S. Harrison St., which includes a large indoor showroom and sales center on the first level, as well as two floors of office space. Tributary Real Estate brokered the sale, and Dunton Commercial will manage the property for the new owner.
COLORADO SPRINGS, COLO. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.7 million loan for the refinancing of a medical office building located at 2860 S. Circle Drive in Colorado Springs. Tenants at the medical office include a mental health clinic, a counseling clinic, an esthetic clinic, an acupuncture clinic and a treatment center. Garrett Fierstein of MMCC secured the financing with a local credit union on behalf of a private client. Terms of the 10-year loan include a 6.75 percent fixed interest rate with a 25 year-amortization schedule and a loan-to-value ratio of 65 percent.
