Colorado

HFF Arranges $10.2M Refinancing for 18,460 SF Mixed-Use Property in Denver

by Amy Works May 8, 2019

DENVER — HFF has secured $10.2 million in refinancing for 2nd and Clayton, a mixed-use office and retail property located in Denver’s Cherry Creek neighborhood. Unico Properties, a subsidiary of Unico Investment Group, is the borrower and used the proceeds to pay off an existing loan. Originally constructed in 1954, the asset comprises three buildings totaling 18,460 square feet of retail and office space. The properties are located at 2641, 2645, 2659 East 2nd Ave. and 211 and 227 Clayton St. Tom Wilson and Leon McBroom of HFF arranged the six-year, fixed-rate loan with a portfolio lender for the borrower.

May 8, 2019

Acquisitions Colorado Multifamily Western

Marcus & Millichap Negotiates $5.2M Apartment Building Acquisition in Colorado

by Amy Works May 6, 2019

WESTMINSTER, COLO. — Marcus & Millichap has facilitated the purchase of Bradburn Gardens, a 44-unit apartment building located at 7545 Bradburn Blvd. in Westminster. A private investor acquired the property for $5.2 million. Clayton Primm of Marcus & Millichap’s Denver office represented the buyer in the deal. Built in 1973 and situated on 1.5 acres, the building features 12 one-bedroom units, 31 two-bedroom apartments and one three-bedroom unit.

May 6, 2019

Acquisitions Colorado Retail Western

Newmark Knight Frank Brokers $1.3M Sale of Retail Property Near Denver

by Amy Works May 6, 2019

LAKEWOOD, COLO. — Newmark Knight Frank Colorado has arranged the sale of a retail property located at 1460 S. Wadsworth Blvd. in Lakewood. Wild Diversified LLC acquired the property from John Schmalz for $1.3 million. The property features 9,600 square feet of retail space. Steven Fletcher of Newmark Knight Frank Colorado represented the seller. Land Title Guarantee Co. and Colliers Bennett & Kahnweiler also participated in the transaction.

May 6, 2019

Acquisitions Colorado Office Western

Etkin Johnson Sells Lookout Business Center in Colorado for $10.5M

by Amy Works May 3, 2019

BOULDER, COLO. — Etkin Johnson Real Estate Partners has completed the disposition of Lookout Business Center, an office building located at 6150 Lookout Road in Boulder. Greenwich, Conn.-based Ivy Equities acquired the property for $10.5 million. The newly renovated building features 50,472 square feet of office space, open flexible floor plans, glass overhead doors, exposed 16-foot ceilings and updated landscaping. FIRST RF Corp., a women-oriented advanced technologies company, is the sole tenant of the property and will remain so under Ivy Equities’ ownership. Riki Hashimoto and Dan Grooters of Newmark Knight Frank represented the seller in the transaction.

May 3, 2019

Acquisitions Colorado Office Western

HFF Negotiates $71.1M Sale of Westmoor Place Office Campus Near Denver

by Amy Works May 2, 2019

WESTMINSTER, COLO. — HFF has arranged the sale of Westmoor Place 8, 9 and 10, a three-building office campus. An undisclosed seller sold the property to CapRidge Partners for $71.1 million. Located at 11400, 11300 and 11000 Westmoor Circle in Westminster, a northwest suburb of Denver, the asset totals 428,029 square feet of Class A office space. The three- and four-story buildings are 79 percent leased to a variety of tenants, including CACI International, Kahuna Ventures, Coalfire Systems and General Dynamics. Amenities at the office campus include a full-service cafeteria, showers on every office floor, a fitness center and access to 3.5 miles of trails and open space, as well as an on-call shuttle. Mark Katz and Peter Merrion of HFF represented the seller and procured the buyer in the transaction.

May 2, 2019

Colorado Company News Development Office Western

Amazon to Open 98,000 SF Office Location in Denver, Plans to Create 400 New Tech Jobs

by Amy Works May 1, 2019

DENVER — Amazon plans to expand its Denver Tech Hub and create 400 new high-tech jobs in a variety of fields, including software engineering, hardware engineering, cloud computing and advertising. To accommodate this growth, the company will open a 98,000-square-foot office at Invesco’s 1515 Wynkoop building in Denver’s Lower Downtown district. Currently, Amazon has more than 350 employees in the Denver area, building new products and services for the company’s retail, advertising and Amazon Web Services businesses. The company’s new office joins the company’s Boulder office, which opened last fall, and will allow Amazon to more than double its tech workforce in the Denver area. In total, Amazon has created more than 3,500 full-time jobs in Colorado. Over the last three years, Amazon has invested more than $1.5 billion in Colorado including infrastructure, compensation and Whole Foods Market.

May 1, 2019

Acquisitions Colorado Development Industrial Office Western

Cushman & Wakefield Brokers $4M Sale of Flex Development in Thornton, Colorado

by Amy Works May 1, 2019

THORNTON, COLO. — Cushman & Wakefield has arranged the sale of 67 acres of industrial-zoned land that will be developed into 25 North, a master-planned flex development in Thornton. A newly formed joint venture between RMS Properties Co. and Bow River Capital acquired the site for $4 million. Located at Washington Street and 148th Avenue in Thornton, 25 North will feature approximately 900,000 square feet of Class A industrial space. Construction of the first phase is underway and will include two speculative buildings totaling approximately 220,000 square feet. The site is zoned to allow for a variety of uses, including office, flex, industrial, warehousing, manufacturing and outdoor storage uses. Additionally, the development will offer new speculative development and land for build-to-suits, with buildings ranging in size from 50,000 square feet to 250,000 square feet. Matt Trone, Steve Hager and Joey Trinkle of Cushman & Wakefield Denver represented the seller, Regal Properties, in the transaction.

May 1, 2019

Acquisitions Colorado Multifamily Western

Nexus Commercial Brokers $3.8M Sale of Colony House Multifamily Property in Aurora, Colorado

by Amy Works April 30, 2019

AURORA, COLO. — Nexus Commercial Realty has negotiated the sale of Colony House, an apartment building located at 152 Del Mar Circle in Aurora. Colony House Denver LLC sold the property to an undisclosed buyer for $3.8 million. Developed in 1967, the building features 34 one-bedroom units and two two-bedroom units, as well as 36 parking spaces. The buyer plans to take over the operations of the property and make upgrades, while increasing rents to market value. Sean Holamon of Nexus represented the seller in the transaction.

April 30, 2019

Colorado Development Mixed-Use Office Restaurant Retail Western

Confluent, Kelmore Break Ground on 140,000 SF Boulevard at Lowry Mixed-Use Project in Denver

by Amy Works April 26, 2019

DENVER — Confluent Development and Kelmore Development have broken ground on The Boulevard at Lowry, a commercial mixed-use redevelopment project in Denver’s Lowry neighborhood. Situated on 1.5 acres, the infill development will feature 140,000 square feet of restaurant, retail and office space. A 25,000-square-foot Lucky’s Market will anchor the property. Additional tenants will include a 1,750-square-foot Logan House Coffee Co. Completion is slated for fourth-quarter 2020.

April 26, 2019

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Advisors Arranges $3.3M Sale of West Hill Apartments in Colorado

by Amy Works April 25, 2019

PUEBLO, COLO. — Pinnacle Real Estate Advisors has negotiated the sale of The West Hill Apartments, a multifamily property located in Pueblo. An undisclosed buyer acquired the 36-unit property for $3.3 million, or $91,388 per unit. The six-building asset features 32 two-bedroom/two-bath units and four two-bedroom/one-bath units. All units are individually metered for gas and electric, while 32 of the units are individually metered for water. Chris Knowlton of Pinnacle Real Estate Advisors represented both parties in the deal.

April 25, 2019

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