Colorado

Sperry Properties Sells Yosemite Office Plaza in Southeast Denver for $13.3M

by Amy Works October 31, 2019

DENVER — Irvine, Calif.-based Sperry Properties has completed the sale of Yosemite Office Plaza, an office property located at 3600 S. Yosemite St. in Denver. Miami-based SF Partners acquired the asset for $13.3 million. James Brady, Campbell Davis, Mike Winn, Jenny Knowlton and Tim Richey of CBRE represented the seller in the deal. CBRE’s John Marold, Mitch Bradley and Lindsay Gilbert are handling leasing for the property. Built in 1974 and renovated in 2018, the 10-story property features 126,436 rentable square feet on approximately 6 acres. The building also includes underground parking and surface parking, as well as a fitness facility and outdoor building terrace. At the time of sale, the property 97 percent occupied by 26 tenants.

October 31, 2019

Acquisitions Colorado Retail Western

Marcus & Millichap Brokers $9.2M Purchase of Country Club Village Retail Property in Colorado

by Amy Works October 29, 2019

WESTMINSTER, COLO. — Marcus & Millichap has facilitated the sale of Country Club Village, a retail asset located at 2721 and 2821-2851 W. 120th Ave. in Westminster. A California-based private investor acquired the asset for $9.2 million. Tenants at the 33,091-square-foot property include Caribou Coffee Co., TCBY Yogurt, Ana’s Mexican Restaurant, Hana Matsuri Sushi and Gillett Veterinary Clinic. Ryan Bowlby of Marcus & Millichap’s Denver office represented the buyer in the deal. Phillip Gause, also of Marcus & Millichap, secured financing for the transaction. The financing features a fixed, long-term interest rate with a 30-year amortization term and no prepayment penalty.

October 29, 2019

Colorado Market Reports Office Western Western Market Reports

Innovative Solutions Continue to Push the Office Market in Denver

by Taylor Williams October 25, 2019

Denver was one of the top major metros targeted by commercial real estate investors in 2018. This year is proving to be no different as the third quarter closes out with a flood of office deals. Office investors are being forced to look for deals outside Denver’s urban core. Value-add acquisitions are mainly redevelopments driven by tenant demand for “cool” workspace and talent wars. There is no arguing Denver’s office market is maturing, but there appears to be no threats of an impending plateau or decline. The headlines this year have been dominated by large office lease transactions, including WeWork tying up 220,000 square feet at McGregor Square in LoDo. WeWork has taken a commanding stance with 2 million square feet in Denver and counting. Much of that space is dedicated to enterprise office space solutions and headquarters locations. This year has also marked the notable expansion of coworking outside of Denver’s urban core into Midtown, Cherry Creek and Southeast Denver. Occupancy levels within WeWork locations historically ebb and flow with direct vacancy rates per submarket performance. For example, WeWork at Civic Center Plaza in Upper Downtown Denver has been slow to fill with memberships and term. A WeWork desk …

October 25, 2019

Acquisitions Colorado Multifamily Western

Bascom Northwest Ventures Buys 260-Unit Apartment Complex in Denver for $90.5M

by Amy Works October 21, 2019

DENVER — Bascom Northwest Ventures has acquired 1000 South Broadway Apartments, a multifamily property located at 1000 South Broadway in Denver. An undisclosed seller sold the asset for $90.5 million, or $348,076 per unit. Built in 2015, 1000 South Broadway Apartments features 260 Class A units. Avenue 5 Residential will manage the property. Terry Daly of Cushman & Wakefield arranged a $54.5 million loan with Wells Fargo Bank for the buyer. The property was also purchased with proceeds derived from the sale of a 15-year investment in an urban infill property in Bellevue, Wash.

October 21, 2019

Acquisitions Colorado Office Western

NKF Negotiates $32.5M Sale of Occidental Petroleum Office Building in Colorado

by Amy Works October 17, 2019

PLATTEVILLE, COLO. — Newmark Knight Frank (NKF) has facilitated the sale of a two-story office building located at 501 N. Division Blvd. in Platteville, approximately 40 miles north of Denver. Platteville Energy Partners sold the asset to an undisclosed buyer for $32.5 million, or $282 per square foot. Occidental Petroleum Corp. (formerly Anadarko Petroleum Corp.) fully occupies the 114,524-square-foot building. The company uses the facility as a mission critical operations center in the Denver-Julesburg Basin. John Jugl of NKF represented the seller, Platteville Energy Partners I LLC, in the transaction.

October 17, 2019

Colorado Loans Multifamily Western

JLL Arranges $14.7M Refinancing for Tennyson Place Apartment Community in Denver

by Amy Works October 16, 2019

DENVER — JLL has secured a $14.7 million loan for the refinancing of Tennyson Place, an apartment community in Northwest Denver’s Berkeley neighborhood. The borrower is Allante Properties and Investments. Brock Yaffe and Josh Simon of JLL Capital Markets arranged the fixed-rate, balance-sheet loan for the borrower. Proceeds were used to refinance an existing loan. Located at 3885 N. Tennyson St., the property features 81 apartments in a mix of studio and one-bedroom units ranging from 365 square feet to 769 square feet. Community amenities include an indoor/outdoor community room, business center, 24-hour fitness center, sky deck, pet spa and garage parking. The property was built in 2017.

October 16, 2019

Acquisitions Colorado Office Western

Broe Real Estate Buys 41,030 SF Office Building in Colorado, Plans Medical Office Conversion

by Amy Works October 16, 2019

LITTLETON, COLO. — Broe Real Estate Group (BREG), an affiliate of Denver-based The Broe Group, has purchased an office building located on 4.7 acres at 1501 W. Mineral Ave. in Littleton. WorldVenture sold the asset, which was its former headquarters, for an undisclosed price. The property was constructed in 1999. The buyer plans to convert the two-story, 41,030-square-foot building into medical office space. This project is the BREG’s fifth transaction supporting medical office repositioning in the past 12 months, bringing nearly 600,000 square feet of medical office space to market. Jeff Wood and Monica Wiley of CBRE represented the seller in the deal.

October 16, 2019

Acquisitions Colorado Industrial Western

Pinnacle Real Estate Advisors Brokers $11M Sale of Huron Business Center Near Denver

by Amy Works October 14, 2019

NORTHGLENN, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Huron Business Center, an industrial facility in Northglenn, 15 miles north of Denver. An undisclosed seller sold the property for $11 million, or $140.69 per square foot. The name of the buyer was not released. Located at 405-475 W. 115th Ave., the asset features 78,187 square feet of industrial space. Matt Lewallen and Kevin Calame of Pinnacle Real Estate Advisors represented the seller in the deal.

October 14, 2019

Colorado Development Multifamily Student Housing Western

Landmark Properties Developing 780-Bed Student Housing Community Near Colorado State

by Amy Works October 11, 2019

FORT COLLINS, COLO. — Landmark Properties has started construction of The Standard at Fort Collins, a 780-bed community serving students and young professionals near Colorado State University in Fort Collins. The community is set for completion in fall 2020. The property will offer studio, one-, two-, three-, four- and five-bedroom units. Shared amenities will include a rooftop swimming pool, coffee bar, study lounge, private study rooms, a 24-hour fitness center, clubhouse, grilling spaces and outdoor courtyards. Katerra is serving as general contractor for the project.

October 11, 2019

Acquisitions Colorado Retail Western

CIM Group Sells University Center Retail Property in Fort Collins for $23.7M

by Amy Works October 9, 2019

FORT COLLINS, COLO. — CIM Group has completed the sale of University Center, a grocery-anchored retail property located in Fort Collins. An undisclosed buyer acquired the asset for $23.7 million. Built in 1953 and remodeled in 2004, University Center features 68,334 square feet on 6.5 acres. The property is fully leased to two tenants: a natural foods grocery chain and Wilbur’s Total Beverage. The single-story building is attached to the north end of a larger shopping center. Brad Lyons, Mike Winn and Tim Richey of CBRE represented the seller.

October 9, 2019

Newer Posts

Older Posts