DENVER — Stonebridge Cos. is developing a dual-branded Hilton property located at 801 15th St. in downtown Denver. The Denver-based company is serving as the owner, developer and operator for the 22-story project, which will feature 382 hotel rooms and suites. Within walking distance of the Colorado Convention Center, the 176-room Tru by Hilton Denver Downtown Convention Center and 206-suite Home2 Suites by Hilton property is slated to open in late 2019. Tru by Hilton will feature in-room entertainment; an open lobby with areas for guests to work, play games, eat and lounge; free Wi-Fi; and a 24/7 Eat & Sip market. The pet-friendly Home2 Suites will feature fully equipped kitchens and modular furniture in guest suites, complimentary internet, communal spaces, Spin2 Cycle, guest laundry, oversized fitness area and Home2 MKT for grab-and-go items. The development will also have a variety of shared amenities, including a fitness center, conference room, restaurant, bar, valet parking and a five-story, 74,500-square-foot parking garage with 153 stalls.
AURORA, COLO. — Unique Properties has negotiated the sale of The Forum, an office building located in Aurora. An undisclosed buyer acquired the property for $14.2 million, or $82.04 per square foot. Located at 14001 E. Illiff Ave., the property features 174,622 square feet of office space. At the time of sale, the building was 76 percent occupied. The Lippitt/Shwayder Team of Unique Properties represented the undisclosed seller, while Newmark Knight Frank represented the buyer in the deal.
SEATTLE AND DENVER — Real estate investment and operating firm Unico Investment Group LLC has sold 11 office assets totaling 1.8 million square feet in Seattle and Denver for $710 million. Broad Street Principal Investments LLC, an affiliate of Goldman Sachs, was the buyer. The portfolio includes 10 creative office assets and one parking garage. The collection of properties is 85 percent leased to more than 190 tenants. Since 2014, Unico has invested $87 million in capital improvements for the properties. Some of the fully repositioned assets include the iconic Smith Tower in Seattle’s Pioneer Square, 1505 Fifth Ave. in Seattle’s central business district (CBD) and the DC Building in Denver’s CBD. The 27-building portfolio also includes new-construction buildings such as the Circa Building, which is located along Denver’s Platte Street. The Class A asset received the Mayor’s Design Award for Sustainability in 2018. Unico will retain a stake in the portfolio and will continue to operate and manage the properties on behalf of the new partnership. “We look forward to working with Goldman Sachs to fully complete the property repositions and new development opportunities still embedded within the portfolio,” says Jonas Sylvester, Unico president. Jason Flynn and Paul Nelson …
LONGMONT, COLO. — HFF has arranged the sale of Harvest Junction, a 367,918-square-foot shopping center in Longmont. The center is located 38 miles north of Denver and is split by Ken Pratt Boulevard, separating the property into north and south sections. Harvest Junction was fully leased at the time of the sale to tenants including Lowe’s, Dick’s Sporting Goods, Ulta Beauty, DSW, Marshalls, Ross Dress for Less and Best Buy. Chad Murray, Aaron Johnson and Barry Brown of HFF represented the seller, RPT Realty, in the transaction. A partnership between Walton Street Capital LLC and Alberta Development Partners acquired the center for an undisclosed amount.
CRAIG, COLO. — Marcus & Millichap has brokered the purchase of Golden Arms Apartments, an apartment building located in Craig. A private investor acquired the property for $2.5 million. Jason Hornik of Marcus & Millichap represented the buyer in the transaction. Built in 1979, the 55,960-square-foot building features 40 two-bedroom/one-bath units and 24 three-bedroom/one-bath units. Additionally, the property features a variety of upgrades including new exterior paint, landscaping, a resurfaced parking lot, a new storage shed, guttering and fencing, laundry room broiler and updated laundry room equipment.
DENVER — Scott Development Group has completed the sale of an industrial facility located on a 4.5-acre site at 10777 E. 45th Ave. in Denver’s Montebello submarket. 3939 Williams Building Corp. acquired the property for $6 million. The property features 57,000 square feet of manufacturing and distribution space. Nick Schill of Pinnacle Real Estate Advisors represented the seller in the transaction.
COLORADO SPRINGS, COLO. — Newmark Knight Frank (NKF) has arranged the acquisition of an office property located in Colorado Springs. GOG Properties LLC purchased the property from 1555 GOG LLC for $4.7 million. Located at 1555 Garden of the Gods Road, the property features 39,597 square feet of office space. Simon Penner of NKF represented the buyer, while NAI Highland represented the seller in the deal.
LONE TREE, COLO. — Legend Investment Group, a division of Legend Partners, has arranged the purchase of Bridge Center, a mixed-use retail and office property located at 9233 Park Meadow Drive in Lone Tree. A local real estate investment group acquired the property for $6.1 million, or $215 per square foot. At the time of sale, the 28,325-square-foot property was 98 percent occupied by a variety of tenants, including Panera Bread, Office Evolution and RE/MAX. The property was built in 1999 and renovated in 2003. The name of the seller was not released.
DENVER — Pinnacle Real Estate Advisors has arranged the sale of an apartment building and duplex located at 2818-2836 Wyandot St. in Denver. An undisclosed seller sold the asset for $3.7 million. The 23-unit apartment building was built in 1962, while the duplex was built in 1886. Josh Newell and Barton Thompson of Pinnacle Real Estate Advisors represented the seller in the deal. The name of the buyer was not released.
DENVER — Newmark Knight Frank has arranged the sale of Infinity LoHi, a mid-rise multifamily community located in the Lower Highlands (LoHi) neighborhood of Denver. Greenwich, Conn.-based The Richman Group sold the property to an undisclosed advisor for $112 million, or $409,340 per unit. Terrance Hunt and Shane Ozment of Newmark Knight Frank represented the seller in the deal. Completed in 2018, Infinity LoHi features 273 units with spacious floor plans equipped with high-quality finishes, stainless steel appliances, washers/dryers, nine-foot ceilings, closets and select units have private balconies. On-site amenities include a fitness center, 24-hour clubhouse and resort-style pool.