Colorado

Plexus Leases 26,500 SF of Office Space at Business Park Near Denver

by Nellie Day February 20, 2018

LOUISVILLE, COLO. — Plexus has leased 26,500 square feet at Centennial Valley Business Park in Louisville. The two-story, 58,300-square-foot spec office building is located at 168 Centennial Parkway just north of Denver. The building features flexible floorplans, access to multiple fiber optic providers, landscaped grounds and an office campus setting. It is situated just off U.S. Highway 36 in Centennial Valley Business Park, within walking distance to McCaslin Boulevard’s numerous dining and shopping options. The global engineering/manufacturing firm is expanding from its current Louisville location. It will occupy the new space this May. CBRE’s Lee Diamond represented Plexus. The firm’s Frank Kelley, Erik Abrahamson and Joe Faller represented the landlord, Koelbel, in this transaction.

February 20, 2018

Colorado Retail Western

Chipotle Names Taco Bell CEO as its Next Chief Executive

by Nellie Day February 19, 2018

DENVER — Chipotle Mexican Grill’s board of directors has appointed Brian Niccol as CEO and a member of the board, effective March 5, 2018. Niccol most recently served as CEO of Yum! Brands’ Taco Bell division. Prior to joining Chipotle, Niccol was at Taco Bell from 2011 and served as CEO from January 2015 and president from 2013 to 2014. Under his leadership, he repositioned Taco Bell as a lifestyle brand and launched numerous product initiatives, including the new breakfast daypart. He transformed Taco Bell into a social media leader and revolutionized its digital approach through mobile ordering and payment across its 7,000 restaurants. Prior to Taco Bell, Niccol held leadership roles at Pizza Hut, including vice president of strategy, chief marketing officer and general manager. Chipotle opened with a single restaurant in Denver in 1993 and now operates more than 2,400 restaurants. As a result of the move, Julie Felss Masino, president of Irvine, Calif.-headquartered Taco Bell North America, and Liz Williams, president of Taco Bell International, will assume leadership of the Taco Bell division in their respective roles, reporting to Yum! Brands CEO Greg Creed. Masino joined Taco Bell in January 2018 from Mattel and, prior to that, …

February 19, 2018

Colorado Office Western

Cress Capital, Revesco Properties Buy 120,873 SF Office Building in Colorado

by Nellie Day February 13, 2018

GREENWOOD VILLAGE, COLO. — A joint venture between Cress Capital and Revesco Properties has purchased a Orchard Pointe, a 120,873-square-foot office building in Greenwood Village, for an undisclosed sum. The building is situated within the Denver Technology Center. Orchard Pointe was originally built in the 1980s. The JV plans to implement improvements, including cosmetic enhancements to the lobby, elevators and corridors, as well as improvements to building amenities. The seller is TA Realty. Revesco will provide property management services through its subsidiary, Revesco Property Services.

February 13, 2018

Colorado Industrial Western

Lincoln Property Co. Buys 101,000 SF Industrial Building in Colorado for $13.5M

by Nellie Day February 8, 2018

ENGLEWOOD, COLO. — Lincoln Property Co. has acquired Highfield Building 5, a 101,000-square-foot industrial building in Englewood, for $13.5 million. The building is located at 14150 Grasslands Drive within the Highfield Business Park. The Class A industrial distribution facility is fully leased to two tenants, Charter Communications and Gateway Classic Cars. Building 5 was initially launched as a speculative project but reached full occupancy within 12 months of breaking ground. CBRE’s Jim Bolt, Tyler Carner and Jeremy Ballenger represented the seller, a partnership between Confluent Development and Bradbury Properties, in this transaction.

February 8, 2018

Colorado Office Western

M & J Wilkow, DRA Advisors Buy 238,302 SF Office Tower in Glendale, Colorado

by Nellie Day February 6, 2018

GLENDALE, COLO. — A joint venture between M & J Wilkow and a fund managed by DRA Advisors LLC has acquired Cherry Creek Corporate Center, a 238,302-square-foot office tower in Glendale, for an undisclosed sum. The 12-story tower is located at 4500 Cherry Creek Drive South. Cherry Creek Corporate Center was built in 1978 southeast of Denver. It recently underwent a $15 million renovation. Amenities include a newly renovated lobby and updated common areas, as well as a fitness center. The property is 85 percent occupied. M & J Wilkow Properties will manage the asset and carry out additional building improvements and amenity enhancements.

February 6, 2018

Colorado Multifamily Western

Fitzsimons Junction Apartments in Colorado Sells for $13.2M

by Nellie Day February 6, 2018

AURORA, COLO. — A local private investor has acquired the 126-unit Fitzsimons Junction apartment complex in Aurora for $13.2 million. The community is located at 14155 Montview Blvd. It was built in 1974. Fitzsimons Junction is made up of one-, two- and three-bedroom units, all with decks or patios. Amenities include numerous laundry rooms, covered parking and an outdoor swimming pool. Greg Price and Jason Hornik of Marcus & Millichap represented both the buyer and seller, another private investor, in this transaction.

February 6, 2018

Colorado Office Western

Northstar Commercial Partners Buys 52,000 SF Office Property in Denver for $17.1M

by Nellie Day February 5, 2018

DENVER — Northstar Commercial Partners has purchased Offices at the Art, a 52,000-square-foot office property in Denver, for $17.1 million. The Class AA asset is situated along Broadway. Offices at the Art was built in 2015. It enjoys access to Broadway, Speer Boulevard, Interstate 25, Cherry Creek, Capitol Hill and downtown Denver.

February 5, 2018

Colorado Multifamily Seniors Housing Western

Greystone Brokers $31.3M Sale of 188-Unit Affordable Community in Denver

by Nellie Day January 22, 2018

DENVER — Greystone’s Real Estate Advisors group has arranged the sale of Juanita Nolasco Apartments, a 188-unit affordable seniors housing community in Denver. Jonathan Rose Cos. acquired the property from a limited liability company for $31.3 million. Greystone’s Aaron Hargrove and Eric Taylor represented the seller. The 13-story Juanita Nolasco Apartments was built in 1972 and rehabilitated in 2008 via 4 percent Low Income Housing Tax Credits.

January 22, 2018

Colorado Multifamily Seniors Housing Western

Heavenrich & Co. Arranges $8.4M Sale of 40-Unit Memory Care Community in Colorado

by Nellie Day January 19, 2018

LOVELAND, COLO. — Heavenrich & Co. has arranged the sale of Aspen House, a memory care community consisting of two adjacent properties in Loveland, approximately 50 miles north of Denver. The properties were built in 2010 and 2015 and feature 40 units representing 80 licensed beds. Madison Realty Cos. acquired the community from an undisclosed seller for $8.4 million. Brian Clark, senior director at Heavenrich & Co.’s Denver office, managed the transaction.

January 19, 2018

Colorado Multifamily Western

Inland Real Estate Buys 267-Unit Apartment Complex in Lakewood, Colorado

by Nellie Day January 18, 2018

LAKEWOOD, COLO. — Inland Real Estate Acquisitions has purchased the 267-unit Union West Apartments in Lakewood for a reported $81 million. The community is located at 35 Van Gordon St., six blocks from the RTD West Light Rail Line. The mid-rise property contains 20 studios, 141 one-bedroom, 90 two-bedroom and 16 three-bedroom units. Union West also offers a garage with 402 covered parking spaces and 18 open spaces. Units include gourmet kitchens, quartz countertops, stainless steel appliances, walk-in closets, a washer and dryer, a garden bathtub and a patio or balcony. Union West Apartments is also equipped with energy-efficient air conditioning, heating, water heaters and windows. All lighting throughout the property is LED and the garage and corridors are powered by solar panels on the roof. Community amenities include a resort-style heated pool, fitness and yoga studio, fire pit, grilling stations, pet-friendly park and mountain views.

January 18, 2018

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