AURORA, COLO. — Majestic Realty Co. has broken ground on a 701,900-square-foot speculative warehouse/distribution facility in Aurora. Nicknamed the “Big Bomber,” the building will be the state’s largest facility of its kind once it’s completed in early 2018. The building is being constructed on 36 acres at the 1,500-acre Majestic Commercenter, situated at the intersection of I-70 and Tower Road. It will feature 36-foot ceiling clearance, 146 dock doors, 198 trailer parking spaces and 426 car spaces. Designed for larger users, the facility will be divisible for multiple tenants who require as little as 150,000 square feet. Majestic has been Aurora’s largest industrial developer over the past two decades.
FORT COLLINS, COLO. — As part of its nationwide expansion, Massage Heights has signed three franchise agreements during the first half of 2017. The therapeutic massage and facial services provider will to expand the brand to the Los Angeles submarket of Woodland Hills, in addition to Houston and Boerne, Texas. Massage Heights also opened six new locations this year, including one in Fort Collins, Colo. The brand is on track to open 10 locations in 2017, with a goal of having 300 locations open by the end of 2020. Massage Heights is a family-owned, membership-based therapeutic services franchise company that provides massage and facial services.
COLORADO SPRINGS,COLO. — Rivendell Global Real Estate has acquired the 194-unit Commons at Briargate in Colorado Springs for $44.5 million. The community is located at 2845 Freewood Point. Commons at Briargate was built in 1996. The property was 96 percent occupied at the time of sale. It is situated adjacent to the 2 million-square-foot Briargate Business Campus, which houses tenants like USAA, Kaiser Permanente and T.Rowe Price. Kevin McKenna and Saul Levy of ARA Newmark represented Rivendell. The seller was a partnership between Lyon Living and Barings Real Estate Advisers.
DENVER — Northstar Commercial Partners has completed Balfour at Stapleton, a 74-unit assisted living and memory care community in Denver’s Stapleton neighborhood. A grand opening will be held in September for the 63,000-square-foot community. Northstar partnered with Balfour Senior Care, a Colorado-based operator, for the project. Northstar and Balfour are currently developing another community, a $51 million, 151-unit project in Ann Arbor, Mich. Construction is expected to begin this year. Northstar Commercial Partners is a privately held commercial real estate investment company headquartered in Denver.
COLORADO SPRINGS, COLO. — Vintage Cos. has received an $8.8 million refinancing for Rampart Village Center, a five-building retail center totaling 96,296 square feet in Colorado Springs. Leon McBroom of HFF worked on behalf of the borrower to place the 10-year, fixed-rate loan with a CMBS lender. Gold’s Gym anchors the 93.2 percent leased center.
BROOMFIELD, COLO. — Love Funding has closed a $5.2 million refinancing for Town Centre Senior Apartments, an affordable seniors housing community in the Denver suburb of Broomfield. Town Centre Senior Apartments consists of 88 affordable one-bedroom and two-bedroom units restricted to individuals aged 55 and older. The units are housed within one three-story building originally constructed in 2001 with the assistance of low-income housing tax credits. The property sits between Boulder and Denver, in the foothills of the Rocky Mountains. Love Funding’s Jonathan Camps secured the financing through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. The non-recourse financing will pay off two existing loans. Part of the proceeds will be used to complete repairs and fund a reserve account.
JOHNSTOWN, COLO. — A 166,000-square-foot industrial facility in Johnstown has sold to a new user for an undisclosed sum. The Class A facility is located at 3600 Ronald Reagan Blvd., just outside Loveland. The asset was custom built in 2012 for manufacturing. It features modern finishes, including a 45-foot ceiling clear height. The existing tenant’s eight-year lease was bought out prior to closing. CBRE’s Andrew Sandquist, JC Asensio and Briggs Goldberg represented the seller, Broadstone Net Lease, in this transaction.
DENVER — Jackson Square Properties has acquired the 328-unit Gateway Park Apartments in Denver for $75.2 million. The community is located at 4255 Kittredge St., near Interstate 70 and Pena Boulevard in northeast Denver. Community amenities include two swimming pools with sundecks and all-season spas; outdoor dining area with gas grills; private lake with fishing and beach; walking and jogging path along the adjacent nature preserve; state-of-the-art fitness center, clubhouse with fireplace and kitchenette; business center; and community recycling program. The property was 98 percent leased at closing. HFF’s Jordan Robbins, Jeff Haag and Anna Stevens represented the seller, a joint venture between Griffis Residential and PCCP, in this transaction.
FORT COLLINS, COLO. — Otter Products, the company behind OtterBox phone cases, will soon open Otter Shop, a retail store in its hometown of Fort Collins. The first OtterBox was created in a Fort Collins garage in the mid-1990s. This first and only standalone retail location allows the company to showcase its line of products, beyond phone cases. In addition to OtterBox cases, mobile accessories, coolers and tumblers, the store will feature products from sister brand LifeProof, including the recently released AQUAPHONICS line of Bluetooth speakers. Visitors will also be able to print custom cases with their own images or select from dozens of patterns. Otter Shop will be located at 151 W. Mountain Ave. in downtown Fort Collins.
DENVER — A fund advised by CBRE Global Investors has acquired Viridian at the Gardens on Havana near Denver for an undisclosed sum. The 227-unit garden-style community is located at 10901 E. Garden Drive in Aurora. Viridian is two miles from a light rail station that is scheduled to open later this year. It sits adjacent to the 500,000-square-foot Gardens on Havana Shopping Center. The Class A community is nearly 95 percent occupied. ARA represented the seller.