Colorado

MorningStar, Confluent Break Ground on 141-Unit Seniors Housing Community Near Denver

by Nellie Day July 18, 2016

ARVADA, COLO. — Co-developers MorningStar Senior Living and Confluent Development have broken ground on MorningStar Senior Living of Arvada, a 141-unit independent living, assisted living and memory care community in the Denver suburb of Arvada. The developers expect to complete construction in fall 2017, with an information center opened by January of that year. The 160,000-square-foot development will feature 71 suites for independent living, 41 suites for assisted living and 29 suites for memory care. The community will be situated on 4.5 acres, encircled by six parks and Arvada Reservoir. Suites will range from studio to two-bedroom layouts, and 340 to 1,200 square feet. MorningStar of Arvada is the sixth joint venture between affiliates of MorningStar Senior Living, a Denver-based senior living developer and operator, and Confluent Development, a Denver-based development and investment firm. It will be MorningStar’s 16th ground-up seniors housing development. Rosemann & Associates of Denver is serving as the architect for the new development, and Thoma-Holec Design of Phoenix is the interior designer.

July 18, 2016

Colorado Multifamily Seniors Housing Western

Rocky Mountain Senior Housing Taps OZ Architecture to Design 111-Unit Assisted Living Community in Colorado

by Nellie Day July 13, 2016

GOLDEN, COLO. — Rocky Mountain Senior Living has hired OZ Architecture to design Golden Lodge Assisted Living, a 111-unit assisted living and memory care community in the Denver suburb of Golden. The community will feature two buildings – a 65,000-square-foot, four-story assisted living community with 75 units, and a 24,000-square-foot, single-story memory care community with 36 units. Colorado-based Vivage Senior Living will operate the community once it is completed. Construction is scheduled to begin in the fourth quarter of 2016 for completion in the fall of 2017. OZ Architecture is a Colorado-based design firm.

July 13, 2016

Colorado Multifamily Seniors Housing Western

Grace Healthcare Exits Western Markets with $15.3M Sale of Three Colorado Skilled Nursing Facilities

by Nellie Day July 6, 2016

PAONIA, GLENWOOD SPRINGS AND ROCKY FORD, COLO. — Seniors housing owner/operator Grace Healthcare has officially exited all Western U.S. states with the $15.3 million sale of its final three skilled nursing communities in Colorado. Evans Senior Investments negotiated the sale to an undisclosed California-based investor. The price equates to $67,700 per bed. The new owners will lease the properties to a new operator that already has a presence in Colorado. The three properties are Paonia Care and Rehab Center in Paonia, Grace Healthcare & Rehab in Glenwood Springs and Pioneer Health Care Center in Rocky Ford. Located on the Western Slope in Colorado, Paonia Care and Rehab Center is approximately 70 miles from the city of Grand Junction. The facility features 60 beds in a 16,424-square-foot, single-story building. Located 80 miles southwest of Aspen, Grace Health & Rehab is located on 1.5 acres and features 54 skilled nursing beds and 16 assisted living beds. Pioneer Health Care Center features 94 beds on 4.1 acres. The 36,842-square-foot community offers memory care and rehabilitative care. In June, Grace announced it had sold all its remaining California and Arizona properties in a $14.7 million deal, also negotiated by Evans Senior Investments.

July 6, 2016

Colorado Multifamily Seniors Housing Western

Bethesda Senior Living Breaks Ground on $13M Seniors Housing Community in Colorado

by Nellie Day June 28, 2016

MONUMENT, COLO. — Bethesda Senior Living Communities, a Colorado Springs-based nonprofit developer and operator, has broken ground on Bethesda Gardens Monument, a 60-unit assisted living and memory care community in the Colorado Springs suburb of Monument. The $13 million development is the first ground-up construction for Bethesda in more than 15 years, and will be the first seniors housing community in Monument, according to the developer. Bethesda expects to complete construction in fall 2017. The architect on the Colorado project is Lantz-Boggio Architects of Denver. Brinkman Construction of Fort Collins will provide construction services, and Compass Bank of Denver provided financing. With the two new projects, Bethesda now operates 18 seniors housing communities in Arizona, Indiana, Nebraska, Missouri, Colorado and Texas.

June 28, 2016

Colorado Retail Western

CVS Pharmacy Opens First Locations in Colorado Target Stores

by Nellie Day June 28, 2016

DENVER — CVS Health has opened the first CVS Pharmacy locations in Target stores in Colorado. The pharmacies are located in several metropolitan areas, including Denver, Colorado Springs and Fort Collins, and are operated through a store-within-a-store format. With the addition of 39 rebranded CVS Pharmacy locations in Target stores, the company now has its first presence in the state.

June 28, 2016

Colorado Office Western

LLC Buys LSI Logic Building in Fort Collins for $5.6M, Plans Conversion to Office Space

by Nellie Day June 27, 2016

FORT COLLINS, COLO. — 2001 Danfield LLC has purchased the LSI Logic building, a 158,000-square-foot office building in Fort Collins, for $5.6 million. The building is located at 2001 Danfield Court. It previously served as a computer chip manufacturing facility for LSI Logic. The LLC plans to convert the space into a multi-tenant office building. CBRE’s Peter Kast and Ham Southworth represented the seller, LSI Corp., in this transaction.

June 27, 2016

Colorado Industrial Western

Industrial Building in Colorado Springs Sells for $28.8M

by Nellie Day June 23, 2016

COLORADO SPRINGS, COLO. — Monmouth Real Estate Investment Corp. has purchased a 225,362-square-foot industrial building in Colorado Springs for $28.8 million. The community is located at 125 N. Troy Hill Road. The space is net leased to FedEx Ground Packaging System for 10 years. The building is situated on 27.4 acres, directly across from the Colorado Springs Airport.

June 23, 2016

Colorado Retail Western

Pinnacle Arranges $4.1M Sale of 14,738 SF Retail Property in Metro Denver

by Nellie Day June 22, 2016

ARVADA, COLO. — Pinnacle Real Estate Advisors LLC has arranged the $4.1 million sale of Indiana Marketplace, a 14,738-square-foot shopping center located in the Denver suburb of Arvada. The property is located at 14805-14807 W. 64th Ave. Jeff Johnson and Matt Ritter of Pinnacle represented the undisclosed 1031 exchange buyer in the transaction.

June 22, 2016

Colorado Office Western

Office/Flex Portfolio in Denver Sells for $78.5M

by Nellie Day June 17, 2016

DENVER — A partnership between Investcorp and Griffin Partners has purchased a 10-building office/flex portfolio in Denver for $78.5 million. The portfolio includes 345 Inverness Drive S. and Arapahoe Business Park, comprising a total of 484,737 square feet. The Inverness property is a three-building, 175,287-square-foot complex that was built in 2001. Arapahoe Business Park is a seven-building complex that was completed in two phases from 1998 to 2001. The park contains a total of 309,450 rentable square feet and is situated at the entrance to Centennial Airport Center. Both projects sit east of Interstate 25. The assets are 95 percent leased to 15 tenants. The tenant roster is composed of companies within the technological, research and development, laboratory testing, light manufacturing, distribution and automotive fields. NGKF’s Dave Tilton, David Lee and Jason Addlesperger represented the seller, Hines REIT, in this transaction. The NGKF team was retained to lease and manage the portfolio.

June 17, 2016

Colorado Industrial Western

Monmouth Real Estate Acquires Colorado Springs Industrial Building for $28.8M

by Nellie Day June 15, 2016

COLORADO SPRINGS, COLO. — Monmouth Real Estate Investment Corp. has purchased a 225,362-square-foot industrial building in Colorado Springs for $28.8 million. The facility is located at 125 N. Troy Hill Road. It is net leased to FedEx Ground Packaging System for the next 10 years. The property is situated directly across from the Colorado Springs Airport and is in close proximity to Interstate 25.

June 15, 2016

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