Colorado

Bascom Group, Oaktree Capital Purchase Axis at Nine Mile Station Apartments in Denver for $50M

by Nellie Day November 5, 2015

DENVER — A joint venture between the Bascom Group and funds managed by Oaktree Capital Management have purchased the 336-unit Axis at Nine Mile Station for $50 million. The community is located at 3257 S. Park Road. The property was built in 1980. It is situated adjacent to the Blue Line Light Rail, which will provide access to the Denver Tech Center Business Corridor, downtown Denver and Denver International Airport once it opens next spring. CBRE’s Brian Eisendrath and Annie Rice sourced the debt financing, which was provided by Mesa West Capital. Terrance Hunt and Jeff Hawks of ARA Newmark represented the seller.

November 5, 2015

Colorado Office Western

CH2M Renews Lease for Headquarters Space in Englewood

by Nellie Day November 3, 2015

ENGLEWOOD, COLO. — CH2M has renewed its lease for a 370,485-square-foot office facility in the Denver submarket of Englewood. The space is located at 9191 S. Jamaica Street. The global engineering and project delivery company has leased the three-building property since 2007. This represented the largest office lease in Denver so far this year, according to Savills Studley, which represented CH2M. Monty Harris and Rob Link worked on behalf of the firm. The landlord, Columbia Property Trust, was represented by Jamie Gard and Jeff Castleton of Newmark Grubb Knight Frank.

November 3, 2015

Colorado Multifamily Western

Cascade Village Apartments in Westminster Changes Hands

by Nellie Day November 3, 2015

WESTMINSTER, COLO. — The 444-unit Cascade Village apartment complex in Westminster has sold to a joint venture between Phoenix Realty Group and Real Estate Corporation for an undisclosed sum. The community is located at 6880 W. 91st Court. Cascade Village is situated just half a mile from the 105-acre Westminster Mall master-plan redevelopment that will add 1 million square feet of commercial office space to the area, along with 1.1 million square feet of retail and entertainment venues, and high-density multifamily and residential properties. The unnamed seller was represented by Shane Ozment, Terrance Hunt, Doug Andrews and Jeff Hawks of ARA Newmark.

November 3, 2015

Colorado Retail Western

Pinnacle Arranges Sale of Kneaders Bakery and Café in Colorado for $2.6M

by Nellie Day November 3, 2015

HIGHLANDS RANCH, COLO. — Pinnacle Real Estate Advisors LLC has arranged the $2.6 million sale of a newly constructed 3,798-square-foot Kneaders Bakery and Café in Highlands Ranch. Tom Ethington and Rob Edwards of Pinnacle represented the seller in the transaction.

November 3, 2015

California Colorado Retail Western

Vitality Bowls to Open Three New Locations

by Nellie Day October 26, 2015

SAN RAMON, CALIF. — San Ramon-based Vitality Bowls, a superfood café, is set to open three new locations in Colorado and California. New restaurants include a 1,400-square-foot location at Cherry Creek Shopping Center in Denver, Colo.; a 1,100-square-foot location at 19700 Vallco Parkway in Cupertino, Calif.; and a 796-square-foot location at 20668 Rustic Dr. in Castro Valley, Calif. These openings come as part of a plan to open 100 locations by the end of 2016.

October 26, 2015

Colorado Hospitality Western

Urban Commons Buys Renaissance Hotel in Denver for $44M

by Nellie Day October 22, 2015

DENVER — Urban Commons has purchased the 400-room Renaissance Hotel in Denver for a reported $44 million. The hotel is located at 3801 Quebec St. in the Stapleton neighborhood. The hotel includes 11 suites and about 30,000 square feet of meeting and function space, including the 11,700-square-foot Colorado Ballroom. The Renaissance is situated near the expanding Enterprise Business Park. It will also be in close proximity to the FasTrack East Corridor light rail line that should debut in 2016. James Escarzega, Steve Michels and Stephanie Tsai of Cushman & Wakefield’s Global Hospitality Group represented the seller, Trifecta Hotel D Owner LLC.

October 22, 2015

Colorado Multifamily Seniors Housing Western

Lancaster Pollard Hires Rob McAdams to Open Office in Denver

by Nellie Day October 21, 2015

DENVER — Rob McAdams has joined Lancaster Pollard and will open a new office for the firm in Denver. McAdams will serve the lender’s clients in Colorado, Wyoming, Montana and Idaho and will oversee the structuring and funding of healthcare project financings for hospitals and senior living providers in those states. McAdams has been involved in investment sales and debt and equity structuring for the hotel and hospitality industry since 2005 and most recently served as a partner at U.S. Hotel Advisors in Denver. In that role, he oversaw all areas of hotel debt and equity financing transactions, including new business generation, negotiation of financing terms, selection of capital providers and orchestration of closing processes. He earned master’s degrees in finance, as well as real estate and construction management, from the University of Denver, Daniels College of Business. He received a bachelor’s degree in communications from the University of Colorado.

October 21, 2015

Colorado Industrial Western

American Tire Distributors Leases 127,000 SF at Crossroads Commerce Park in Denver

by Nellie Day October 19, 2015

DENVER — American Tire Distributors (ATD) has leased a 127,000-square-foot building at Crossroads Commerce Park in Denver. The park is located at the southwest corner of 55th Avenue and Washington Street in Unincorporated Adams County. ATD is the first full-building tenant at Crossroads. The company is one of the largest independent suppliers of replacement tires in North America. Crossroads Commerce Park is a modern, master-planned development of nearly 1 million square feet of Class A industrial space in multiple buildings. Josh Allred of Jackson Cooksey represented ATD. Mike Wafer and Tim D’Angelo of Newmark Grubb Knight Frank represented the landlord, Trammell Crow Company.

October 19, 2015

Colorado Multifamily Western

Denver Apartment Building Sells for $2.1M

by Nellie Day October 15, 2015

DENVER — An unnamed buyer has purchased an 18-unit apartment building in Denver for $2.1 million. The community is located at 1560-1570 Albion St. It was built in 1958. Joe Hornstein and Scott Fetter of Pinnacle Real Estate Advisors represented both the buyer and the seller in this transaction.

October 15, 2015

Colorado Retail Western

Armstrong Development Completes Construction on Nextcare Building at HighPointe Park in Thornton

by Nellie Day October 14, 2015

THORNTON, COLO. — Armstrong Development has completed construction on a new 4,500-square-foot building at HighPointe Park in Thornton. Nextcare Urgent Care now occupies the freestanding structure. Construction commenced on the pad this past April and was completed in late September. The urgent care officially opened Tuesday, Oct. 13.

October 14, 2015

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