DENVER — Laramie Energy Company has subleased 19,592 square feet of office space in downtown Denver. The space is located at the former offices of Pioneer Natural Resources Company in the Lower Downtown (LoDo) district. The address is 1401 17th St. Laramie Energy has outgrown its space at nearby Writer Square. CBRE’s Greg Holm represented the natural gas exploration and production company.
DENVER — A partnership between Soma Capital Partners (SCP) and CenterSquare Investment Management has purchased the LAB, a 78,639-square-foot office building in the Denver submarket of Platte Valley, for an undisclosed sum. The newly constructed building is located at 2420 17th St. WeWork Companies, an international co-working platform, has pre-leased about 65 percent of the property. It will occupy the space by year-end. CBRE serves as the leasing agent for the second floor of the office building. Urban Legend is marketing the 3,000-square-foot, ground-floor retail space to prospective food and beverage tenants. JR Bitzer of Lee & Associates Denver represented SCP in this transaction. The seller was the building’s developer, a partnership between Brue Capital and Confluent Development.
DENVER — Holliday Fenoglio Fowler (HFF) has arranged joint venture equity and financing for a recapitalization of Denver Pavilions, a 351,347-square-foot, open-air regional shopping mall located in downtown Denver. Mary Sullivan, John Jugl and Eric Tupler of HFF worked on behalf of the owner, Gart Properties, to arrange a joint venture equity partnership with MetLife Real Estate Investors, and to place a 10-year, fixed-rate loan for the partnership with Cornerstone Real Estate Advisers. The 95 percent leased center was renovated in 2010, and is home to tenants including H&M, United Artists theater, Lucky Strike Lanes, Hard Rock Café, Coyote Ugly Saloon, Barnes and Noble, Forever 21, Banana Republic and BareMinerals.
DENVER — MorningStar Senior Living plans to open four new senior communities throughout the Southwest before the end of 2015. MorningStar Assisted Living & Memory Care of Boulder will open Sept. 11 in Boulder, Colo. The $25 million community will offer 94 suites (48 for assisted living; 46 for memory care). MorningStar Assisted Living & Memory Care at Arrowhead will open Sept. 25 in Glendale, Ariz. The $18 million community will offer 85 suites (60 for assisted living; 25 for memory care). MorningStar Assisted Living & Memory Care of Fort Collins will open in early December in Fort Collins, Colo. The $18 million community will offer 79 suites (55 for assisted living; 24 for memory care). MorningStar Assisted Living & Memory Care of Albuquerque will open in December in Albuquerque, N.M. The $17 million community will offer 69 suites (48 for assisted living; 21 for memory care). Based in Denver, MorningStar Senior Living is an operator, owner and developer of senior living communities. The company has over 2,600 units currently under management or in development across 23 communities in seven states.
AURORA, COLO. — Cushman & Wakefield has arranged the $20.1 million sale of City Center Marketplace, a 234,255-square-foot shopping center located in the Denver suburb of Aurora. The center is home to tenants including 24 Hour Fitness, Office Depot, Sherwin Williams, DaVita and Family Dollar. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield represented the seller, a Colorado-based private partnership, in the transaction.
WESTMINSTER, COLO. — Orchard Town Center, a 914,000-square-foot open-air regional retail center located in Westminster, has added seven new tenants to its roster. Additions include a newly opened Bitto Bistro; a 2,673-square-foot Crushed Red to open in August; a 3,085-square-foot 20/20 EyeVenue to open in September; a 6,644-square-foot Katie Eile to open in October; and a 4,500-square-foot Rusty Bucket Restaurant and Tavern, a 23,000-square-foot Marshalls, and a 5,000-square-foot Maurices, all to open in spring 2016. Other recent openings include a 7,500-square-foot DXL and a 4,346-square-foot Panera Bread. Phoenix-based Vestar, who acquired the property in 2014 in a joint venture with UBS, oversees property management, leasing and marketing at Orchard Town Center.
DENVER — Pine Tree Commercial Realty has acquired Arvada Marketplace-Connection, a 367,510-square-foot shopping center in the Denver submarket of Arvada, for $54.9 million. The center is located at the intersection of Wadsworth Boulevard and interstates 70 and 76. Arvada Marketplace-Connection was built in 1987. A 142,491-square-foot Sam’s Club anchors the center. Other notable tenants include Sports Authority, Dollar Tree and Youfit health club. CBRE’s Brad Lyons executed the transaction. The seller was RPAI. Bank of America provided the financing.
LOUISVILLE, COLO. — The Colorado Technology Center Portfolio, which contains a total of 631,135 square feet of light industrial space, has received $59 million in financing. The seven-building portfolio was fully leased, and all are situated within the Colorado Technology Center in Louisville, northwest of Denver. Steve Bye and Conor McCahill of NorthMarq Capital’s Denver office arranged the financing with an undisclosed investment bank. The non-recourse loan structure involved a 10-year, fixed-rate term with interest-only payments for three years, followed by a 30-year amortization schedule.
DENVER — A local multifamily investor has purchased a 20-unit apartment building in Denver for $2.8 million. The community is located at 833 Dexter St. The new investor also owns a few other properties within the same neighborhood. Matt Lewallan and Kevin Calame of Pinnacle Real Estate Advisors represented the buyer.
GREENWOOD VILLAGE, COLO. – Dayton Office Park, a 90,300-square-foot office park in the Denver submarket of Greenwood Village, has sold to an unnamed buyer for $6.6 million. The three-building complex is located at 6535-6565-6595 S. Dayton Street. The buildings were constructed between 1983 and 1985. The local seller was represented by Brandon Gouker of Pinnacle Real Estate Advisors.
