DENVER — MVG Development and Confluent Development Services have merged to create a single private commercial development firm in Colorado. It will operate as Confluent Development. The new firm has about $500 million in ongoing industrial, office, retail, multifamily and seniors housing developments across the U.S. Burton will lead Confluent Development’s expanded team, which is currently composed of 25 real estate and construction professionals. John Shaw was also recently awarded a seat on the firm’s Board of Directors. MVG is a full-service real estate development firm specializing in retail and seniors housing projects.
DENVER – A multi-tenant medical office building that houses the HealthONE Rose Surgery Center and Cherry Creek Eye Center has sold to Jaman Solutions LLC for an undisclosed sum. The 19,026-square-foot center is located at 4999 East Kentucky Ave. in the Glendale submarket. Jaman was represented by Eric Schierburg of Marcus & Millichap. The seller, CCEC LLC, was represented by Brian C. Smith of the same firm.
DENVER — The ConAm Group has acquired the 296-unit PeakView Place apartments in Denver for an undisclosed sum. The community is located at 9959 E Peakview Ave. in the Englewood submarket. PeakView is situated near Denver’s largest employment center, the 850-acre Denver Technological Center (DTC). ConAm plans to carry out a $5.5-million renovation on the property. This will include construction of a new leasing office, new exterior siding, full interior upgrades, and overall enhancements to the common areas and landscaping. Common-area amenities include a pool and spa, as well as a fitness center. Units include modern floorplans, washers and dryers, central heat/air conditioning and fireplaces.
ARVADA, COLO. – A 20-unit apartment complex in the Denver submarket of Arvada has sold to an unnamed buyer for $2 million. The community is located at 5379 Estes Street. It was built in 1960. The property is situated near Olde Town Arvada and the Light Rail. Jeff Johnson with the Johnson Ritter Team at Pinnacle Real Estate Advisors assisted both the buyer and seller in this transaction.
DENVER — 29th Street Capital (29SC) has purchased the 110-unit Asbury Plaza Apartments in Denver for an undisclosed sum. The community is located at 5170 E. Asbury Ave. Asbury Plaza is situated east of Interstate 25. It is within walking distance of a pedestrian bridge that will lead to the RTD Colorado light rail station. The bridge will be completed later this year. 29SC plans to invest about $850,000 – or $7,700 per unit – in property improvements. It will upgrade the roof, windows, landscaping, corridors, and resident amenities, including the BBQ area and rooftop deck. The firm will also install new appliances, countertops, fixtures, lighting and flooring. Exterior work will be completed within six months, while interior work will be conducted as tenants vacate. This is 29SC’s eighth acquisition in the past eight months. The seller was a private ownership group.
DENVER – The 42-unit Emerson Lofts has sold to an unnamed buyer for $11.5 million. The community is located at 777 Emerson Street. It was built in 2013. Notable area employers include Colorado State University, Denver Health, Denver Water and the Denver Police Department. The sale was executed by John Laratta and Frank Farrell of Berkadia.
AURORA, COLO. – The 38,970-square-foot Hancock Park Office Building in Aurora has sold to an unnamed buyer for $2.6 million. The building is located at 15200 East Girard Ave. The seller was represented by Rob Edwards and Tom Ethington of Pinnacle Real Estate Advisors.
ENGLEWOOD, COLO. – EN Engineering has expanded its footprint in Englewood. The pipelines, utilities and industrial industries consultant will increase its office space from 4,117 square feet to 10,436 square feet. The space is located at 9777 Pyramid Court. The building was constructed in 1995. EN Engineering was represented by Zach Williams of Cushman & Wakefield. Westcore Properties was represented by Keith Krombach and Nathan Johnson.
DENVER — Invesco Real Estate has acquired a 306,791-square-foot office building in Denver’s Lower Downtown (LoDo) neighborhood for a reported $170 million. The building is located at 1515 Wynkoop Street. The Class AA asset is fully leased to notable tenants like Maximus, Black Hills Corporation and Polsinelli. It sits adjacent to Union Station, which recently underwent a redevelopment. The building has received LEED-Gold certification. It also received the Most Efficient Building in Denver award in 2013. The seller was American Realty Advisors.
DENVER – A 32,900-square-foot manufacturing facility in Denver has sold to 1425 Market LLC for $3.2 million. The facility is located at 2800 Walnut Street. The seller, Gold Star Sausage, had used the facilities to manufacture its sausages and hot dogs. It plans to keep its headquarters in Denver. The buyer intends to renovate the USDA certified food processing facility. Gold Star Sausage was represented by NGKF’s Russell Gruber and Pete Staab.