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.
THORNTON, COLO. – Lambertson Lakes Shopping Center, a 13,465-square-foot retail center in the Denver submarket of Thornton, has received $2.1 million in financing. Phase I of the center is located at 871-887 Thornton Parkway. The property is shadow anchored by a 55,000-square-foot Safeway grocery store that was not part of the transaction. The permanent, 10-year, CMBS loan allowed the borrower to obtain a 30-year amortization on a non-recourse basis. The refinance was arranged by Steve Bye and Brian Fisher of NorthMarq Capital’s Denver office.
DENVER — Granite Properties has purchased High Pointe Tower, a 119,834-square-foot office property in the southeastern Denver suburb of Greenwood Village for an undisclosed sum. The property is located at 6430 South Fiddler’s Green Circle. High Pointe Tower was built in 1998. It sits directly across from Granite’s Plaza Tower One property, near Arapahoe Light Rail Station and the 203-room Westin Greenwood Village, which is scheduled to open next year. The building is currently 81 percent occupied by notable tenants like Hartford Insurance, TransUnion and the U.S. General Services Administration. High Pointe Tower is Granite’s third Denver-based acquisition since 2012. It also owns Plaza Tower and Prentice Plaza. The firm was represented in-house by Stephanie Lawrence, Will Hendrickson and Geoff Wescott. The unnamed seller was represented by CBRE’s Geoff Baukol.
LAKEWOOD, COLO. – Bethany Rehabilitation Center, a 56,502-square-foot skilled nursing facility in Lakewood, has sold to CareTrust for $17.9 million. The center is located at 5301 West 1st Ave., about five miles southwest of Denver. The property was built in 1969. It has 170 active beds and is licensed for 50 additional beds. CareTrust entered into a triple-net lease with Eduro Healthcare LLC, which took over operations on Feb. 1. The seller was represented by Mark Myers, Joshua Jandris and Charles Hilding of Institutional Property Advisors. Richard Bird of Marcus & Millichap’s Denver office was the firm’s broker of record in Colorado.
DENVER — The Confluence, a 288-unit residential development in Denver, has received $79 million in financing. The project is located at the southwest corner of 15th Street and Little Raven Street, in the Riverfront Park area of the city’s Lower Downtown (LoDo) district. The 34-story tower will include 10,000 square feet of retail space and a 300-space underground parking garage. Community amenities will include a fitness center, swimming pool with lounge and cabanas, spa, fire pit, game room, clubhouse and business center. The Confluence is being developed by PM Realty Group and National Real Estate Advisors. The construction loan was arranged by HFF’s Rob Rizzi, Josh Simon, Colin Oberg, Leon McBroom and Matt Gangawar through a national bank. It features a 48-month term at 65 percent loan-to-cost. HFF also arranged the joint venture partnership in 2013.
DENVER – A 21-unit apartment building in Denver has sold to an unnamed buyer for $3.6 million. The community is located at 1410 Poplar Street. It was renovated in 2012 and 2013, when it received condo-level finishes. The buyer and unnamed seller were represented by Matt Lewallen and Kevin Calame of Pinnacle Real Estate Advisors.
DENVER — The Preiss Company has acquired the Vista Student Housing Complex in Denver for an undisclosed sum. The 286-bed property is located at 1920 South University Blvd., directly across from the University of Denver campus. Preiss acquired the asset with a separate private investment group and its joint venture partner, Criterion Holdings, which will act as general manager. The company plans to invest an additional $500,000 to upgrade the facilities, including Internet bundled services, clubhouse and common area upgrades and enhancements to the vistas that overlook Denver’s Rocky Mountain range. Community amenities include a computer lab, business center with study rooms, clubhouse with television, outdoor television and pool table, fitness center, stand-up tanning bed, bocci ball court, outdoor fire pit and bike storage.
