ERIE, COLO. — The Minneapolis office of Colliers Mortgage has provided a $19.3 million HUD 213 loan for the construction of Village Cooperative of Erie, an age-restricted cooperative residential property in Erie. The borrower is Village Cooperative of Erie. The property will feature 64 one-, two- and two-bedroom plus den units with stainless steel appliances, nine-foot ceilings and in-unit washers/dryers. Community amenities will include underground heated parking, a fitness center, community room with serving kitchen and private meeting room, hobby room, parcel/mail room, on-site management, an elevator, community deck and garden plots.
DENVER — Cushman & Wakefield has arranged the sale of Virginia Village Shopping Center, a neighborhood shopping center located at South Holly Street and East Florida Avenue in southeast Denver. A Denver-based private partnership acquired the property from Denver-based Virginia Village Associates LTD for an undisclosed price. Originally built in 1957 and most recently renovated in 2020, Virginia Village Shopping Center offers 49,331 square feet of retail space. At the time of sale, the property was 80 percent leased to 11 tenants. Offering 265 parking spaces, the asset is situated on nearly 5 acres at 1417-1495 S. Holly St. and 5595 E. Florida Ave. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the transaction.
CASTLE PINES, COLO. — Marcus & Millichap has arranged the sale of a net-leased retail property located at 7282 Lagae Road in Castle Pines. An Arizona-based developer/limited liability company sold the asset to a Colorado-based private investor for $4 million. Service Street Auto Repair occupies the 4,488-square-foot building under a 20-year absolute triple-net lease. The property is situated near the Castle Rock Promenade & Outlets and a King Soopers Center. Drew Isaac and James Rassenfoss of Marcus & Millichap represented the seller in the deal.
AURORA, COLO. — A joint venture of Draper and Kramer Inc., Koelbel and Co., Mile High Development and Urban Roots Development is opening Tempo Nine Mile Station, an apartment community in Aurora. Leasing is currently underway, with residents slated to move-in in February. Situated at 12150 E. Dartmouth Ave. within the 22-acre The Point master-planned development, Tempo Nine Mile Station features 255 apartments in studio, one-, two- and three-bedroom floor plans, ranging in size from 542 square feet to 1,321 square feet. Interiors offer upscale finishes, including contemporary kitchens with wood-grain cabinets, stainless steel appliances, subway tile backsplashes, quartz countertops and black hardware. All apartments also include plank-style flooring and in-unit laundry, with select residences offering a private balcony. Community amenities will include an outdoor pool and landscaped courtyard; community room, coworking spaces; a “Colorado Room” with bike, ski and kayak storage, hangout space and stations for outdoor gear repair; a yoga studio and rooftop fitness center; and a party deck. The mixed-use building also features 3,000 square feet of ground-floor retail space. Mission Rock Residential will manage the asset. The development team includes KTGY as project architect and Brinkmann Constructors as general contractor. PGIM is the project lender, utilizing the …
DENVER — John Propp Commercial Group has arranged the sale of an industrial property in Denver. River Rise Capital acquired the building from LG Investments for $5 million. Located at 4391 York St., the asset includes a 30,078-square-foot building situated on 1.7 acres. John Propp and Michael Honc of John Propp Commercial Group represented the seller in the deal. The new owner plans to hold the property as an investment after re-signing the tenant, United States Building Supply Co., to a new long-term lease.
FORT COLLINS, COLO. — JRK Property Holdings has completed the disposition of Courtney Park, a garden-style multifamily property in Fort Collins, to ColRich Multifamily for $64.1 million. Terrance Hunt, Shane Ozment, Chris Hart and Brad Schlafer of CBRE represented the seller in the deal. Located at 4470 S. Lemay Ave., Courtney Park offers 248 one- and two-bedroom apartments spread across 13 two- and three-story residential buildings. Each unit features stainless steel appliances, walk-in closets, in-unit washers/dryers and private balconies or patios. Community amenities include a clubhouse building, business center, fitness center, swimming pool, hot tub, an outdoor grilling area, a playground, pet park and 441 parking spaces. Built in 1986, the property was renovated in 2008. Renovations include upgrades to the apartment interiors, clubhouse and common area.
LONGMONT, COLO. — Broomfield, Colo.-based Profere Partners has completed the disposition of Longmont Medical Campus, a medical outpatient building located at 1551 Professional Lane in Longmont. Terms of the transaction were not released. Originally built in 2002 and most recently renovated in 2022, the two-story multi-tenant facility offers 104,438 square feet of medical office space. At the time of sale, the property was 92 percent leased to 19 tenants, anchored by University of Colorado Medicine. Aaron Johnson, Travis Ives, Jon Hendrickson, Mitch Veremeychik, Gino Lollio and Tyler Morss of Cushman & Wakefield represented the seller in the deal.
ENGLEWOOD, COLO. — A joint venture between DPC Cos. and Ogilvie Partners has acquired Englewood CityCenter for an undisclosed price. Brad Lyons of CBRE handled the transaction. Englewood CityCenter offers 220,000 square feet of office, retail and multifamily space. The joint venture is working with the City of Englewood on a master redevelopment plan to transform Englewood CityCenter into a community center with multifamily housing, open space for community gathering and a walkable live/work/shop area with retail, services, restaurants and a hotel within the 12-acre site. At the time of sale, the property was 40 percent leased. Current tenants include Harbor Freight, Ross Dress for Less, Petco, Tokyo Joe’s, Jersey Mike’s Subs and Einstein Bros.
PUEBLO, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Oxford Pines Apartments, located at 1024-1026 Oxford St. and 28 Amherst Ave. in Pueblo. The three-building property offers 35 one- and two-bedroom units, many with private balconies, as well as 23 carports and two garages. Chris Knowlton of Pinnacle Real Estate Advisors represented the undisclosed seller and undisclosed buyer in the deal. The asset traded for $3.1 million, or $90,000 per unit.
DENVER — Pinnacle Real Estate Advisors has arranged the sale of a retail and liquor store property located at 2035 S. Broadway in Denver. The 5,589-square-foot property traded for $4.7 million in an off-market transaction. The names of the seller and buyer were not released. Levi Saxen and Jack Eberwein of The Saxen Team of Pinnacle Real Estate Advisors represented the buyer and seller in the deal.