DENVER — Pinnacle Real Estate Advisors, on behalf of Sharing Connexion Inc., a Colorado-based nonprofit, has arranged the sale of a 1,378-square-foot retail property located at 472 N. Broadway in Denver. SCI – 472 Broadway LLC sold the asset to an undisclosed buyer for $1.2 million. Corey Sandberg of Pinnacle represented the seller in the deal.
GYPSUM, COLO. — JLL Capital Markets has provided an $18.7 million Freddie Mac loan for Red Table Apartments, a multifamily property in Gypsum. Tony Nargi of JLL Capital Market’s Debt Advisory led the team that arranged the 10-year, fixed-rate loan on behalf of the borrower, Brikwell. Located at 765 Red Table Drive, Red Table Apartments offers 77 studio, one- and two-bedroom units in a three-story building. Units feature hard surface LVP flooring, stainless steel appliances and butcher box countertops. Situated on 3.5 acres, the community offers commercial laundry facilities, a basketball court, community grills, a picnic patio area and 45 attached and detached garages. The property was built in 2009 and expanded in 2018.
BAILEY, COLO. — Kaufman Hagan Commercial Real Estate has arranged the sale of a self-storage facility, located at 63716 US Highway 285 in Bailey. The asset traded for $1.3 million, or $80.02 per square foot. Situated on 2 acres, the property offers 123 self-storage units. Ryan Floyd of Kaufman Hagan handled the transaction. The names of the seller and buyer were not released.
DENVER — Equity Commonwealth (NYSE: EQC) is under contract to sell 1225 Seventeenth Street, an office property in Denver, for a gross sales price of $132.5 million. The 709,402-square-foot property is Equity Commonwealth’s last remaining property. The net purchase price is expected to be approximately $124.4 million after credits primarily for contractual lease costs. The undisclosed buyer has completed due diligence, and the earnest money deposit is non-refundable. The sale is scheduled to close later this month. The transaction is subject to customary closing conditions, and there is no assurance that the transaction will close.
COLORADO SPRINGS, CALIF. — Lafayette, Colo.-based Alloy Real Estate Capital has purchased Tech Center VI, a midrise office building at 5575 Tech Center Drive in Colorado Springs. Tech Center VI, an entity managed by Ogilvie Properties, sold the asset for $17.2 million. At the time of sale, the three-story 104,702-square-foot property was 97 percent leased to 17 tenants, most in the aerospace and defense contractor industries. Aaron Johnson, Jon Hendrickson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the deal.
EAGLE, COLO. — JLL Capital Markets has provided a $7.5 million Freddie Mac loan for House Apartments, a multifamily property in Eagle. Tony Nargi led the JLL Capital Market’s Debt Advisory team to originate the 10-year, fixed-rate loan on behalf of the borrower, Brikwell. Situated on 4.8 acres at 85 Pond Road, the three-story property features 54 units totaling 27,838 rentable square feet. Community amenities include an on-site exercise facility, community kitchen, elevator and dedicated work-from-home spaces. The asset was built in 1998.
DENVER — Newmark has directed the sale of an industrial property at 6580 Federal Blvd. in Denver. Joseph Bogetich and Larry Brand sold the asset to 6580 Federal LLC for $1.4 million. Located at 6580 Federal Blvd., the building offers 5,288 square feet of industrial space. John Gustafson of Newmark represented the seller, while Engel & Volkers Denver represented the buyer in the deal.
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.
