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3490-S-Carr-St-Lakewood-CO
AcquisitionsColoradoMultifamilyWestern

Capstone Arranges $5.4M Sale of The Ridge at 285 Multifamily Property in Lakewood, Colorado

by Amy Works

LAKEWOOD, COLO. — Capstone has brokered the sale of The Ridge at 285, a multifamily property located at 3490 S. Carr St. in Lakewood. The asset traded for $5.4 million. The names of the seller and buyer were not released. Constructed in 2020, the property features 12 townhome-style, three-bedroom/two-and-a-half bath apartments. All apartments feature stainless steel appliances, in-unit washers and dryers, and attached garages. Christian Burgdof and Sean Holamon of Capstone handled the transaction.

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AcquisitionsColoradoIndustrialSelf-StorageWestern

DXD Capital Buys Seven Self-Storage Facilities in Grand Junction, Colorado

by Amy Works

GRAND JUNCTION, COLO. — DXD Capital has purchased a seven-property self-storage facility portfolio in Grand Junction, located in the western part of the state near the Utah border. DXD acquired the assets through DXD Self Storage Fund II, which launched in 2022. The price and sellers were not disclosed. Totaling 135,588 net rentable square feet, the portfolio offers 923 units. DXD hired StoragePro as third-party manager for the seven facilities. The buyer plans several capital improvements for the properties, including increased security measures and ADA paving projects at some facilities. The properties will continue to operate under the Hill and Home Storage brand. Adam Schlosser and Thomas Parsons of Marcus & Millichap represented DXD Capital in the deal.

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25455-E-Smoky-Hill-Rd-Aurora-CO
AcquisitionsColoradoNet LeaseRestaurantRetailWestern

Marcus & Millichap Brokers $2.6M Sale of Starbucks-Occupied Property in Aurora, Colorado

by Amy Works

AURORA, COLO. — Marcus & Millichap has arranged the sale of a restaurant property located at 25455 E. Smoky Hill Road in Aurora, a suburb east of Denver. A developer sold the asset to a local all-cash investor in a 1031 exchange for $2.6 million. Starbucks Coffee occupies the 2,155-square-foot property on a net-lease basis. James Rassenfoss and Drew Isaac of Marcus & Millichap’s Denver office represented the seller, while Kyle Malnati at Kentwood Commercial represented the buyer in the deal.

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Shops-Walnut-Creek-Denver-CO.jpg
ColoradoMarket ReportsRetailWesternWestern Market Reports

Denver Retail Market: Is a Storm Brewing?

by Jeff Shaw

— By Tami Lord, Senior Vice President, SRS Real Estate Partners — No longer the Cowtown of ages past, Denver has developed into an economically diverse, midsized city as demonstrated by both the residential and business growth over the last decade. Major companies now include Denver on their target list for potential headquarters, regional hubs, and distribution locations. Compared to the coastal markets, Denver is more affordable and offers a very desirable quality of life for employees, helping to put Denver on the short list. The pandemic only increased Denver’s growth trajectory. All of a sudden, people were able to maintain their current employment while living in a setting known for over 300 days of sun annually with easy access to hiking, skiing, biking, camping…the list goes on. The population growth has spurred rising housing and land prices. Coupled with rising construction costs, increasing real estate taxes, long permitting times and a tight employment market, traditional retail development has slowed. The lack of significant new development has pushed retail vacancy to a near-record low of 4.1 percent across the metro, according to data from CoStar. Many downtown retail markets across the country have been hit with higher vacancy rates in …

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AcquisitionsColoradoIndustrialWestern

John Propp Commercial Negotiates $1.3M Sale of Industrial Campus in Englewood, Colorado

by Amy Works

ENGLEWOOD, COLO. — John Propp Commercial has arranged the sale of a multiple-property industrial asset in Englewood, just south of Denver. DSR 4 Tejon LLC and DSR Investments LLC acquired the buildings at 3064 S. Umatilla, 3063 S. Tejon and 3030 S. Umatilla in Englewood for a total of $1.3 million. The transaction includes two freestanding buildings on a 12,922-square-foot lot at 3063 S. Tejon St.; a 1,800-square-foot building on a 7,029-square-foot lot at 3064 S. Umatilla St.; and a 21,040-square-foot storage yard at 3030 S. Umatilla St. John V. Propp of John Propp Commercial Group represented the seller, Alive Jay Ratliff Trust & Mary Shirleen Ratliff Trust, while Oleg Tsybulskiy of RE/MAX of Denver represented the buyer in the deal.

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Athmar-Park-Denver-CO.jpg
AcquisitionsColoradoRetailWestern

Sidford Capital Buys Two Retail Centers in Colorado for $11.2M

by Amy Works

DENVER AND LITTLETON, COLO. — Sidford Capital has acquired two shopping centers, totaling 111,142 square feet, in Colorado. A Southern California-based private investor sold the portfolio for $11.2 million. The portfolio includes Athmar Park Shopping Center, a 58,204-square-foot neighborhood retail center at 1865-1935 W. Mississippi Ave. in Denver, and SouthPark Shopping Center, a 52,938-square-foot property at 131-151 and 201-215 W. County Line Road in Littleton. Athmar Park was 77.5 percent occupied at the time of sale, with Family Dollar as the anchor. SouthPark was 84.5 percent occupied at the time of sale and is shadowed anchored by Dollar Tree and Goodwill. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller and procured the buyer in the deal.

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301-S-Harrison-St-Denver-CO
ColoradoDevelopmentMultifamilySeniors HousingWestern

Cogir Senior Living, Ryan Cos. Open 137-Unit ACOYA Cherry Creek Seniors Housing Project in Denver

by Amy Works

DENVER — Cogir Senior Living and Ryan Cos. have opened ACOYA Cherry Creek, a senior living community located at 301 S. Harrison St. in Denver. ACOYA Cherry Creek offers 137 independent and assisted living apartments. The community features full-size residential kitchens, multiple dining venues, an art room, a salon, club room, wellness area and an outdoor bar with a view of the Rocky Mountains.

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Ent-Credit-Union-Greeley-CO
AcquisitionsColoradoNet LeaseRetailWestern

Marcus & Millichap Negotiates $2.2M Sale of Retail Ground Lease in Greeley, Colorado

by Amy Works

GREELEY, COLO. — Marcus & Millichap has arranged the sale of a 15-year, absolute triple-net ground lease for a Ent Credit Union-occupied property in Greeley, southeast of Fort Collins. A developer sold the asset to an undisclosed buyer for $2.2 million. Drew Isaac and Ian Hicks of Marcus & Millichap’s Denver office represented the seller in the deal. Located at 10th Street Road, Ent Credit Union is part of a mixed-use development that features a Starbucks Coffee, QuikTrip, 177 single-family homes and 189 apartments.

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Montbello-Industrial-Portfolio-Denver-CO
AcquisitionsArizonaCaliforniaColoradoFloridaIndustrialWestern

Stockbridge Capital Sells 1.7 MSF Project RedHawk Industrial Portfolio

by Amy Works

SAN FRANCISCO — San Francisco-based Stockbridge Capital Group has completed the disposition of Project RedHawk, a 1.7 million-square-foot light industrial portfolio spread across multiple markets. The portfolio was sold in four separate transactions to two different buyers between December 2023 and January 2024 and comprises four sub-portfolios totaling 49 buildings in Tempe, Ariz.; San Jose, Calif.; Denver; and Pompano Beach, Fla. BKM Capital Partners acquired Gateway University Park I & II, a 16-building, 258,409-square-foot asset at 1605-1635 and 1705-1797 W. University Drive in Tempe, and Junction Business Park, a two-building, 119,101-square-foot property at 1911-1943 Hartog Drive and 1914-1968 Junction Ave. in San Jose. A partnership between a global manager of alternative investments and Brennan Investment Group purchased The Montebello Industrial Portfolio, a 17-building, 856,013-square-foot asset in Denver, and Powerline Business Park, a 14-building, 444,120-square-foot in Pompano Beach, Fla. Jim Carpenter and Will Strong of Cushman & Wakefield’s National Industrial Advisory Group, along with IAG’s Kirk Kuller, Michael Matchett, Molly Hunt, Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Jeff Chiate, Rick Ellison and Matthew Leupold, in partnership with Robert Buckley, Tracey Cartledge, Scott Prosser, Steve Hermann and Jack Depuy of Cushman & Wakefield represented all parties in the transactions. Gideon Gil, …

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Clara-Brown-Commons-Denver-CO
Affordable HousingColoradoDevelopmentMultifamilyWestern

Hunt Capital, Mile High Ministries Open 61-Unit Clara Brown Commons Affordable Housing Community in Denver

by Amy Works

DENVER — Hunt Capital Partners (HCP), in collaboration with faith-based developer Mile High Ministries (MHM), has opened Clara Brown Commons, a four-story, 61- unit affordable multifamily property in Denver’s Cole neighborhood. Located at 3701 York St., Clara Brown Commons comprises 14 one-bedroom/one-bath, 28 two-bedroom/two-bath and 19 three-bedroom/two-bath apartments for low-income families earning up to 20 to 80 percent of the area median income. Apartments feature full-size refrigerators/freezers, electric ranges with recirculating hood, dishwashers, washers/dryers, ceiling fans and coat closets. Community amenities include a conference room, fitness room, children’s playroom, bike storage, mail area, sunroom, balcony and roof patio. Financing for the project included a tax-exempt $15.9 million construction loan and a tax-exempt $6.4 million construction-to-permanent loan, both provided by Pacific Western Bank. MHM provided a $6 million loan, composed of $1.8 million in City of Denver HOME funds, $1.5 million in Colorado Division of Housing HOME funds and $2.7 million in sponsor capital campaign funds. Completion of Clara Brown Commons is the first step of a three-stage plan to enrich the Cole neighborhood in northern Denver. Seventeen Habitat for Humanity townhomes adjacent to the apartment complex will open by end of January. Future phases will provide additional space for community …

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