Colorado

Pinnacle Brokers Sale of 94,949 SF Plaza West at Aurora Town Center in Colorado

by Amy Works March 11, 2024

AURORA, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Plaza West at Aurora Town Center, a 94,949-square-foot retail center in the Denver suburb of Aurora. The Colorado- and California-based sellers sold the asset to a Colorado-based investment group for $8 million. Situated on 7.8 acres at 13670 E. Alameda Ave., Plaza West at Aurora Town Center was 65 percent occupied at the time of sale. The property consists of a shopping center, which was built in 1985, anchored by Dollar Tree and Harbor Freight Tools, and a freestanding drive-thru building built in 2021 and occupied by Starbucks Coffee. Justin Krieger of Pinnacle Real Estate Advisors handled the transaction.

March 11, 2024

Acquisitions Colorado Industrial Western

JLL Negotiates Sale of 101,788 SF Industrial Building in Denver

by Amy Works March 8, 2024

DENVER — JLL Capital Markets has brokered the sale of Saltbox Denver – Park Hill, an industrial property located at 4800 Dahlia St. in Denver. Rob Key and Larry Thiel of JLL Capital Markets handled the transaction. Terms of the sale were not released. Saltbox fully occupies the 101,788-square-foot, side-loading building on a net-lease basis. Situated on 5.5 acres, the asset was built in 1959 and most recently renovated in 2021. The building features 22-foot clear heights, 14 dock-high doors, two grade-level doors and 144 parking spaces. The tenant offers digital commerce companies a flexible and tenant-ready office, warehousing and distribution solution to solve challenges in e-commerce.

March 8, 2024

Colorado Development Multifamily Western

Joint Venture Tops Off 255-Unit Tempo Nine Mile Apartment Project in Aurora, Colorado

by Amy Works March 6, 2024

AURORA, COLO. — A joint venture between Draper and Kramer Inc., Koelbel and Co., Mile High Development and Urban Roots Development has completed vertical construction of Tempo Nine Mile, a multifamily community in Aurora. The project, which is located at the northeast corner of Parker Road and Peoria Street, is part of the 22-acre The Point at Nine Mile master-planned development. The five-story property will feature 255 market-rate apartments in a mix of one-, two- and three-bedroom layouts, ranging from 542 square feet to 1,321 square feet. Additionally, the community will offer 3,000 square feet of ground-floor retail space, an outdoor pool, landscaped courtyard, community room, bike-ski-kayak room, and rooftop fitness center and party deck. Pre-leasing is slated to begin this summer, with first deliveries and move-ins scheduled for fall 2024. KTGY is serving as architect, and Brinkmann Constructors is serving as general contractor. The developers are financing the project through a HUD-insured loan that PGIM Real Estate originated.

March 6, 2024

Acquisitions Colorado Multifamily Western

JTA Real Properties Divests of Multifamily Portfolio in Aurora, Colorado for $9M

by Amy Works March 5, 2024

AURORA, COLO. — JTA Real Properties LLC has completed the disposition of a three-building multifamily portfolio, located at 1377-1397 Laredo St. and 16415 E. 14th Place in Aurora. Runt and Bro Laredo LLC acquired the portfolio for $9 million, or $115,500 per unit. The buyer plans to update and renovate the properties, which offer a unit mix of 69 450-square-foot one-bedroom/one-bath units and nine 400-square-foot studio/one-bath units. Marc Lippitt, Phil Dankner, Justin Herman, Will McCauley and Elliott Polanchyck of Unique Properties / TCN Worldwide handled the transaction.

March 5, 2024

Acquisitions Colorado Industrial Western

Unique Properties/TCN Worldwide Brokers $2.7M Sale of Warehouse in Golden, Colorado

by Amy Works March 5, 2024

GOLDEN, COLO. — Unique Properties / TCN Worldwide has arranged the sale of a freestanding warehouse property located at 13280 W. 43rd Drive in Golden, just west of Denver. Baystone LLC sold the asset to Ted’s Sheds, the long-term tenant of the property, for $2.7 million, or $238.09 per square foot. The 11,240-square-foot building was professionally built-out and maintained as a manufacturing/woodworking shop with professional office space and an outdoor storage component. The building was originally built in 2000 and features a fully sprinklered interior and signage and visibility on Highway 58. Brett MacDougal and Michael DeSantis of Unique Properties / TCN Worldwide represented the seller in the deal.

March 5, 2024

Acquisitions Colorado Healthcare Office Western

Marcus & Millichap Brokers $2.1M Sale of Medical Office Property in Lakewood, Colorado

by Amy Works March 4, 2024

LAKEWOOD, COLO. — Marcus & Millichap has arranged the sale of an office building in Lakewood, a first-ring suburb of Denver. A private investor purchased the asset from a limited liability company for $2.1 million. Located at 3405 Yarrow St., the property offers 7,053 square feet of Class B office space. Built in 2023, the building is fully occupied by Stanbrick Dental and Dental Care Alliance. Erik Enstad, Chadd Nelson and Brandon Kramer of Marcus & Millichap’s Denver office represented the seller, while Chris Lind, Mark Ruble, Zack House and Sean Lenchner of Marcus & Millichap’s Phoenix office represented the buyer in the deal. Adam Lewis of Marcus & Millichap served as Colorado broker of record.

March 4, 2024

Colorado Development Industrial Western

StarPoint Properties Nears Completion of 157,473 SF Point Central Business Park in Denver

by Amy Works March 1, 2024

DENVER — StarPoint Properties is nearing completion of Point Central Business Park, a speculative industrial project situated on more than 9.5 acres in Denver. Commencing construction last summer, the park is scheduled for completion in the second quarter of this year. Located at 1051 E. 73 Ave., the 157,473-square-foot park features a 74,618-square-foot building and an 82,855-square-foot building. The development can accommodate occupier sizes ranging from 13,000 square feet to 157,000 square feet. Each building offers 2,358 square feet of high-end speculative office space, 2,000A/480V electrical and 32-foot clear heights. The park features 225 parking spaces, 27 dock-high truck doors (with the ability to add an additional 23 doors) and eight drive-in doors. Drew McManus, Bryan Fry and Ryan Searle of Cushman & Wakefield are marketing the property for lease.

March 1, 2024

Acquisitions Colorado Multifamily Western

NorthPeak Commercial Brokers $10.5M Sale of Multifamily Property in Lakewood, Colorado

by Amy Works February 29, 2024

LAKEWOOD, COLO. — NorthPeak Commercial Advisors has arranged the sale of 1975 Oak Street, an apartment building in Lakewood, just southwest of Denver. The asset traded for $10.5 million, or $239,285 per unit. Scott Fetter and Joe Hornstein of NorthPeak Commercial Advisors represented the undisclosed seller, while Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors represented the buyer in the deal. The 33,703-square-foot property offers 42 residential units.

February 29, 2024

Colorado Development Loans Multifamily Seniors Housing Western

Lument Arranges $27M Construction Financing for Seniors Housing Project in Durango, Colorado

by Amy Works February 26, 2024

DURANGO, COLO. — Lument has arranged a $27 million debt placement to assist Mission Senior Living with the construction of a 124-unit, 129-bed, two-story assisted living and memory care community to be known as Mesa Verde Estates in Durango. Lument’s Steve McGee, Rob McAdams, and Sangjin Na led the transaction. The financing structure included a $20.9 million U.S. Department of Agriculture (USDA) guaranteed loan that a community bank provided. The structure also includes approximately $6 million of commercial property assessed clean energy (C-PACE) proceeds, which Lument sourced from an independent investment firm. C-PACE is an alternative financing mechanism used for the upfront costs associated with energy efficiency or renewable energy improvements. Founded in 2012, Mission Senior Living is an owner and operator of senior living communities in the Western U.S. with six communities totaling 639 units under management.

February 26, 2024

Acquisitions Colorado Industrial Western

American Financial Group Sells Industrial Building in Denver for $1.1M

by Amy Works February 26, 2024

DENVER — Malman Commercial Real Estate has arranged the sale of a 6,272-square-foot industrial property located at 4940 E. 39th Ave. in Denver. American Financial Group Corp. sold the asset to James R. Jones for $1.1 million. Jake Malman of Malman Commercial Real Estate represented the seller in the deal.

February 26, 2024

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