Colorado

Healthcare Realty Buys 42,770 SF Medical Office Building in Colorado Springs

by Amy Works August 1, 2023

COLORADO SPRINGS, COLO. — Quiver Investments has facilitated the sale of a medical office building located at 8540 Scarborough Drive in Colorado Springs. Pensa Colorado sold the asset to Healthcare Realty (NYSE: HR) for an undisclosed price. Constructed in 2007, the 42,770-square-foot property was fully occupied by 12 tenants at the time of sale. Current tenants include UCHealth, Elevated Family Care and Gorman Medical. John Witt and Ben Swanson of Quiver Investments represented the seller in the transaction.

August 1, 2023

Acquisitions Colorado Multifamily Western

Pinnacle Arranges $3.6M Sale of Apartment Building in Lakewood, Colorado

by Amy Works August 1, 2023

LAKEWOOD, COLO. — Pinnacle Real Estate Advisors has arranged the sale of an apartment building located at 8220 W. 16th Place in Lakewood, just west of Denver. The property traded for $3.6 million, or $202,777 per unit. Built in 1959, the interior-hallway building features three one-bedroom/one-bath units and 15 two-bedroom/one-bath units. Robert Lawson of Pinnacle represented the undisclosed sellers, while Charlie Mitelhaus and Andrew Monette of Pinnacle represented the undisclosed buyers in the deal.

August 1, 2023

Acquisitions Colorado Industrial Western

Marcus & Millichap Negotiates Sale of 8,075 SF Industrial Property in Arvada, Colorado

by Amy Works August 1, 2023

ARVADA, COLO. — Marcus & Millichap has brokered the sale of an industrial building located at 5790 Lamar St. in Arvada, just northwest of Denver. A limited liability company sold the asset to an undisclosed buyer for $1.7 million. Riley Kilgore, Alyssa Tomback and Thimy Moraitis of Marcus & Millichap’s Denver office represented the seller in transaction. Situated on 0.5 acres, the 8,075-square-foot property features a fully fenced parking lot, one 12-foot drive-in door and three-phase power with 400 amps and 220 volts.

August 1, 2023

Acquisitions Colorado Retail Western

Westwood Financial Sells 23,847 SF Yosemite Center Retail Property in Greenwood Village, Colorado

by Jeff Shaw July 24, 2023

GREENWOOD VILLAGE, COLO. — Westwood Financial has sold Yosemite Center, a 23,847-square-foot shopping center located in Greenwood Village, roughly 12 miles south of Denver. Tenants at the property, which was fully leased at the time of sale, include Chipotle Mexican Grill, Jimmy John’s, Advance Auto Parts, Massage Envy, The Joint and D1 Training. CBRE National Retail Partners brokered the transaction.

July 24, 2023

Acquisitions Colorado Office Western

Ivy Realty Buys Junction 23 Creative Office Redevelopment in Denver

by Jeff Shaw July 17, 2023

DENVER — Ivy Realty has purchased Junction 23, a creative office property at 2323 Delgany St. in Denver’s River North (RiNo) District. The price was not disclosed. The project represents a 12-month renovation by EverWest, which converted a 1975-built industrial building into 86,127 square feet of creative workspace in 2019. Junction 23 features an open interior, indoor-outdoor concept with a 73,915-square-foot ground floor and 12,212-square-foot second floor. The project incorporates numerous flexible work areas including modern conference rooms, small-group breakout spaces and roll-up garage doors that connect to a center atrium and outdoor meeting areas. It features 16-foot windows, 25-foot exposed ceilings, more than two dozen skylights and energy-efficient LED lighting. John Jugl of Newmark represented the seller, EverWest, in the transaction.

July 17, 2023

Affordable Housing Colorado Development Loans Multifamily Western

KeyBank Arranges $117.7M in Financing for Two Affordable Housing Projects in Metro Denver

by Jeff Shaw July 13, 2023

DENVER AND ARVADA, COLO. — KeyBank Community Development Lending and Investment has arranged $117.7 million in financing for Brinshore Development and Mile High Affordable Housing for the construction of two properties in Colorado. KeyBank arranged $56.9 million for the development of Ralston Gardens Apartments, a 102-unit affordable community in the Denver suburb of Arvada. KeyBank secured a $26.7 construction loan, a $14 million permanent loan through the Fannie Mae MTEB Program and $16.2 million in total tax credit equity to the project. The Colorado Department of Local Affairs also provided a $4.3 million Housing Development Grant loan. Ralston Gardens will be affordable to households earning up to 30, 50, 60 and 70 percent of the area median income (AMI). KeyBank also provided $60.7 million of financing for the construction of Northfield Flats, a 129-unit project in Denver. KeyBank arranged a $28.2 construction loan and a $14.8 million permanent loan through the Fannie Mae MTEB Program, as well as $17.7 million in total tax credit equity. The project received local support with a $3.1 million Housing Trust Fund loan from the Colorado Department of Local Affairs and a $4.5 million loan from Denver’s Department of Housing Stability. Northfield Flats will be …

July 13, 2023

Acquisitions Colorado Life Sciences Loans Western

Essex Arranges $58.5M Financing for Acquisition of Seagate R&D Campus in Longmont, Colorado

by Jeff Shaw July 12, 2023

LONGMONT, COLO. — Essex Financial Group has arranged a $58.5 million acquisition loan for the purchase of the Seagate campus in Longmont. The state-of-the-art R&D facility, spanning more than 533,000 square feet, was acquired by Conscience Bay Co. and Battery Global Advisors. The campus, which includes lab space, offices and amenities, is leased back to Seagate Technology Holdings. The financing arrangement aligns with CBC’s strategy of acquiring income-producing assets in Colorado.

July 12, 2023

Acquisitions Colorado Industrial Office Western

Tepuy Sells Office/Industrial Property in Loveland, Colorado for $4.7M

by Jeff Shaw July 11, 2023

LOVELAND, COLO. — Tepuy Properties has sold a 28,396-square-foot office/industrial space in Loveland for $4.7 million. The building, situated off highway 287, offers versatile spaces suitable for different businesses. The property, originally purchased by Tepuy in 2017, is fully occupied. The buyer was Wing Seven Capital LLC. The sale of this property allows Tepuy to reposition another asset in its portfolio.

July 11, 2023

Colorado Development Industrial Western

Saunders, NavPoint Complete Construction of Two Industrial Buildings in Castle Rock, Colorado

by Jeff Shaw July 7, 2023

CASTLE ROCK, COLO. — Saunders Development and NavPoint Real Estate Group have completed construction on two 80,000 square-foot industrial buildings in Castle Rock. The buildings, designed for distribution tenants, feature a ceiling height of 24 feet. Lakewood Electric and Colorado Powerline are the first tenants to operate from one of the buildings. Jeff Brandon and Charlie Davis of NavPoint Real Estate Group are handling the leasing of these two buildings.

July 7, 2023

Colorado Leasing Activity Office Western

Avison Young Arranges 13,400 SF Lease for Law Firm in Denver

by Jeff Shaw June 30, 2023

DENVER — Avison Young has negotiated a 10-year lease agreement for a 13,400-square-foot office space at 1400 S. Colorado Blvd. in Denver. Law firm Springer, Steinberg, Giacomini, Burstein and Holycross will occupy the entire top floor of the recently renovated building. The five-story property underwent a full renovation to transform it into a multi-tenant building. Avison Young’s leasing agents represented the owner, Matt Lewan, CEO of Integrated Property Services, and directly sourced the tenant. The move-in is scheduled to take place in November 2023.

June 30, 2023

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