Colorado

Drawbridge Realty Buys Arrow Electronics Headquarters Property in Englewood, Colorado for $106M

by Amy Works April 20, 2022

ENGLEWOOD, COLO. — Drawbridge Realty has purchased one of the Arrow Buildings at Dry Creek Station in Englewood for $106 million. The acquisition is Drawbridge’s first since completing a $1.7 billion recapitalization of its national portfolio in February with institutional investors KKR and General Atlantic. Arrow Electronics (NYSE: ARW) fully occupies the 223,177-square-foot, Class A headquarters building, located at 9151 E. Panorama, on a long-term basis. Constructed in 2017, the property enabled Arrow to consolidate its more than 1,600 local employees spread across nine buildings into one campus-style location. The seven-story building offers parking for more than 1,300 cars and is adjacent to Interstate 25 and near the Dry Creek light rail station. The acquired building is adjacent to Arrow’s other worldwide headquarters building. Terms of the transaction were not released.

April 20, 2022

Acquisitions Colorado Healthcare Office Western

Cushman & Wakefield Brokers Sale of 241,200 SF Flex Portfolio in Colorado Springs

by Amy Works April 20, 2022

COLORADO SPRINGS, COLO. — Cushman & Wakefield has arranged the sale of Interquest I-IV, a four-building flex, office and healthcare portfolio located at 9925, 9945, 9950 and 9960 Federal Drive in Colorado Springs. An undisclosed seller sold the asset to a Denver-based private partnership for an undisclosed price. Aaron Johnson and Jon Hendrickson of Cushman & Wakefield represented the seller. Constructed in phases in 2001 and 2008/2009, the buildings offer a total of 241,232 square feet of flex, office and healthcare space. At the time of sale, the portfolio was 76 percent leased to a healthcare and technology tenants. Interquest I (9945 Federal Drive) and Interquest II (9925 Federal Drive) have LEED Silver certification.

April 20, 2022

Acquisitions Colorado Industrial Western

Stockbridge Purchases Fully Occupied 1.3 MSF Industrial Portfolio in Denver

by Amy Works April 19, 2022

DENVER — Stockbridge has acquired an eight-building industrial portfolio in Denver. The name of the seller and acquisition price were not released. Totaling more than 1.3 million square feet of infill industrial space, the portfolio includes: Table Mountain Commerce Center, 16163 W. 45th Drive West 53rd Place, 445 W. 53rd Place Leyden I, 4735-4795 Leyden St. Leyden II, 4725 Leyden St. Denver Business Center 5, 11175 E. 55th Ave. Denver Business Center, 11605 E. 55th Ave. Moline Distribution Center, 4865 Moline St. Moncrieff Distribution Center, 14303 E. Moncrieff Place Built between 1971 and 2009, the buildings offer clear heights ranging from 22 feet to 32 feet. At the time of sale, the portfolio was fully leased to 25 tenants in variety of industries, including electrical supplies; warehouse and distribution; manufacturing; construction and building materials; technology; and consumer goods. Jim Bolt, Tyler Carner, Jeremy Ballenger and Jessica Ostermick of CBRE’s Denver office represented the seller in the deal.

April 19, 2022

Acquisitions Colorado Industrial Western

NAI Shames Makovsky Arranges $8.7M Sale of Industrial Asset in Denver

by Amy Works April 19, 2022

DENVER, COLO. — NAI Shames Makovsky has brokered the sale of an industrial building located at 4101 and 4201 E. 48th Ave. in Denver. Jeremy Fein sold the asset to 48th and Colorado LLC and East 48th LP LLC for $8.7 million in an off-market transaction. The property consists of 95,300 square feet of industrial space. The buyer plans to hold the asset as a long-term investment with significant value-add improvements. Paul Cattin and Adam Hubschman of NAI Shames Makovsky represented the buyer in the deal.

April 19, 2022

Acquisitions Colorado Multifamily Retail Western

Marcus & Millichap Brokers Sale of Brightwater Golf Club, Residential Development in Gypsum, Colorado

by Amy Works April 13, 2022

GYPSUM, COLO. — Marcus & Millichap has arranged the sale of Brightwater Club, a golf course and residential development opportunity in Gypsum. Gypsum Creek Holdings sold the asset to Siena Development for an undisclosed price. Brightwater Club consists of a master-planned, 640-acre residential development with a Phase II development planned on the adjacent 323-acre tract that currently has four residences, three barns and two lakes. James Stewart of Marcus & Millichap represented the seller and procured the buyer in the deal.

April 13, 2022

Acquisitions Colorado Multifamily Western

Berkadia Negotiates $9M Sale of Domain at Wash Park Apartments in Denver

by Amy Works April 12, 2022

DENVER — Berkadia has arranged the sale of Domain at Wash Park, a mid-rise apartment community in Denver. A California-based buyer acquired the property for $9 million, or $450,000 per unit, from an undisclosed seller. Built in 2014 at 300 S. Lafayette St., Domain at Wash Park features 20 one- and two-bedroom apartments. At the time of sale, the community was 95 percent occupied. Nick Steel, John Laratta, Tyler King and Nate Moyer of Berkadia Denver represented the seller in the deal.

April 12, 2022

Colorado Development Multifamily Western

Legacy Partners, Pacific Life Acquire Site for 236-Unit Residential Tower in Denver

by Amy Works April 11, 2022

DENVER — Legacy Partners and Pacific Life have purchased Araceli DTC, a to-be-developed residential tower in Denver. Situated on 1.3 acres at 4552 S. Ulster, the property will feature 236 apartments spread across 10 levels and a three-level garage podium. The property will feature panoramic views and an average unit size of 896 square feet. Community amenities will include a pool amenity deck, a protected Uber/Lyft pickup/drop-off area and electric car charging stations. Completion is slated for 2024. Mark Erland, Matthew Benson and Kevin Barron of JLL Capital Markets arranged $106 million in joint-venture equity and construction financing for Legacy Partners. The financing is a four-year, floating-rate senior construction loan, which an investment manager provided.

April 11, 2022

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Advisors Negotiates $15M Sale of Residential Portfolio in Denver

by Amy Works April 6, 2022

DENVER — Pinnacle Real Estate Advisors has arranged the sale of a value-add multifamily portfolio, located at 1635 Cook St., 1671 Cook St. and 1620 Adams St. in Denver. The assets traded for $15 million, or $288,462 per unit. Situated in Denver’s City Park neighborhood, the properties, which were built in 1960 and 1968, offer a total of 52 apartments. Robert Lawson and Jim Knowlton of Pinnacle Real Estate Advisors represented the undisclosed sellers, while Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors represented the buyer in the deal.

April 6, 2022

Acquisitions Colorado Life Sciences Top Stories Western

BioMed Realty Acquires 1 MSF Flatiron Park Life Sciences Campus in Boulder, Colorado

by Taylor Williams April 4, 2022

BOULDER, COLO. — BioMed Realty, a San Diego-based owner-operator of healthcare real estate and a Blackstone portfolio company, has acquired Flatiron Park, a 1 million-square-foot office and life sciences campus in Boulder, a northwestern suburb of Denver. The sales price was not disclosed, but The Wall Street Journal reports that BioMed Realty paid more than $600 million for the property. JLL represented the seller, a joint venture between Crescent Real Estate, Goldman Sachs Asset Management and Lionstone Investments, in the transaction. BioMed Realty plans to invest about $200 million in capital improvements to the campus, an endeavor that is expected to create about 400 local construction jobs. Flatiron Park consists of 22 buildings that were approximately 90 percent leased at the time of sale. The buildings range in size from approximately 15,000 to 133,000 square feet. BioMed officials say that the campus will “anchor” its presence in the greater Denver area, which the company says has an exceptionally talented workforce “Boulder has always been a market to watch, driven by highly educated talent, robust capital flow, an existing base of life sciences and tech pioneers and great quality of life,” says Mike Ruhl, vice president of leasing at BioMed Realty. …

April 4, 2022

Acquisitions Colorado Multifamily Western

NorthPeak Commercial Brokers $15M Sale of Multifamily Portfolio in Denver

by Amy Works March 28, 2022

DENVER — NorthPeak Commercial Advisors has arranged the sale of a multifamily portfolio located at 1635 and 1671 Cook St., and 1620 Adams St. in Denver. The assets traded for $15 million. Totaling 30,023 square feet, the portfolio features 52 apartments. Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors represented the undisclosed buyer, while Robert Lawson of Pinnacle Real Estate Advisors represented the undisclosed seller in the deal.

March 28, 2022

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