DENVER — Marcus & Millichap has negotiated the sale of a multi-tenant industrial property located at 1221 E. 56th Ave. in Denver. The sales price was undisclosed. Alyssa Tomback of Marcus & MIlichap’s Denver office represented the seller and buyer, both of which were private investors who requested anonymity, in the transaction. At the time of sale, the 36,300-square-foot property was fully occupied by multiple tenants.
LOVELAND, COLO. — Roaring Fork Real Estate has completed the sale of a warehouse cold storage building located at 7311 E. Highway 34 in Loveland. WS Properties Loveland acquired the asset for $6 million. Situated on four acres, the 31,612-square-foot facility features more than 20,000 square feet of cold storage and dry storage. The asset also includes a shipping/receiving area, locker rooms and office space. The buyer plans to convert the single-tenant facility property into a third-party logistics facility. The existing tenant, Canyon Bakehouse, is scheduled to vacate the premises in June. Jared Goodman of Cushman & Wakefield represented the seller in the transaction.
WESTMINSTER, COLO. — Certus has completed the sale of Church Ranch Corporate Center, a Class A office property located along the US-30/Denver-Boulder corridor in Westminster. Lotus Co. acquired the building for $25.4 million. Built in 2001 and renovated in 2020, the four-story, multi-tenant asset features 124,500 square feet of office space. At the time of sale, the property was 90 percent leased to 14 tenants. The building is located at 10170 Church Ranch Way. Cushman & Wakefield’s Aaron Johnson, Jon Hendrickson and Mitch Veremeychik represented the seller in the deal. Additionally, Baxter Fain, Rob Cronenberg and Sarah Dinning of Cushman & Wakefield’s Denver Equity, Debt & Structured Finance Group arranged the debt financing for the buyer. A CMBS lender provided the $16.5 million, 10-year, full-term, interest-only loan.
COLORADO SPRINGS, COLO. — SRS Real Estate Partners has arranged the sale of a medical retail property located at 1910 Lelaray St. in Colorado Springs. A Colorado-based private investor sold the asset to a West Coast-based investor for $10.6 million. Built in 2009 on 2.1 acres, the property features 19,187 square feet of medical office space. Liberty Dialysis, a subsidiary of Fresenius, and Pikes Peak Nephrology fully occupy the two-tenant building. Stephen Sullivan, Matthew Mousavi and Patrick Luther of SRS’ National Net Lease Group represented the seller in the deal.
DENVER — A joint venture between Continuum Partners and Clarion Partners has obtained $130 million in refinancing for Market Station, a Class A mixed-use property in Denver’s LoDo neighborhood. Eric Tupler and William Haass of JLL Capital Markets secured the 12-year, fixed-rate loan through a life insurance company. Completed in 2021, Market Station features 225 apartments split into two residential concepts, Fourteen45 and The Flats; 126,000 square feet of office space that is 70 percent leased; 52,000 square feet of retail space; and 320 mechanically stacked parking stalls. The residential components offer studio, one- and two-bedroom units, a fitness center, two clubhouses, a rooftop terrace with pool and grills, outdoor dog runs and dog washing stations. The retail portion wraps around the entire property and features a collective of like-minded sellers that share a passion for the outdoors, along with some traditional retail concepts.
AURORA, COLO. — JAGreen Development (JAG), in partnership with an affiliate of New York-based Raith Capital Partners, has acquired 157 acres in Aurora for the development of AEROS Logistics Center, a Class A industrial park. AEROS Logistics Center will feature 2 million square feet of logistics, distribution, manufacturing, construction and data center space. Tenants will have the option to buy or lease from the property. The park could accommodate two 1 million-square-foot, east/west-facing, cross-dock buildings, or it could be divided into smaller parcels. Aaron Valdez, Alec Rhodes and Tyler Smith of Cushman & Wakefield represented JAG in the acquisition and will handle the marketing for AEROS.
COLORADO SPRINGS, COLO. — Pinnacle Real Estate Advisors has negotiated the sale of a 50,000-square-foot industrial building located at 980 Elkton Drive in Colorado Springs. The property traded for $6.9 million. The names of the seller and buyer were not released. Cody Stambaugh of The Morgan Stambaugh Group and Peter Sengelmann of The Diesch Sengelmann Team, both of Pinnacle Real Estate Advisors, represented the seller in the transaction.
LONGMONT, COLO. — Cantamar Apartments Associates has purchased a 126-unit multifamily property at 2205 Alpine St. in Longmont. An entity formed by DHI Communities sold the asset for $50 million. The buyer has renamed the 126-unit property as Alpine Prairie Village. Alpine Prairie Village features one-, two- and three-bedroom apartments with quartz countertops, multiple closets and modern lighting. Community amenities include open spaces; a game lounge with private seating and shuffleboard; outdoor gaming area with corn hole and ladder golf; fitness center; outdoor bar and grill; hot tub; pet spa; and co-working space with private offices. David Fogler and Steven Nicoluzakis of Cushman & Wakefield’s Multifamily Advisory Group represented the buyer in the transaction.
DENVER — Blue West Capital has brokered the sale of Park Hill Shops, a three-tenant retail property located in Denver. A Colorado-based real estate investment company sold the asset to a local 1031 exchange investor for $3.4 million. Robert Edwards and Tom Ethington of Blue West Capital represented the seller in the deal. Located at 2245 Kearney St., the 9,160-square-foot building was originally built in the 1950s as a movie theater.
COLORADO SPRINGS, COLO. — Tepuy Properties has purchased a three-story office building located at 5825 Delmonico Drive in Colorado Springs. DCP Delmonico LLC sold the asset for $7.9 million. Built in 1985, the 38,638-square-foot property was 90 percent occupied at the time of sale by eight tenants, including USA Triathlon. Eric Rutherford of WK Estate represented Tepuy Properties, while Matt Call of NavPoint Real Estate Group represented the undisclosed seller in the transaction.