DENVER — Summit Communities has purchased Boulder Crossroads Apartments, a multifamily property in Denver, for $55.5 million, or $172,360 per unit. The name of the seller was not released. Built in 1970 at 7500 Dakin St., Boulder Crossroads offers 322 apartments. The buyer plans to execute a strategic value-add renovation program at the property, which was lightly renovated prior to sale. Bill Morkes and Craig Stack of Colliers International represented the seller and procured the buyer.
CASTLE ROCK, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a retail property located at 970 Park St. in Castle Rock. The building traded hands for $2.6 million, or $237.82 per square foot. Located on a corner lot, the 11,143-square-foot property is situated on a lighted interchange and offers flexible zoning allowing for multiple uses. The building was constructed in 2005. Robert Lawson and Jamie Mitchell of Pinnacle Real Estate Advisors represented the undisclosed seller in the deal. The name of the buyer was not released.
COLORADO SPRINGS, COLO. — USA Triathlon of Colorado has completed the disposition of a three-story office building located at 5825 Delmonico Drive in Colorado Springs. Dormie Capital Partners acquired the asset for $4.6 million. The buyer plans to modernize the 40,084-square-foot building’s common areas and add amenities to serve its tenant roster, which includes USA Triathlon of Colorado. Brian Wagner and Mark O’Donnell Jr. of Newmark represented the seller in the deal.
CENTENNIAL, COLO. — The Garrett Cos. has completed the disposition of The Mezz at Fiddlers Green, an apartment community located 6440 S. Syracuse Way in Centennial. Sunroad Enterprises purchased the newly constructed property for $47.8 million. Dan Woodward, David Potarf and Matt Barnett of CBRE Capital Markets in Denver represented the seller, while Rocco Mandala of CBRE’s Phoenix office secured financing for the buyer. Situated on 3.5 acres within the Denver Tech Center, The Mezz at Fiddlers Green features 149 apartments in a mix of one-, two- and three-bedroom units with open-concept layouts, designer white cabinetry, granite countertops, plank flooring, crown molding, stainless steel appliances and tile backsplashes. The community offers a 1,600-square-foot fitness center, bike repair station, bike racks, electric vehicle charging stations, outdoor kitchen, firepit, pet grooming area and rentable storage rooms. Additionally, the property features a pool with sun shelf, spa and cabanas, which receive poolside delivery service from I.C. Brewhouse, an on-site restaurant that was included in the transaction.
COLORADO SPRINGS, COLO. — NorthPeak Commercial Advisors, formerly AQYRE REA, has brokered the sale of Cedar Ridge Apartments in Colorado Springs. Keith Hardy, Joe Hornstein and Scott Fetter of NorthPeak represented both undisclosed parties in the $5.1 million, or $105,102 per unit, transaction. Located at 3349-3363 E. Fountain Blvd., the 42,580-square-foot community features 49 apartments.
JOHNSTOWN, COLO. — Marcus & Millichap has arranged the sale of Johnstown Plaza, a shopping center located at 4914 Thompson Parkway in Johnstown. A private developer sold the asset to an undisclosed buyer for $6.2 million. Built in 2017, the property features 15,140 square feet of retail space. At the time of sale, the center was 100 percent occupied by Bad Daddy’s, Visionworks, Sprint, Berry Blendz, LUX NailBar and Honolulu Poke Bar. Ryan Bowlby and Drew Isaac of Marcus & Millichap represented the seller in the deal.
GUNNISON, COLO. — Marcus & Millichap has directed the sale of Days Inn & Suites, a hotel located in Gunnison. An out-of-state private investor acquired the hotel from a private investor for $2.2 million. Built in 1983, Days Inn & Suites offers 44 guest rooms. Located at 701 US-50, the hotel is approximately 0.25 miles from the Gunnison-Crested Butte Regional Airport. Allan Miller, Chris Gomes and Michael Fasano of Marcus & Millichap handled the transaction.
COLORADO SPRINGS, COLO. — Cushman & Wakefield has arranged the sale of an office property located at 1670 Newport Road in Colorado Springs. Cleveland-based Boyd Watterson Asset Management acquired the asset from Denver-based Flywheel Capital for $11 million. Located at 1670 Newport Road, the 67,640-square-foot, multi-tenant property recently underwent interior renovations, as well as significant improvements to select tenant spaces. Aaron Johnson, Jon Hendrickson and Mitch Veremeychik of Cushman & Wakefield’s Denver Capital Markets team represented the seller in the transaction.
LAFAYETTE, COLO. — AQYRE Real Estate Advisors has facilitated the sale of Baseline Village Apartments in Lafayette. The property traded hands for $12.5 million, or $357,143 per unit. The names of the buyer and seller were not released. Matt Lewallen of AQYRE represented the buyer and seller in the deal. Located at 811-813 E. Baseline Road, the 47,236-square-foot Baseline Village features 35 apartments.
BOULDER, COLO. — Tritower Financial Group has completed the disposition of 3200 Walnut, a four-building interconnected campus located at 1825, 1865, 1885 33rd St. and 3200 Walnut St. in Boulder. Invesco Real Estate acquired the asset for an undisclosed price. The tenant — formerly Array BioPharma, which Pfizer acquired in 2019 — has occupied the 151,384-square-foot campus for 19 years. John Jugl of Newmark represented the seller in the deal.
