BRECKENRIDGE, COLO. — Birmingham, Ala.-based Southern Oak Capital and Green Rock LLC have acquired the Main Street Station retail condominiums in Breckenridge. The asset traded for $16.7 million. Built in 2002, the three-building property features more than 34,000 square feet of retail space and 22 tenants, including lululemon, local boutiques and restaurants.
AURORA, COLO. — Capstone has brokered the sale of Macon Flats, a five-building multifamily portfolio in Aurora. The asset traded for $7.1 million. The names of the seller and buyer were not released. Macon Flats features 56 one-bedroom units and one two-bedroom unit. The buyer plans to renovate the property to modernize the asset. Sean Holamon and Jason Koch of Capstone represented the seller and buyer in the deal.
AURORA, COLO. — EverWest Real Estate Investors has completed the disposition of a Class A distribution center located at 1953 N. Gun Club Road in Aurora. Terms of the transaction were not released. The mission-critical facility was built in 2012 as a build-to-suit for The Home Depot, which currently operates its Home Depot Pro business line out of the location. The 220,000-square-foot cross-dock building features 32-foot clear heights, 44 dock-high doors, low office buildout, ESFR fire protection, secure fencing and 15 trailer parking stalls. Additionally, the building has the potential to be expanded by 60,000 square feet and 24 additional trailer parking stalls on the east end of the 17.2-acre site. Krystal Arceneaux of EverWest directed the disposition and management of the asset. Trent Agnew, Larry Thiel and Carmon Hicks of JLL represented the seller in the transaction.
CASTLE ROCK, COLO. — Marcus & Millichap has arranged the purchase of Encore Castle Rock, a retail building located at 20 Wilcox St. in Castle Rock. A private investor acquired the property for $3 million. Cory Gross of Marcus & Millichap’s Denver office represented the buyer in the deal. Well State Healthcare is a tenant at the 8,297-square-foot property. The buyer plans to open a coffee shop and fitness facility at the building, according to Marcus & Millichap.
ARVADA, COLO. — High Street Residential and its joint venture partner CBRE Investment Management, on behalf of the CBRE U.S. Development Partners 5 fund, will develop The Residences at Olde Town Station, a multifamily community in Arvada. The four-story property will feature 252 units ranging from studio to two-bedroom layouts over two levels of structured parking. On-site amenities will include a fitness center, clubroom, lounge, rooftop deck, two courtyards with lounge seating and fire pits, a resort-style pool and a dog park. The Eisen Group is serving as architect and PCL Construction is the general contractor. Citizens Bank provided financing for the project. High Street Residential is Trammell Crow Co.’s residential subsidiary. Construction is slated to begin in early October with final completion scheduled for late 2023.
COLORADO SPRINGS, COLO. — KeyBank Real Estate Capital has secured a $40 million Freddie Mac loan for Hamilton Zanze, a San Francisco-based real estate investment company, for the acquisition of Enchanted Springs, an apartment property in Colorado Springs. Built in 2020, Enchanted Springs features 200 one-, two- and three-bedroom apartments spread across 10 three-story residential buildings. Community amenities include a pool, hot tub, sundeck, cabanas, grilling areas, fitness center and clubhouse lounge. Paul Angle and Nicholas Lynn of KeyBank Real Estate Capital structured the financing. The loan features a 10-year term with five years of interest-only payments followed by a 30-year amortization schedule.
CENTENNIAL, COLO. — Opus Development Corp. has purchased a 19.7-acre land site at 7801 S. Fairway St. within the Dove Valley submarket of Centennial. Heirborn Partners sold the parcel for an undisclosed price. Opus plans to develop The Ridge at Dover Valley, a two-building speculative industrial development, at the site. The 102,877-square-foot building will offer 26 dock positions, four drive-in doors and 210 parking stalls, while the 116,524-square-foot building will offer 26 dock positions, four drive-in doors and 250 parking stalls. Both buildings will be Class A industrial facilities featuring extensive glass and architectural design elements. Completion is slated for May 2022. Opus is the developer, design-builder, architect and engineer of record for the property. Todd Witty and Daniel Close of CBRE are marketing the buildings for lease. Rick Egitto of Avison Young represented the seller, while Witty represented the buyer in the deal.
ENGLEWOOD, COLO. — BlueScope Properties Group has completed the sale of a logistics center situated on 12 acres at 14353 E. Otero Ave. in Englewood, a suburb seven miles south of Denver. Terms of the off-market transaction were not released. Completed in 2021, the 136,915-square-foot building features 32-foot clear heights, 37 exterior dock doors, three drive-in bays, ESFR fire protection, office space and ample parking. The single-tenant building, which was vacant at the time of sale, also has a rear-loading configuration. Larry Thiel and Sean Devaney of JLL Capital Markets and Carmon Hicks with JLL Industrial Leasing represented the seller in the deal. Hicks, Chris Schultz and James McGill, also of JLL, are handling leasing for the new owner.
DENVER — Los Angeles-based Hybridge Capital Management, in partnership with Productive Capital Associates, has purchased The Villas, a 120-unit student housing community in Denver. Central Street Capital sold the asset for $40 million in an off-market transaction. Located at 2555 31st St., The Villas features 360 beds. The buyers plan to completely renovate the property and add a clubhouse, gym, pool and dog park to the community.
LAKEWOOD, COLO. — Gart Properties and Elkco Properties have completed the disposition of West Sixth Commerce Center, an industrial property located at 11111 West 6th Ave. in Lakewood. DocuVault acquired the asset for $17.8 million. DocuVault will occupy 52,877 square feet of the 154,950-square-foot building and lease the remaining space. The property features 32-foot clear heights and heavy power. Buzz Miller and Peter Beugg of Stream Realty Partners represented the seller, while Matt Capecelatro of Citywide Commercial Properties and Mark Dwyer of Lincoln Property Co. represented the buyer in the transaction.
