LITTLETON, COLO. — John Propp Commercial Group has arranged the sale of an office property located at 8089 S. Lincoln St. in Littleton. RMTN Properties sold the asset to MVP 8089 Lincoln Land for $3.8 million, or $148.97 per square foot. Situated near Littleton Adventist Hospital and Highlands Ranch, the property features 25,802 square feet of office space. The buyer plans to occupy the third floor of the building. Joshua Cohen of John Propp Commercial Group represented the seller in the deal.
COLORADO SPRINGS, COLO. — Newmark has arranged the sale of Blue Dot Place, an apartment community located at 412 S. Nevada Ave. in Colorado Springs. Darsey Nicklasson and Kathy Loo sold the asset to Ray, Tim and Brian Rhodes for $13 million, or $393,393 per unit. Developed in 2016, Blue Dot Place features 33 apartments and three commercial spaces. The community was the first for-rent multifamily product built in downtown Colorado Springs since the 1960s, according to the broker. Saul Levy and Kevin McKenna of Newmark represented the seller in the transaction.
DENVER — CapRidge Partners has completed the disposition of The DTC Collection, a Class A office portfolio located in southeast Denver. TerraCap Management purchased the property for $28.7 million. Totaling 181,763 square feet, the two-building portfolio includes Terrace at Orchard Station, a three-story, 115,050-square-foot building at 5575 DTC Parkway, and a six-story, 66,713-square-foot building located at 4949 S. Syracuse St. Built in 1982 and renovated in 2008 and 2015, Terrace at Orchard Station features a conference center, locker rooms and showers, a structured parking deck and web-based service request system. The property on South Syracuse Street, which was also built in 1982, features a two-story atrium and an attached parking structure. Tim Richey, Charley Will, Jenny Knowlton and Chad Flynn of CBRE Capital Markets, Institutional Properties, represented the seller in the transaction. C.J. Kelly, Brady O’Donnell and Jeff Halsey of CBRE Capital Markets’ Debt & Structured Finance arranged acquisition financing for the buyer.
FORT COLLINS, COLO. — Fort Collins-based DAKA Properties has completed the sale of a flex/industrial property located at 825 SW Frontage Road in Fort Collins. Front825 acquired the asset for $4.7 million. Situated on 2.7 acres, the 30,012-square-foot property features large product showrooms, warehouse space and light manufacturing space. The property has been remodeled multiple times since originally developed, including 1989, 2004 and 2012. Jared Goodman of Cushman & Wakefield represented the seller, while Jason Ells of Cushman & Wakefield represented the buyer in the deal.
NORTHGLENN, COLO. — Denver-based Avanti Residential has completed the disposition of Highland Way, an apartment community located in Northglenn. Summit Communities acquired the asset for $40.6 million. Located at 11310 Melody Drive, the 155,890-square-foot property features 230 apartments in a mix of studio, one- and two-bedroom layouts spread across 10 buildings. Units offer fully equipped kitchens, open living and dining areas, walk-in closets and private balconies or patios. On-site amenities include storage lockers, a clubhouse, swimming pool, barbecue picnic area, playground, basketball court, private dog park and fitness center. David Potarf, Dan Woodward, Matt Barnett and Jake Young of CBRE Capital Markets in Denver represented the seller in the transaction.
LOVELAND, COLO. — CBRE has brokered the sale of Rocky Mountain Center for Innovation and Technology (RMCIT) in Loveland. Bowling Green, Ky.-based Cumberland & Western Resources sold the asset to RMCIT LLC for $15.5 million. Located at 815 14th St. SW, the four-building campus features 811,817 square feet of office and flex industrial space on 177 acres. At the time of sale, the property was leased to a variety of tenants, including Lighting eMotors (formerly Lightning Systems). The property features on-site fiber optic cabling and up to eight megawatts or power capacity. Additional features include secured fencing with controlled access points, ample parking, common and recreational areas, and trucking access on both upper and lower levels. The facility is equipped for both large- and small-scale shipping and receiving operations. Mike Eyer, Mike Camp, Julius Taber and Greg Haynes of CBRE represented the seller in the deal.
FORT COLLINS, COLO. — Vintage City Church has acquired 1501 Academy Court in Fort Collins for a total consideration of $4.1 million. The four-unit asset, totaling 31,650 square feet, was purchased in two separate transactions. The 19,177-square-foot Unit 1 was acquired from 1501 Academy LLC, while Units 2, 3 and 4, totaling 12,473 square feet, were purchased from Life Church. Relocating from 1825 Sharp Point in Fort Collins, Vintage City Church will utilize Unit 1 to serve as the church’s main gathering space and offices and Units 2, 3 and 4 as the church’s kids wing. The property is a two-story building with high visibility and monument signage along Prospect Road. Annah Moore of CBRE’s Fort Collins represented the buyer, while Matt Patyk represented 1501 Academy LLC in the transaction.
AURORA, COLO. — CentrePoint and CentreSquare have purchased Outlook Biscay, an apartment community located at 3382 S. Biscay Way in Aurora. Denver-based Evergreen Development sold the asset for $37.5 million. Built in 2019, Outlook Biscay offers 96 for-rent townhomes, averaging 1,210 square feet and spread across 20 two-story buildings. Each two- and three-bedroom unit feature a two-car, direct-access garage, private entrance, quartz countertops, stainless steel appliances and laundry rooms with full-size washers and dryers. Community amenities include a central leasing center, year-round swimming pool, dog wash and green areas. Jake Young, Dan Woodward, David Potarf and Matt Barnett of CBRE Capital Markets in Denver represented the seller in the deal.
COLORADO SPRINGS, COLO. — Nexus Commercial Realty has arranged the sale of The Townhouse Apartments, an 88,100-square-foot property located at 3125 E. Fountain Blvd and 1215 Shasta Drive in Colorado Springs. The community traded hands for $8.7 million. The names of the buyer and seller were not released. Built in 1965, the townhome-style property features 54 units in a mix of two- and three-bedroom layouts. Each unit includes a private yard, while some include second-floor balconies. The buyer plans to renovate the property and complete the unfinished basements to potentially add an additional unit to each townhome. Patrick Knowlton of Nexus represented the buyer and seller in the deal.
PARKER, COLO. — John Propp Commercial Group has arranged the acquisition of a two-building flex industrial property located at 10136 and 10140 Parkglenn Way in Parker. An undisclosed seller sold the asset to Parkglenn LLC, an investment group headed by John V. Propp, for $5.8 million. Built in 2016, the 27,611-square-foot property was fully leased to six tenants at the time of sale. John V. Propp of John Propp Commercial Group represented the buyer in the deal.