Colorado

Avison Young Negotiates Sales of Two Flex Buildings in Boulder Totaling $7.9M

by Amy Works November 13, 2020

BOULDER, COLO. — Avison Young has brokered the sales of two flex office assets — 7077 Winchester Circle and 5735 Arapahoe Avenue in Boulder. Different private investors acquired the buildings in separate transactions for a combined total of $7.9 million. At the time of sale, five tenants fully occupied the 26,418-square-foot property on Arapahoe Avenue, while a single tenant leased 84.4 percent of the 22,473-square-foot property on Winchester Circle. Jaimee Keene, Rick Egitto and Taylor Doyle of Avison Young’s Capital Markets Group in Denver represented the seller in the transactions.

November 13, 2020

Colorado Development Office Western

Flywheel Capital to Develop 210,000 SF Peak Technology Campus in Colorado Springs

by Amy Works November 11, 2020

COLORADO SPRINGS, COLO. — Flywheel Capital, a Denver-based commercial real estate investment company, has started development of Peak Technology Campus, a speculative office project in Colorado Springs. The 210,000-square-foot campus will offer secure-ready site for the aerospace and defense industrial. Situated within the 900-acre Peak Innovation Park business park, Peak Technology Campus will feature four single-story office buildings with full-floor and multi-tenant configurations, secure-ready sites with dedicated entries, building signage, loading docks, 4.5 parking spaces per 1,000 square feet and secured satellite area. Plans for the new development include a 50,000-square-foot Building 1, a 40,000-square-foot Building 2, a 60,000-square-foot Building 3 and a 60,000-square-foot Building 4. Construction for Building 1 is slated to start in first-quarter 2021, with delivery set for third-quarter 2021. Kenton Mau, Brian Wagner and Mark O’Donnell of Newark will market the property for lease. According to Newmark Research, Peak Technology Campus represents the largest speculative office development in Colorado Springs since 2001.

November 11, 2020

Acquisitions Colorado Multifamily Western

Nexus Commercial Arranges $5.3M Acquisition of Multifamily Property in Thornton, Colorado

by Amy Works November 11, 2020

THORNTON, COLO. — Nexus Commercial Realty has brokered the sale of an apartment community located at 8770-8780 Galen Court in Thornton. An undisclosed buyer acquired the asset for $5.3 million. The 38-unit property features 12 one-bedroom units and 26 two-bedroom units. The majority of the units have been updated, and select units feature balconies. The property includes two on-site laundry rooms and 54 off-street parking spaces for tenants. The buyer plans to manage the property, upgrade the remaining units and increase rents to market value.

November 11, 2020

Acquisitions Colorado Office Western

John Propp Commercial Negotiates $3.8M Sale of Office Building in Littleton, Colorado

by Amy Works November 10, 2020

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.

November 10, 2020

Acquisitions Colorado Multifamily Western

Local Buyer Purchases Blue Dot Place Apartments in Colorado Springs for $13M

by Amy Works November 9, 2020

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.

November 9, 2020

Acquisitions Colorado Office Western

CapRidge Partners Sells DTC Collection Office Portfolio in Southeast Denver for $28.7M

by Amy Works November 6, 2020

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.

November 6, 2020

Acquisitions Colorado Industrial Western

DAKA Properties Divests of Flex/Industrial Facility in Fort Collins for $4.7M

by Amy Works November 6, 2020

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.

November 6, 2020

Acquisitions Colorado Multifamily Western

Avanti Residential Sells Highland Way Apartments in Colorado to Summit Communities for $40.6M

by Amy Works November 5, 2020

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.

November 5, 2020

Acquisitions Colorado Industrial Office Western

CBRE Arranges Sale of 811,817 SF Rocky Mountain Center for Innovation and Technology in Loveland, Colorado

by Amy Works November 4, 2020

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.

November 4, 2020

Acquisitions Civic Colorado Office Western

Vintage City Church Buys 31,650 SF Property in Fort Collins, Colorado

by Amy Works November 2, 2020

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.

November 2, 2020

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