GLENDALE, COLO. — NXT Capital has provided a $45.6 million loan to finance the acquisition of Cherry Creek Plaza I & II, a two-building, Class B office park in Glendale. C.J. Kelly of CBRE Atlanta and Jeff Halsey of CBRE Denver placed the loan with NXT Capital for the undisclosed borrower. Located five miles from downtown Denver, the 335,000-square-foot asset features individual lobbies, two fitness centers, a deli, boardroom, classroom and three-story parking structure.
DENVER — AQYRE Real Estate Advisors has arranged the sale of an apartment building located at 2441 S. York St. in Denver. An undisclosed buyer acquired the property for $3.1 million, or $350.10 per square foot. Situated between the University of Denver campus and University Avenue, the 8,926-square-foot property features on-site parking and 17 apartments, with 13 units fully renovated. Joe Hornstein, Scott Fetter and David Barocas of AQYRE represented the undisclosed seller, while Matt Lewallen and Kevin Calame, also of AQYRE, represented the buyer in the deal.
BOULDER, COLO. — AGC Biologics has acquired a vacant, 300,000-square-foot pharmaceutical plant in Boulder from AstraZeneca. The Japan-based company plans to invest $100 million in the plant and create 280 jobs, according to multiple news outlets. The facility will provide AGC with additional capacity and significantly larger production scale. AGC expects to move into the facility in April 2021, 18 months sooner than it would take to build a new facility, according to the company. In February, the Colorado Economic Development Commission approved a tax credit on the property worth up to $6.4 million. AstraZeneca vacated the 20-acre property in January 2019, according to the Denver Post. The sales price was not disclosed, though the Boulder Daily Camera reports the property traded for $40 million. The Camera also reports jobs at the plant will pay an average of $96,253 per year. “This facility will enable us to continue to advance the development, manufacturing and commercial functions within our dynamic global company,” says AGC Biologics CEO Patricio Massera. Although the specific drugs and research planned for the facility were not disclosed, Massera made reference to “mammalian projects,” suggesting that animal research will take place there. The property is located at 5550 Airport …
AURORA, COLO. — Dalfen Industrial has purchased Aurora Center I at Gateway, an industrial property located near Interstate 70 and intermodal facilities in Aurora, between downtown Denver and the Denver International Airport. Built in 2003, the 75,000-square-foot asset features a fully gated secured truck court and 12 dock-high doors. Additionally, the property features unpaved land on the east side of the building that could be used as yard, additional trailer parking or as a potential 30,000-square-foot building expansion. Terms of the transaction, including the name of the seller and acquisition price, were not released.
DENVER — As retailers continue to face uncertain times during the COVID-19 pandemic, Denver-based Baceline Investments has shifted its focus to providing support and creating tools, resources and personal guidance for the small businesses of its 73 neighborhood shopping centers under management nationwide. The boutique private equity real estate investment and management company’s national portfolio currently includes 900 small business tenants. “We’ve taken an all-hands-on-deck approach to supporting our small business partners,” says Todd Laurie, partner and executive vice president of fund services for Baceline. “We’ve mobilized our company into task-force teams and support teams, and we immediately reached out to every small business tenant to offer guidance and assistance with securing government assistance loans.” Through guides and an online resource center, the company is providing tools and resources that include information on state-by-state, stay-at-home orders, financial relief and loan resources, social distancing and sanitation measures, marketing templates and initiatives to support businesses as they reopen. Additionally, Baceline is offering information regarding protection against coronavirus phishing attempts, tenant stipends to assist in purchasing barrier and PPE supplies, including sources for exclusively discounted sneeze and cough shields, as well as five industry-specific reopening handbooks for fitness centers, salons and spas, retail, …
COLORADO SPRINGS, COLO. — The Denver office of Scannell Properties has completed the sale of an industrial property located at 2640 Zeppelin Road in Colorado Springs. Walnut Creek, Calif.-based Nearon Enterprises purchased the asset for $14.6 million. Developed by Scannell Properties and completed last year, the 99,960-square-foot property is a multi-tenant distribution center leased to Geary Pacific Corp. and a national home improvement retailer. The building features 30-foot clear heights, ESFR sprinklers, dock-high and drive-in loading, LED lighting and a front-park, rear-load design. Situated in east Colorado Springs, the property is three miles from the Colorado Springs Airport and seven miles from downtown Colorado Springs. The building is located within a larger business park that will consist of four buildings at full build-out. Tyler Carner, Jeremey Ballenger, Jim Bolt and Jessica Osternick of CBRE’s Denver office represented the seller in the deal. Scannell Properties is a privately owned commercial real estate developer that has completed 328 built-to-suit or speculative development projects exceeding 63 million square feet in 44 states and three Canadian provinces.
DENVER — United Properties has sold Enterprise Business Center Building Six, a 647,483-square-foot industrial building in Denver’s Northfield neighborhood. An undisclosed investor advised by Zurich Alternative Asset Management LLC (ZAAM) acquired the asset for $85.7 million. Denver-based Beverage Distributors Co. LLC fully leases the property. The tenant’s parent company, Breakthru Beverage Group, distributes wine, spirit and beer brands and has distribution centers in 12 states, Washington, D.C. and Canada. The property is situated at 3980 Central Park Blvd., eight miles east of downtown Denver. Building Six is part of the 38-acre, 2 million-square-foot Enterprise Business Center, which comprises seven total buildings. All seven buildings are fully leased. “Its physical and locational merits are obvious,” says Sean Bannon, managing director and head of U.S. real estate for ZAAM. “What we found equally compelling was the recession-resiliency of the tenant. We anticipate holding this asset for the long term.” In 2017, United Properties built Building Six, which includes warehouse space, nearly 84,000 square feet of office and showroom space plus 70,000 square feet of climate-controlled cooler space. The center can accommodate 1 million cases of product. It also has a west-facing roof deck with unobstructed mountain views and the “Alchemy Room” for beverage …
AURORA, COLO. — CBRE has negotiated the sale of a distribution facility located at 15800 E. 40th Ave. in Aurora, about 10 miles east of Denver. Serta Simmons Bedding sold the property to Dallas-based Dalfen Industrial for $7.1 million. Built in 2003 for Serta’s own operations, the 75,000-square-foot building features a fenced, secure loading area, ESFR sprinklers, dock-high and drive-in loading, 24-foot clear heights, radiant heat throughout, mechanical pit levelers, dock lights and seals, skylights and an air exchange system. Additionally, the facility features 6,500 square feet of office space. Todd Witty and Doug Viseur of CBRE’s Denver office represented the seller in the transaction.
DENVER — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities in the Denver metro area and a third in Eastern Colorado. The portfolio totals 250 skilled nursing beds, as well as 25 assisted living units. LTC Properties sold the assets as part of its plan to divest all its Preferred Care-branded communities. The buyer is a private company looking to expand its presence in Colorado, as well as its relationships with its third-party operators in the state. The price was not disclosed.
BROOMFIELD, COLO. — Sacramento, Calif.-based Oakmont Properties has purchased Fusion 355, an apartment property located at 355 Eldorado Blvd. in Broomfield’s Interlocken neighborhood. Stockton, Calif.-based AG Spanos sold the asset for $90 million. Built in 2019, Fusion 355 features 286 apartments in a mix of apartment and townhome floor plans with in-unit washers/dryers, ceiling fans, storage units, vaulted ceilings and hardwood flooring. The 256,376-square-foot property is a controlled access, smoke-free community with a 24-hour fitness center; yoga studio; dog park; media and game rooms; elevator access; bike storage; a heated swimming pool with spa and Baja deck; community garden; 400 parking spaces; and private garages. At the time of sale, the property was 85 percent leased. Dan Woodward, David Potarf and Matt Barnett of CBRE Capital Markets Denver represented the seller, while Marc Ross of CBRE’s Sacramento office represented the buyer in the transaction.
