Colorado

EverWest Buys Two-Building Industrial Spec Project in Colorado, Plans Additional Expansion

by Amy Works July 23, 2020

THORNTON, COLO. — EverWest Real Estate Investors, in a joint venture with Invesco, has acquired a two-building speculative industrial project located at 14901 N. Washington St. in Thornton. RE II Industrial II sold the property, which fronts Interstate 25, for an undisclosed price. The acquisition includes an adjacent, pad-ready site where EverWest, serving as developer, plans to build a 121,000-square-foot Class A industrial building. The new facility will complement the existing 219,000 square feet of speculative industrial space at the site, which also includes 46.4 acres of undeveloped land. With the undeveloped land, EverWest has the option to build a second and third phase totaling an additional 590,000 square feet of new industrial space.

July 23, 2020

Colorado Development Industrial Office Retail Western

St. John Properties Buys Land Site for 600,000 SF Simms Technology Park in Broomfield, Colorado

by Amy Works July 22, 2020

BROOMFIELD, COLO. — Baltimore-based St. John Properties has acquired 81 acres of land in Broomfield for the development of Simms Technology Park, a $95 million mixed-use business park project. Brocade Communications Systems sold the development site for an undisclosed price. Located at the intersection of North Simms Street and West 112th Avenue, the 600,000-square-foot Simms Technology Park will comprise two multi-story, Class A office buildings offering 200,000 square feet; five single-story office buildings totaling 150,000 square feet; six R&D/flex buildings totaling 220,000 square feet; an 8,000-square-foot retail building; and four pad sites suitable for multiple retail tenants. St. John Properties plans to initially break ground on the single-story office and R&D/flex buildings in early 2021, with delivery of the first building slated for late 2021. The rest of the development will be delivered in phases.

July 22, 2020

Acquisitions Colorado Office Western

Ramshorn Investments Acquires Tech V Office Building in Colorado Springs for $7.9M

by Amy Works July 21, 2020

COLORADO SPRINGS, COLO. — Ramshorn Investments has purchased Tech V, an office property located in Colorado Springs. Tech V LLC sold the asset for $7.9 million. Located at 5475 Tech Center Drive, Tech V features 54,174 square feet of office space. Taylor Stamp of Quantum Commercial Group represented the seller, while Michael Palmer and Paul Palmer, also of Quantum Commercial, represented the buyer in the deal.

July 21, 2020

Acquisitions Colorado Net Lease Retail Western

Marcus & Millichap Arranges $6.9M Sale of Three-Property Brakes Plus Retail Portfolio in Colorado

by Amy Works July 20, 2020

AURORA AND HIGHLANDS RANCH, COLO. — Marcus & Millichap has arranged the sale of a three-building retail portfolio in Colorado. Chi Chis of Colorado Springs LLLP sold the portfolio to The Kathleen Ann Ross Trust, a local private capital investor, for $6.9 million. The properties are located at 16770 E. Iliff Ave. and 24550 E. Smoky Hill Road in Aurora and 9297 S. Broadway in Highlands Ranch. Brakes Plus occupies each building and all three properties have 17 years remaining on the primary term of their absolute triple-net leases. Drew Isaac and Brian Bailey of Marcus & Millichap represented the seller in transaction.

July 20, 2020

Acquisitions Colorado NAI Retail Western

NAI Shames Makovsky Arranges $1.6M Sale of Retail Property in Colorado

by Amy Works July 17, 2020

ARVADA, COLO. — NAI Shames Makovsky has arranged the sale of retail building located at 5805 Independence St. in Arvada. RHB Arvada sold the property to JBM20 for $1.6 million. The building features 1,808 square feet of retail space. Jake Malman and Evan Makovsky of NAI Shames Makovsky represented the buyer in the deal.

July 17, 2020

Acquisitions Colorado Net Lease Retail Western

Stan Johnson Arranges $2.4M Sale of Childhood Education Facility in Littleton, Colorado

by Amy Works July 16, 2020

LITTLETON, COLO. — Stan Johnson Co. has brokered the sale of a retail property located at 6000 Grant Ranch Blvd. in Littleton. A California- and Colorado-based family partnership sold the property to BAF Associates, a Maryland-based private investor, for $2.4 million. Knowledge Beginnings, one of several brands under the KinderCare Education group, occupies the single-tenant, 10,400-square-foot property on a net-lease basis. Kelly Largent of Stan Johnson Co. represented the buyer, while Mike Matter and Milo Spector of Stan Johnson Co. represented the seller in the transaction.

July 16, 2020

Acquisitions Colorado Industrial Western

Berkeley Partners Buys 411,485 SF Industrial Property in Colorado for $49M

by Amy Works July 15, 2020

LOUISVILLE, COLO. — Berkeley Partners has acquired a multi-tenant industrial building located at 333-335 Centennial Parkway in Louisville. DPC Cos. and Long Wharf Capital sold the asset for $49 million. Situated on 24.9 acres, the 411,485-square-foot building features dock-high and drive-in loading, heavy power, sprinklers, 28-foot clear heights, ample parking and fiber connectivity. At the time of sale, the building was fully leased to six tenants. Last year, the property underwent building improvements, including a new roof, improved entries, an updated façade and new monument signage. The building was originally constructed in 1995. Tyler Carner, Jeremy Ballenger, Jim Bolt, Jessica Osternick and Jeremy Kroner of CBRE’s Denver and Boulder, Colo., offices represented the sellers.

July 15, 2020

Colorado Loans Multifamily Western

Merchants Capital Arranges Bridge Loan for 148-Unit Workforce Housing Complex in Aspen, Colorado

by Amy Works July 14, 2020

ASPEN, COLO. — Merchants Capital has provided a three-year bridge loan for Centennial Aspen, a 148-unit workforce housing community located in Aspen. The acquisition of the property is financed through Merchants Bank of Indiana on behalf of Birge & Held Asset Management. Merchants Capital intends to further provide long-term, permanent financing for the project either through Fannie Me or Freddie Mac’s preservation platforms and through a syndication of new tax credits via Fannie, Freddie or HUD. Situated at the base of Smugger Mountain at 100 Luke Short Court, Centennial Aspen features a land use restriction agreement that requires 100 percent of the rental units to be workforce housing. Built in 1986, the 11-building, three-story property features a mix of studio, one-, two- and three-bedroom apartments with exterior entrances, exterior storage units and electric heat. Community amenities include an on-site laundry facility, office, a playground and assigned parking.

July 14, 2020

Acquisitions Colorado Retail Western

Marcus & Millichap Brokers $13.3M Sale of Durango Town Center in Colorado

by Amy Works July 7, 2020

DURANGO, COLO. — Marcus & Millichap has arranged the sale of Durango Town Center, a retail shopping center located in Durango. A private partnership led by David Spriggs of Denver-based DMS Real Estate sold the asset to a private local investor for $13.3 million. Ryan Bowlby and Drew Isaac of Marcus & Millichap represented the seller, while Brian Hagger, also of Marcus & Millichap, represented the buyer. Phillip Gause of Marcus & Millichap Capital Corp. placed financing on behalf of the buyer. Located at 1125, 1145 and 1185 S. Camino Del Rio, Durango Town Center features 41,781 square feet of retail space.

July 7, 2020

Vantage Data Centers Santa Clara Flagship

Acquisitions California Colorado Data Centers Development Top Stories Western

Vantage Data Centers, Colony Capital Agree to Form $3.5B Partnership to Grow Data Center Platform

by John Nelson July 7, 2020

DENVER AND LOS ANGELES — Data center developer and operator Vantage Data Centers has entered into a definitive agreement with an investor group led by Colony Capital Inc. (NYSE: CLNY) to form a $3.5 billion partnership that will expand Vantage’s data center platform in North America and Europe. The firms expect the agreement to be finalized toward the end of the month. As part of the agreement, the Colony-led investor group will invest $1.2 billion in Vantage’s portfolio, including 12 stabilized North American data centers that span more than 1.4 million gross square feet in Santa Clara, Calif.; Quincy, Wash.; Montreal; and Quebec City, Canada. Vantage’s management team, led by President and CEO Sureel Choksi, will continue to manage and operate these assets as part of its global data center footprint. The Colony-Vantage partnership will allow Vantage to develop and maintain top-performing data centers in new and existing markets. The Denver-based company has been expanding in Europe the past few months, entering Wales through its acquisition of data center campus Next Generation Data that was announced in April. Vantage also acquired data center provider Etix Everywhere in February. The deal included a data center under construction in Frankfurt, Germany. Vantage …

July 7, 2020

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