Colorado

Hyde, Mortenson Expand HighPoint Business Park by 274 Acres, Break Ground on Spec Building in Aurora

by Amy Works November 25, 2020

AURORA, COLO. — Hyde Development and Mortenson Properties have acquired 145 acres north of the existing 125-acre site of HighPoint Industrial and Logistics Business Park in Aurora, with plans to expand the project onto the new land. Details of the acquisitions were not released. The companies announced the development of HighPoint Logistics Park, a 2.2 million-square-foot industrial park near Denver International Airport, in February. Additionally, next month, the development team will add 129 acres to the project and break ground on the park’s first structure — Build 1, a 541,840-square-foot, Class A speculative building. Slated for completion in third-quarter 2021, Building 1 will features 36-foot clear heights, 50-foot by 54-foot column spacing, an ESFR sprinkler system, 92 dock-high and four drive-in doors, 68 trailer parking spaces and 273 parking spaces. With the recent and upcoming additions, HighPoint Park will eventually span 400 acres and offer up to 15 buildings totaling more than 5 million square feet at full build-out. While the full-site plan for HighPoint is still flexible, the initial plans include retail development through the middle of the park, along East 64th Avenue, providing walkable retail options for tenants and visitors. The development will also feature outdoor seating areas …

November 25, 2020

Acquisitions Colorado Industrial Western

Inland Real Estate Buys 151,668 SF Last-Mile Logistics Building in Metro Denver for $57M

by Amy Works November 25, 2020

THORNTON, COLO. — Oak Brook, Ill.-based Inland Real Estate Group has acquired a newly constructed last-mile logistics building in Thornton. The Opus Group sold the asset, which its Denver office developed in 2019, for $57 million. Located at 900 E. 128th Ave., the 151,688-square-foot facility features 30-foot clear heights, 24 dock-high doors, six drive-in ramped doors, surface parking and a three-level parking structure. At the time of sale, the property was fully leased to a single tenant as an e-commerce distribution facility. Will Strong and Greer Oliver of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the deal. Joe Krahn and Harper Davis, also of Cushman & Wakefield, provided leasing services for the property.

November 25, 2020

Colorado Loans Multifamily Seniors Housing Western

PGIM Real Estate Arranges $60M Freddie Mac Loan for Lincoln Meadows Senior Living in Parker, Colorado

by Amy Works November 23, 2020

PARKER, COLO. — PGIM Real Estate has arranged a $60 million Freddie Mac loan for the refinancing of Lincoln Meadows Senior Living in Parker. Trace Wilson of PGIM originated the transaction on behalf of Denver-based Spectrum Retirement Communities, which owns and operates the property. The floating-rate loan has a 10-year term, with five years of interest-only payments and a 30-year amortization. Located 20 miles south of Denver, Lincoln Meadows features 208 independent living, assisted living and memory-care units, a beauty salon, bistro, fitness center, resident lounges and movie theater, as well as 24-hour staffing for assisted living and memory-care residents. The breakdown of units includes 130 independent living units, 60 assisted living units and 18 memory care units.

November 23, 2020

Acquisitions Colorado Multifamily Western

Tower 16 Capital, Dune Real Estate Acquire 450-Unit Fairways at Lowry Apartments Near Denver

by Amy Works November 20, 2020

AURORA, COLO. — Tower 16 Capital Partners, in partnership with Dune Real Estate Partners, has purchased Fairways at Lowry Apartments, a multifamily property located in Aurora. A private seller sold the asset for an undisclosed price. Located at 9913 W. First Ave., Fairways at Lowry features 450 apartments in a mix of one- and two-bedroom layouts, a clubhouse, gym, swimming pool and playground. Tower 16 will oversee a $6.8 million improvement program that will modernize the apartments, create a new clubhouse and gym and update the pool area. Additionally, the buyers plan to add outdoor amenities, including barbecue areas, seating, outdoor gaming and a sports court. Terrance Hunt and Shane Ozment of Newmark represented the buyer and seller in the deal. Charlie Williams, also of Newmark, coordinated debt financing for the buyer.

November 20, 2020

Acquisitions Colorado Industrial Self-Storage Western

NitNeil Partners Acquires Self-Storage Facility in Metro Denver

by Amy Works November 19, 2020

BRIGHTON, COLO. — NitNeil Partners has purchased a self-storage property located at 850 Baseline Road in Brighton. Terms of the transaction, which is the company’s first acquisition in the metro Denver market, were not released. Situated 20 miles northeast of Denver, the single-story, drive-up facility features 450 self-storage units, totaling 64,850 rentable square feet. The property will operate under the CubeSmart brand.

November 19, 2020

Acquisitions Colorado Office Western

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

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