REBusinessOnline

Denver Industrial Market is Still Climbing

Denver’s industrial market has had an impressive run so far this economic cycle – so much so that the top-of-mind-question is, “Where do we go from here?” Last year was a prolific year, attracting new investors, delivering 4.5 million square feet of Class A space and posting the fifth straight year of sub-5 percent vacancy. But the outlook for 2017 is brighter given Denver’s strong economic foundation, the arrival of e-commerce users and delivery of much-needed warehouse …

Five Transformative Years Elevate Denver’s Office Market

The region is creating transformative projects that are substantially elevating the desirability of its office market five years into Denver’s strong development cycle. This trend — strongest in Denver’s Central Business District (CBD) and Southeast Suburban (SES) submarkets — is attracting a new breed of tenants to the Denver landscape. [caption id="attachment_181853" align="alignright" width="100"] Jamie Gard, Newmark Grubb Knight Frank[/caption] [caption …

Job Growth Encourages Industrial Development

Denver’s economic growth, its reputation as a commercial hub in the Rockies and the growth in e-commerce sales are all factors contributing to the metro’s strong industrial property performance. [caption id="attachment_182226" align="alignright" width="100"] Bob Kaplan, Marcus & Millichap[/caption] Denver employers are on track to add 39,000 new workers to their headcounts by year end, expanding the local workforce by 2.8 percent, with the professional and business services and …

Vestar Acquires Bowles Crossing Shopping Center Near Denver for $76.1M

LITTLETON, COLO. — Vestar has acquired Bowles Crossing, a 409,457-square-foot regional shopping center in the Denver suburb of Littleton, for $76.1 million. The 53.8-acre Bowles Crossing is one of the area’s top regional shopping destinations in the southwest Denver metro area. Tenants at the center include Trader Joe’s, DSW Warehouse, Ross Dress for Less, Gordmans and a newly renovated AMC Theatre. The center is located at 8055 W. Bowles Ave., at the northeast corner of Wadsworth …

Lancaster Pollard Hires Rob McAdams to Open Office in Denver

DENVER — Rob McAdams has joined Lancaster Pollard and will open a new office for the firm in Denver. McAdams will serve the lender’s clients in Colorado, Wyoming, Montana and Idaho and will oversee the structuring and funding of healthcare project financings for hospitals and senior living providers in those states. McAdams has been involved in investment sales and debt and equity structuring for the hotel and hospitality industry since 2005 and most recently served as a partner at U.S. …

Starwood, East West Partners to Build $190M Office Property in Denver

DENVER — Starwood Capital Group and East West Partners have announced plans to develop a $190 million office building in Denver’s Union Station neighborhood. The 250-foot-tall building will be known by its address, 16 Chestnut. The property will have frontage along both 16th and 17th streets. DaVite HealthCare Partners will be the first tenant. The kidney care provider will expand upon its current space, which is across the street. It will occupy about 265,000 square feet. DaVita …

Cardinal Group to Manage 9Seventy Near the University of Colorado at Boulder

BOULDER, COLO. — Cardinal Group Management will manage 9Seventy in Boulder, located on the east side of the University of Colorado at Boulder. The property is comprised of 138 units across five four-story buildings. Beginning in November 2015, 9Seventy will offer studio, one-, two- and three-bedroom apartment homes. The community will have a resident clubroom with kitchen, outdoor grilling area, views overlooking Chautauqua Park and the Flatirons, swimming pool, fitness center, …

Steadfast Apartment REIT Buys Two Denver-Area Apartment Buildings for $91M

AURORA, COLO. — Steadfast Apartment REIT has purchased two apartment communities in the Denver submarket of Aurora for a total of $91 million. The acquisition includes the 304-unit Bella Terra at City Center and the 360-unit Hearthstone at City Center. The garden-style Bella Terra is located at 15400 E. Evans Ave. It was built in 1980 and is currently 98 percent occupied. The community contains a mix of studio, one- and two-bedroom homes that contain an average of 676 square feet and an …

Investor Demand Outpaces Retail Property Listings in Booming Denver Metro

[caption id="attachment_133205" align="alignright" width="100"] Richard Bird, Marcus & Millichap[/caption]A booming Denver economy has strengthened the local real estate market, creating strong demand across all property sectors, including multifamily, housing, office and retail. The wealth effect stemming from robust employment and rising home values will specifically drive retail sales in the Denver metro this year. A thriving retail market will attract new tenants to the metro, and …

Colorado Springs Industrial Market Looks Positive

[caption id="attachment_131832" align="alignright" width="150"] Andrew C. Oyler, Quantum Commercial Group [/caption] The Colorado Springs industrial real estate market continues to rebound with a decrease in vacancy to 8.1 percent, an increase in the average asking rate to $6.19 per square foot (NNN) and a net positive absorption of 199,101 square feet. Along with these improvements, there has been a healthy number of owner/user acquisitions in the industrial market that has created a more …

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