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Every reporter on our staff has covered Colorado commercial real estate news for more than a decade, through the highs and lows in the commercial real estate cycle.

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NAIOP Rocky Mtn. Real Estate Challenge up & running

23 January 2015 | Posted in Industrial, Denver Market
The 13th annual NAIOP Rocky Mountain Real Estate Challenge kicked off Thursday with a tour of and presentation of the 14-acre Midtown Industrial Center in Denver’s flourishing River North neighborhood. Graduate students from the University of Colorado and University of Denver will spend the next few months creating development proposals for the site at 4120 Brighton Blvd., which includes 368,000 square feet in three 1950s industrial buildings owned by Westfield Development.…

HFF arranges $57 million loan for RedPeak

22 January 2015 | Posted in Multifamily, Denver Market, Finance & Appraisal
       HFF announced today it arrange $57 million in financing on behalf of Denver-based RedPeak Properties for its recently completed One City Block apartment community in the Uptown area of Denver.        The 302-unit One City Block, completed this month, already is 95 percent leased.         HFF placed the fixed-rate loan with Cornerstone Real Estate Advisers LLC . acting on behalf of an…

BMC pays $72 million for apartments

19 January 2015 | Posted in Multifamily, Denver Market
Denver-based BMC Investments paid a total of $72 million for two areal apartment communities. BMC purchased the 504-unit Aurora Meadows Apartments at 777 Dillon Way in Aurora and the 461-unit Lakeview Apartments at 3791 W. 66th Ave. in Westminster. The seller, in the off-market transaction, was Belgarde Enterprises of Minneapolis. Records show that Belgarde paid $4.4 million for Lakeview in 1993 and $7.65 million for Aurora Meadows in 1994.  BMC will oversee a multi-milli…

Lone Tree Medical Plaza trades for $24.25M

19 January 2015 | Posted in Denver Market, Medical/Medical Office
Healthcare Trust of America Inc. recently purchased the Lone Tree Medical Plaza for $24.25 million, or more than $344 per square foot, according to public records.  The three-story medical office building, located at 9695 S. Yosemite Drive in Lone Tree, comprises 70,470 sf. Constructed in 2007, the building features covered parking, covered patient drop off, gurney-sized elevators, antivibration floors, column-free spaces and redundant HVAC. It also is near Sky Ridge Medica…

Springs apartments sell for $88.8 million

19 January 2015 | Posted in Multifamily, Colorado Springs & Southern Front Range
A Denver-based multifamily investment and management firm is keeping true to its plans to be “always buying, always selling” with its recent dispositions of a pair of Colorado Springs apartment properties. Griffis Residential sold the Sagebrook and The Oasis in separate transactions to an unidentified Boulder-based buyer and Steadfast Apartment REIT, respectively, for $88.8 million. Sagebrook, located at 2555 Raywood View, sold for $48.8 million. The 314-unit, Class …

Development boom reveals 'troubling shift'

19 January 2015 | Posted in Multifamily, Denver Market, Construction, Design & Engineering
Jeff Sheppard, AIA Cofounder and design principal, Roth Sheppard Architects, Denver The rapid growth of Denver's residential urban core is on most everyone's radar today, yet as our city's unprecedented development boom continues unabated, a troubling shift has begun to reveal itself to all but the most casual observer. As downtown Denver becomes increasingly dense with block after block of repetitive five-story, stick-framed rental apartment…

Denver TOD Fund gets regional expansion

19 January 2015 | Posted in Multifamily, Denver Market
Transit-oriented development is a topic that’s been covered, and maybe in some cases over covered, but as long as Denver continues to expand public transit, the TOD buzz remains relevant to real estate professionals. According to Brad Weinig, TOD program director at Enterprise Community Partners, in most urban areas, including Denver, transportation is the second highest household expense after housing. This realization helped lead to the creation of Denver’s TOD Fund…

Karcher leases headquarters building

19 January 2015 | Posted in Office, Denver Market, Economic Development
A global company will make a big statement in Denver with a move to a high-profile building near Denver International Airport. Kärcher North America leased an 87,000-square-foot Class A office building at Interstate 70 and Peña Boulevard for its North American headquarters. The building at 4555 Airport Way is next to Prologis’ operational headquarters, and, like Prologis, Kärcher will have building signage that announces its presence to people heading into …

Cobalt portfolio sale includes Denver assets

19 January 2015 | Posted in Industrial, Denver Market
More than a million square feet of industrial real estate in Denver changed hands as part of Colony Financial Inc.’s acquisition of Cobalt Capital Partners. The $1.6 billion transaction included 256 primarily light-industrial assets comprising more than 30 million sf across 16 major U.S. markets. There were eight Denver assets totaling 1.13 million sf, according to CBRE Executive Vice President Jim Bolt, who handled the local properties. Bolt said there was considerable na…

CapRidge buys pair of DTC office assets

19 January 2015 | Posted in Office, Denver Market
CapRidge Partners, which recently acquired its first asset in Denver, has added two more southeast suburban office buildings to its portfolio. Austin-based CapRidge paid $24.05 million to CBRE Global Investors for The Terrace Building at 5575 DTC Parkway in Greenwood Village and 4949 S. Syracuse St. in Denver, according to public records. “We think they are very nice properties in great locations, and they also have a lot of upside potential with some additional attention …

Murphy's Chase closes flurry of loans

18 January 2015 | Posted in Denver Market, Finance & Appraisal
Catherine Murphy of Chase, in a flurry of recent deals, arranged about $28.5 million in loans for the acquisition and refinance of apartment deals.       Most of the 17 transactions were in Denver.       All but one of the loans carried interest rates below 4 percent. All of the loans were amortized over 30 years.       The single largest loan was for about $4.65 million for the purchase…

Dr. Asher buys apartment community

18 January 2015 | Posted in Multifamily, Denver Market
Dr. W.L. Asher runs a weight loss clinic in Littleton.       But through his Asher Investments, he also has been an avid investor in apartments in the Denver metro area since the 1970s.       Late last year, Asher Investments purchased the 297-unit Alta Harvest Station from its developer, Wood Partners, for just under $64.5 million.       The sale price for the community at 11775 Wadsworth Boulevard, equ…

ARA sells latest in portfolio

18 January 2015 | Posted in Multifamily, Denver Market
Lowe Enterprises Investors of Los Angeles recently paid $51 million for the 360-unit St. Moritz apartment community in Lakewood.       The St. Mortiz, at 1724 Robb St., was sold by DiNapoli Capital Partners of San Jose.       “This was part of a four-property portfolio sold by DiNapoli, which is a high net worth, family partnership,” said Terrance Hunt.       Hunt represented DiNapoli in the …

Oil unlikely to dampen robust CRE market

13 January 2015 | Posted in Multifamily, Industrial, Office, Denver Market, Hospitality
The drop in oil prices has some folks in Denver’s office market feeling a little edgy, but the market isn’t likely to take a hit unless low prices extend for a long period of time. CBRE Managing Director Tim Swan, addressing the issue at NAIOP Colorado’s annual economic forecast in Denver Jan. 13, said energy companies will continue to operate at 2014 levels this year, doing everything they can to keep employees, “especially those who occupy office space.&…

Colorado Real Estate Journal has a new address

30 December 2014 | Posted in
The Colorado Real Estate Journal is proud to announce our new location at Hudson's Bay Centre. 1600 Stout St., Suite 1330Denver, Colo. 80202 303-623-1148www.crej.com

Stoltz buys Highlands Ranch office park

29 December 2014 | Posted in Office, Denver Market
Shea Properties sold a suburban office complex immediately adjacent to Highlands Ranch Town Center to a Pennsylvania-based group that’s been active in the Denver market. An affiliate of Stoltz Real Estate Partners paid $18. 5 million, or $134.73 per square foot, for Ridgeline Technology Center, according to public records. The asset consists of three one- and two-story office buildings totaling 137,316 sf. The buildings were 78 percent occupied. “Highlands Ranch is …

Google site search ends with $100M campus

29 December 2014 | Posted in Office, Denver Market, Boulder County & U.S. 36 Corridor, Economic Development
Developers knew they had a hit when they assembled 4.33 acres that Google picked for its new $100 million Boulder campus. The property at the southwest corner of 30th and Pearl streets sits catty-corner from the city’s transit village, across the street from a popular Whole Foods market and within a short walk of shops and restaurants at Twenty Ninth Street. “That was really the impetus in putting the deal together originally. It was an expensive site to assemble, bu…

Holualoa buys I-70 industrial portfolio

29 December 2014 | Posted in Industrial, Denver Market
An industrial portfolio on the Interstate 70 corridor spanning Denver and Aurora sold for $7.05 million, or $41.41 per square foot. Holualoa Cos. bought Airport Business Center at 6804 E. 48th Ave. in Denver and Gateway Plaza, located at 3370-3390, 3508 and 3538-3568 Peoria St. in Aurora. AEW Capital Management, an institutional owner, sold the portfolio in a deal handled by Colliers International broker T.J. Smith, Brad Calbert and Matt Keyerleber. The properties are leased to …

CREJ launches Office Properties Quarterly

28 December 2014 | Posted in Office, Finance & Appraisal
Office Properties Quarterly, a Colorado Real Estate Journal publication, launches this week. The quarterly publication will highlight and examine trends within the office property commercial real estate market. Each issue will feature information on a variety of topics specifically related to office properties, including leasing trends throughout the state, market drivers, case studies, design practices and more. In this inaugural issue, sections are devoted to the overall marke…

The energy industry's impact on Denver office properties

28 December 2014 | Posted in Office, Denver Market
The energy industry is an important player in the Denver office property market in this post-recession cycle. Energy helped strengthen the overall office market by driving up lease rates and pushing vacancies lower, said Jessica Ostermick, CBRE director of research and analysis. The total occupied footprint in downtown Denver of oil and gas companies is 4.45 million square feet, which is 20 percent of the occupied downtown market, she said. The year-to-date net energy sector…