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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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RiNo sale biggest so far

1 August 2015 | Posted in Multifamily, Denver Market
CWS Capital Partners added to its Denver-area portfolio by paying $72.5 million for the 301-unit The Yards at Denargo Market at 2797 Wewatta Way in RiNo, in the biggest apartment community sale so far this year in the increasingly popular River North neighborhood.       The sale equates to $240,864 per unit and $286.64 per sf. Read the rest of this article in the Aug. 5-18 edition of CREJ. CWS bought it from the developer, Austin-based …

Safeway-anchored center sells

1 August 2015 | Posted in Retail
Phillips Edison, based in Cincinnati, recently paid $15.5 million for the 103,883-square-foot Broadlands Marketplace in Broomfield.       The Safeway-anchored center, at West 144th Avenue and Lowell Boulevard, sits on 12.4 acres in the 820-acre, master planned Broadlands development.       The sales price equates to $149.21 per sf. Read the rest of this article in the Aug. 5-18 edition of CREJ.

Nate Gart called it

1 August 2015 | Posted in Denver Market
Nate Gart was right. “Nothin’ happens, if you don’t do nothin’,” Nate Gart, who founded the iconic Gart Sporting Goods in Denver in 1928, once said. Eight decades after the founding, Tom Gart, one of Nate’s grandchildren, pulled out the quote to help convince an institutional partner that investing in the Denver Pavilions, the retail anchor at the upper end of the 16th Street Mall, was the best course of action during the dark days of Great Re…

Apartment rents rise

29 July 2015 | Posted in Multifamily, Denver Market
Apartment rents continue to rise to record levels in the Denver area, according ot the second-quarter report released today by the   Denver Metro Apartment Vacancy and Rent Report, released today. “In 42 years I’ve not seen a market like this,” said Jeff Hawks of ARA Newmark  “Rents continue to rise edging in at $1.50 per square foot, but it’s a bargain when you consider the quality of location, the walkability factor, the services and am…

Haselden helps send kids back to school prepared

15 July 2015 | Posted in Denver Market, Construction, Design & Engineering
Haselden Construction has stepped up as a 2015 A Precious Child “Fill a Backpack” Partner and is hosting a backpack and school supply collection drive through Friday, Aug. 7. Individuals are encouraged to drop off new backpacks and school supplies at Haselden’s Centennial office, 6950 S. Potomac St., to help A Precious Child, a local nonprofit, reach its goal of sending 7,750 disadvantaged Colorado children back to school prepared and r…

Denver sees low vacancies, peak prices

14 July 2015 | Posted in Industrial, Office, Denver Market
The median asking lease rate for office space in Denver’s southeast suburban submarket has reached an all-time high of $26 per sf full-service, and the vacancy rate is at its lowest level in 15 years. But tenant demand isn’t what’s driving rental rate increases, according to Jeff Castleton, executive managing director of Newmark Grubb Knight Frank. “What’s happening southeast is investment activity is driving the increases in rental rates – no…

Rally Software building trades for $53.2M

13 July 2015 | Posted in Office, Denver Market, Boulder County & U.S. 36 Corridor
Rally Software’s headquarters achieved record pricing for an office building in Boulder, selling for $53.2 million – or a whopping $344 per square foot – according to public records. Houston-based Lionstone Investments bought the 154,624-sf building from MAVDevelopment on behalf of an institutional client. MAVD acquired the property in 2012 and just completed an 89,000-sf expansion for Rally. The building at 3333 Walnut St. is exceptional for Boulder in that it…

Local company makes TOD play

13 July 2015 | Posted in Office, Denver Market
A local group secured a conspicuous spot on the Aurora/Interstate 225 Rail line with its acquisition of The Forum for just over $83 per square foot. Denver-based Richardson Realty paid $14 million for the prominent, seven-story building at 14001 E. Iliff Ave. in Aurora. The deal offered it a rare chance to buy a Class B building near a future light-rail stop “We purchased the property primarily for its location to light rail. It is almost exactly four-tenths of a mile walk…

MIG Real Estate acquires Iliff Business Park

13 July 2015 | Posted in Industrial, Denver Market
An institutional-quality flex park off East Iliff Avenue and South Quebec Street in Denver traded for $12.2 million, or $93.31 per square foot MIG Real Estate, which owns a number of commercial properties in the Denver market, bought Iliff Business Park from a joint venture that included Dallas-based TriGate Capital and RLA Advisors of Costa Mesa, California. The 130,748-square-foot property was 86 percent leased when it was placed under contract and 90 percent leased at closing…

The graying of America's real estate

13 July 2015 | Posted in Finance & Appraisal
by Jay Rollins President and CEO, JCR Capital, Denver There is a historic phenomenon occurring, which is changing the face of commercial real estate, and few are doing anything about it. Right before our eyes, we are witnessing the greatest transfer of real estate assets in the history of our country. This transfer of assets is tied to middle-market commercial real estate and the ownership base of this real estate. The ownership base of middle-market assets is typically individ…

NexCore breaks ground on medical plaza

13 July 2015 | Posted in Mountain Towns/Gambling Towns, Medical/Medical Office
NexCore Group has broken ground on the first outpatient center in the Vail Valley to consolidate a full range of services under one roof. The health care real estate developer has started construction on Buck Creek Medical Plaza, a three-story, 50,000-square-foot facility off Interstate 70 at the Avon exit at 50 Buck Creek Lane in Avon. The building is designed to accommodate a full range of outpatient services, including primary and specialty physician care, diagnostic imaging …

Pueblo center sells for $407 per square foot

13 July 2015 | Posted in Retail, Colorado Springs & Southern Front Range
A retail center at one of the best locations in Pueblo sold at a price of $407 per square foot. A Northern Colorado-based private investor paid $3 million for the three-tenant retail center at 1425 U.S. Highway 50 West – a center that essentially functions as a net-leased asset. McAlister’s Deli, Papa John’s Pizza and Open MRI of Pueblo occupy the 7,371-sf center, shadow anchored by Lowe’s and Staples, where McAlister’s Deli is the primary tenant. …

CBRE sells Environs

11 July 2015 | Posted in Denver Market
Seagate Properties, based in San Rafael, California, recently paid $65 million for the 318-unit Environs apartment community in Westminster.          “We had a ton of offers. We had 15-plus offers,” said David Potarf, who handled the sale with fellow CBRE team members Dan Woodward, Matt Barnett and Brady O’Donnell.          Brady O'Donnell of CBRE's Debt and Structured Finance team …

First Bank finances Decatur Point

11 July 2015 | Posted in Multifamily, Denver Market
Before Adam Sands, a senior vice president at FirstBank approved the $30 million loan for the five-story, 203-unit Decatur Point apartment community, he checked out what else is happening in the Jefferson Park neighborhood where the $47 million project was planned.        “We look at (Decatur Point’s) site and at the other projects coming on line,” Sands said.        His team also checked out the leasi…

Broe's bold move with twin towers

11 July 2015 | Posted in Multifamily, Denver Market
When Pat Broe developed the 20-story Country Club Towers and Gardens about three decades ago, it was a visionary and bold move.       “It had been at least 10 years since any high-rise apartment had been built in Denver,” said Carl Luppen, of the Broe Real Estate Group.       “He was really visionary,” by building the 183-unit tower at 1001 E. Bayaud Ave., in the West Washington Park neighborhood.  &…

Buyer acquires first Colorado apt. community

29 June 2015 | Posted in Colorado Springs & Southern Front Range
A social impact real estate company acquired its first Colorado apartment community with its acquisition of the Advenir at Cheyenne Crossing. OpenPath Investments LLC of California paid $25 million, or $113,636 per unit, for the 220-unit, Class B apartment community, renamed Cheyenne Crossing Apartments, at 640 Wycliffe Drive in Colorado Springs. OPI, which organized and sponsored the deal, identifies existing rental apartment properties with value-add/operational upside in the …

Who owns a claim in a real estate investment entity?

29 June 2015 | Posted in Law & Accounting
Lars H. FullerCounsel, BakerHostetler, Denver It is not uncommon for real estate investors to invest both money and services as equity in a multiparty entity. The entity pools the money, utilizes the services and acquires more than the individual could have on his, her or its own. The investors use the entity to act on the collective behalf of the equity holders. The entity itself is governed under various rules set by contract, statute or case law, with the opportunity for signi…

Construction starts on RiNo mixed-use project

29 June 2015 | Posted in Denver Market, Construction, Design & Engineering
The burgeoning River North district continues to grow as work is underway to transform a former industrial site into a mixed-use project. Drahota – A Bryan Construction Co. was awarded a $9.5 million contract to replace the existing industrial space at 35th and Larimer streets with a three-story, mixed-use facility that will include 46 residential units as well as retail, office and restaurant spaces. The 75,000-square-foot project, being developed by Littleton Capital Par…

Stoltz picks up more brick & timber

29 June 2015 | Posted in Office, Denver Market
Stoltz Real Estate Partners has added 1730 Blake St. to its collection of brick-and-timber office buildings in Lower Downtown Denver. Stoltz paid $17.9 million, or $314.03 per square foot, for the 57,000-sf building that once housed Hedges-Atkins Supply Co. The building is the third LoDo asset Stoltz Real Estate Partners has acquired in just over a year, and it faced plenty of competition for it.   “The activity we had was tremendous. We generated close to 20 off…

Buyer makes off with Prairie Trail Business Park

29 June 2015 | Posted in Industrial, Denver Market
Investors circled the wagons when Prairie Trail Business Park came up for sale, and one of them made off with the property for $10.6 million. Woodspear Prairie Trail LLC, an affiliate of Woodspear Properties, paid $127.25 per square foot for the asset. Woodspear Director of Acquisitions Craig Lessard said the company likes the southeast suburban submarket and, “We really liked this opportunity because it was a combination of a nice going-in cap rate, which was a 7, and a n…