The Leader in Colorado Commercial Real Estate News Since 1992

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.

read more

Developer eyes spec office in Interlocken

18 May 2015 | Posted in Office, Denver Market, Boulder County & U.S. 36 Corridor, Hospitality
A Kansas City-based developer is proposing an approximately 190,000-square-foot speculative Class A office building in Interlocken Advanced Technology Environment. VanTrust Real Estate LLC bought 11.9 acres at 575 Interlocken Blvd. in Broomfield for $5.97 million, or $11.52 per sf. It will seek city approvals for a four-story office building and, possibly, a hotel. The development will be VanTrust’s first project in the Denver metro area. “We’re excited about t…

Streech finds gem: Site with outside storage

18 May 2015 | Posted in Industrial, Denver Market
Denver-based Streech Properties Inc. picked up a gem of a site for industrial development: 14.66 acres with outside storage at Interstates 225 and 70. Fronting I-225, the high-profile property at 3700 Xanadu St. could accommodate 250,000 square feet of industrial development in two buildings. Streech Properties’ Greg Streech is considering speculative product; however, “The challenge is we had build-to-suit proposals coming through the door even before we closed on it…

Hotel performance stellar; Denver better

18 May 2015 | Posted in Denver Market, Hospitality, Conferences
It’s good times in the nation’s hotel industry and even better for the Denver market. “Denver is doing phenomenally right now,” said Carter Wilson, director with Broomfield-based STR Analytics, an advisory firm to the hospitality industry. The metro area saw a 16 percent increase in revenue per available room in 2014. “That’s about double the national average,” said Wilson. Average occupancy hit a record 75.4 percent, compared with a reco…

Holland buys Ballantyne Apartments

18 May 2015 | Posted in Multifamily, Denver Market
Holland Residential recently paid $40.4 million for the 219-unit Ballantyne Apartments along the southeast corridor. The sales price equates to $184,475 per unit. The seller was Fairfield Residential, based in San Diego. Holland beat out a number of competitors for the apartment community at 10001 E. Dry Creek Road in unincorporated Arapahoe County. “We had double digit offers for it,” said CBRE’s David Potarf, who listed and marketed the property with fellow…

CBRE sells Shops at Walnut Creek

18 May 2015 | Posted in Retail, Denver Market, Boulder County & U.S. 36 Corridor
Illinois-based InvenTrust Properties Corp. recently paid $57.1 million for the Shops at Walnut Creek in Westminster. The sale is the latest sign of how hot the retail investment market is in the Denver area, said Brad Lyons, who marketed and sold the center with fellow CBRE teammates Ron Urgitus, Matthew Henrichs and Brady O’Donnell. A lot of buyers were interested in the center, Lyons said. Read the entire article in CREJ’s May 20 issue.

'First TOD' enjoys Renaissance

18 May 2015 | Posted in Retail, Denver Market
Mayfair is on the map. Literally, figuratively and with a growing cachet that could equal or rival many other trendy neighborhoods in Denver. Brad Buchanan, executive director of the Denver Community Planning and Development department, was recently looking at a map of the recently created Mayfair Business District. The BID runs along the East Colfax Avenue spine from Eudora Street to Monaco Parkway and includes businesses in the Mayfair Town Center at East 14th Avenue and Kram…

Retail spaces provide challenges for restaurants

18 May 2015 | Posted in Retail, Denver Market
Dave GoodePresident, David P. Goode Architecture, Castle Pines We have seen an explosion of restaurant and bar projects throughout Colorado over the last couple of years – in 2014, there were over 300 openings in the Denver metro area alone. This flurry of activity is carrying over into 2015 with dozens of openings each month. With so much activity and competition, the food service industry is finding new ways to attract customers. One way is to find and create a unique spa…

Fast-casual franchises spark retail market

18 May 2015 | Posted in Retail, Denver Market
The continuation of a strong market since the Great Recession has given the workforce flexibility with its money and, in general, people have been able to earn and save more. Now they are looking for investment opportunities in order to make a return on their money. Fast-casual restaurants are providing the opportunity and many have jumped on board. “People are more comfortable moneywise than they have been in several years,” said Matthew DeBartolomeis, vice president…

Due diligence: Why no one agrees on the color of the dress

17 May 2015 | Posted in Law & Accounting
Christine L. HayesDirector, real estate practice group, Senn Visciano Canges PC, Denver In February, the question, “What color is this dress?” became a heated debate of social media. People posted aggressive arguments about whether #thedress was blue with black lace or white with gold lace. Why the argument? The simple answer: People perceive colors differently.  Internet bloggers quoted myriad scientists, each explaining that our eyes and brain…

Construction partners named for Village at the Peaks

17 May 2015 | Posted in
NewMark Merrill Mountain States named a number of construction partners for its $90 million Village at the Peaks project in Longmont, where next month Sam’s Club will break ground – a year earlier than expected – on its new store.  The firm awarded contracts worth more than $4.3 million to eight different local companies for construction of the open-air retail destination being built on the grounds of the former Twin Peaks Mall. The local companies working …

Arista to add Class A medical office building

17 May 2015 | Posted in Medical/Medical Office
The first full-service Class A medical office building in the Arista development will start taking shape later this year. Wiens Real Estate Ventures and Venture Medical Holdings plan to build Arista Medical Office Building, a 68,000-square-foot, three-story medical office building at the mixed-use, transit-oriented, entertainment-anchored development located at the intersection of U.S. 36, Wadsworth Parkway and 120th Avenue in Broomfield. Plans currently call for construction to…

DU wins Rocky Mtn. Real Estate Challenge

8 May 2015 | Posted in Retail, Multifamily, Industrial, Office, Denver Market, Construction, Design & Engineering, Land, Economic Development
The University of Denver successfully defended its title at the Rocky Mountain Real Estate Challenge Thursday evening in Denver. DU’s Visionary Partners proposed The Link – a mixed-use development – for Westfield Cos.’ industrial property at 4120 Brighton Blvd., next to a commuter rail station in Denver’s fast-evolving River North neighborhood. Components included The Collaborative, a public space for local art, products and vendors; Restaurant Row; …

IBC's bet pays off with sale to Centura

4 May 2015 | Posted in Office, Denver Market, Medical/Medical Office
IBC Holdings’ bet on an empty office building in Panorama Business Park paid off with a $24.26 million sale to Centura Health. Centura paid about $151 per square foot for the 160,572-square-foot Class A building at 9100 E. Mineral Circle. The health care provider will consolidate corporate functions from multiple locations, bringing approximately 500 employees to the building. “We were pleased with the outcome. We appreciated working with Centura over several months,…

Hotels, office building ready to rise

4 May 2015 | Posted in Office, Denver Market, Boulder County & U.S. 36 Corridor, Hospitality
The transformation of a highly visible corner in Boulder has begun with the groundbreaking for a pair of hotels and a four-story office/retail building. NAI Shames Makovsky and Sage Hospitality will build some of the first new hotel rooms in the city in many years on the former Golden Buff property at the northwest corner of 28th Street and Canyon Boulevard, right across from the Twenty Ninth Street shopping district. The Embassy Suites and Hilton Garden Inn hotels will share a t…

Newest lease fills Prologis spec building

4 May 2015 | Posted in Industrial, Denver Market
A wholesale pet food supplier signed a lease for 131,399 square feet in a new industrial building at Stapleton Business Center North. Animal Pet Supply Co., which distributes pet food and supplies, has outgrown the 74,260 sf it occupies at 10432 E. 49th Ave. in Denver. It will relocate to 10000 E. 56th Ave. Prologis owns both buildings. With the Animal Supply lease, Prologis’ newest warehouse/distribution building, which is in the final stages of completion, is 100 percent…

Employee housing: Normal eviction procedure may not apply

4 May 2015 | Posted in Law & Accounting
William H. Eikenberry, Esq.Darling Milligan Horowitz PC, Denver Ski resorts, property management companies, apartment communities, motels, hotels and nursing homes all provide employee housing. However, when the employment relationship ends, in many cases not amicably, it becomes a safety concern for the employee to continue to live on site. For purposes including protecting the rights and safety of the employer’s patients, clients, customers or tenants, in 1997 the Colora…

Caliber Collision properties trade for $6M

4 May 2015 | Posted in Colorado Springs & Southern Front Range
An out-of-state buyer acquired a portfolio of three net-leased properties in Colorado Springs for $6 million. Spirit Master Funding IX LLC purchased the properties, each of which are under new, 15-year corporate leases with Caliber Collision, one of the largest collision center operators in the United States with more than 200 locations. “Caliber Collision is rapidly expanding in Colorado and around the country,” explained Troy Meyer of Sperry Van Ness. “Calibe…

New income tax rules: What you must know

3 May 2015 | Posted in Property Management
John Frack Regional director, KBKG, Pasadena, Calif. The Internal Revenue Service recently issued the final Tangible Property Regulations, which clarify when building owners need to capitalize expenditures as improvements and when they can immediately deduct them as repair expenses. For real estate owners who understand these new rules, the TPRs are mostly favorable and allow many to claim millions of dollars in previously missed deductions. However, the TPRs require additional e…

Property managers keen on standard improvements

3 May 2015 | Posted in Construction, Design & Engineering, Property Management
Katie BisgardSenior project manager, Kieding, Denver Do property managers feel compelled to toil over the smallest details like door hardware and ceiling tiles these days? After all, it’s clearly a landlord’s market and that is not changing anytime soon. Rental rates metrowide are at an all-time high. Tenants are competing for office space in a leasing environment hovering at 11 percent vacancy. Out-of-state investors are snapping up office buildings at above-market p…

ARA sells Parkview Place

3 May 2015 | Posted in Multifamily, Denver Market
A fast and fierce hail storm ripped through south Denver last September.        “Probably the hardest hit building in last year’s hail storm was the PeakView Place,” apartment community, said Terrance Hunt, a principal of the Denver office of ARA Grubb.        “It looked like a war zone,” Hunt said.        Siding was ripped off and windows were broken.  …