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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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Westone campus sells for $5.3m

31 August 2014 | Posted in Colorado Springs & Southern Front Range
A four-building industrial/research-and-development campus in Colorado Springs sold to a Denver-based group for $5.3 million. T Lowell & Sons LLC purchased the Westone campus from T B 5 Associates LLP. The property comprises 72,748 square feet at 2205-2266 Executive Circle, near the Interstate 25 and South Circle Drive interchange. The sale also included just over one acre of land. “The property achieved a 9.2 percent cap rate. It was very attractive,” said Randy…

Elsy Studios designs Merchant & Gould's new space

31 August 2014 | Posted in Construction, Design & Engineering
Merchant & Gould’s new space was designed to provide a modern twist on a traditional aesthetic. Denver-based commercial interior design firm Elsy Studios recently finished transforming the intellectual property law firm’s 22,000-square-foot space at 1801 California St. into a work environment that balances professionalism with a “sense of fun, elegance and edge.” “Merchant & Gould wanted a work environment that reflected our brand and appeal…

Relevance of a real estate license

31 August 2014 | Posted in Law & Accounting
Jon GoodmanShareholder, Frascona, Joiner, Goodman and Greenstein PC, Denver With the exception of management of residential real property, it is this author’s experience that the Colorado Division of Real Estate devotes few of its limited resources to shutting down the unauthorized practice of real estate brokerage, raising the question, “Why bother complying with the law?” That is, why should an unlicensed person invest his or her money and time in obtaining a …

Marketplace planned by Stapleton

29 August 2014 | Posted in Retail, Office, Denver Market
 Late next year, a Denver development group plans to open the Stanley Marketplace retail center in the former Stanley Aviation headquarters at 2501 Dallas St. in Aurora, just a few feet from the southern border of Stapleton.  Originally built in 1954, Stanley Aviation manufactured airplane ejector seats, and was founded by Bob Stanley, a noted inventor and engineer, and the first American to fly a jet aircraft.   The Stanley Mark…

EverWest pays $73.25m for Offices at Broadway Station

18 August 2014 | Posted in Office, Denver Market
A three-building office property at Interstate 25 and Broadway attracted a crowd of national and international investors before selling – according to public records – for $73.25 million. EverWest Real Estate Partners LLC, formerly Alliance Commercial Partners, bought The Offices at Broadway Station in Denver from Walton Street Capital. Walton Street had done a great job of repositioning the 318,053-square-foot property, according to John Jugl, who handled the deal wi…

Fitz hotel & conference center ready to go

18 August 2014 | Posted in Hospitality, Economic Development
A long-anticipated hotel and conference center across the street from the Anschutz Medical Campus is in the starting block. Corporex Colorado and the city of Aurora are days away from breaking ground on the Hyatt Hotel and Conference Center Aurora at Anschutz Medical Campus. The $80 million project will comprise 249 hotel rooms, a 30,000-square-foot conference center and a 500-space parking garage. “The hotel and conference center will provide benefits to patients, benefit…

Two Nine North shatters high per-unit price

18 August 2014 | Posted in Multifamily, Boulder County & U.S. 36 Corridor
Investors were all over a Boulder apartment community that sold for $93.5 million, shattering the record price per unit for a multifamily property in the Denver region. Two Nine North, a 238-unit community just north of the Twenty Ninth Street shopping and entertainment area, sold for $392,857 per unit, surpassing record per-unit prices for two properties in the Denver Union Station neighborhood. “We had over 115 qualified investors express an interest in the property du…

It is good to be a borrower in 2014

18 August 2014 | Posted in Finance & Appraisal
Brandon Rogers Principal, Terrix Financial Corp., Denver   In today’s debt market, lenders of all types – life companies, commercial mortgage-backed securities, federal agencies and banks – are all active, with 2014 loan volume outpacing 2013 and they expect the trend to continue in 2015. While most believe Treasuries will go up, opinions on what will happen to coupon interest rates vary, as do opinions regarding how the intense competition for loans will…

Semple Brown celebrates Next Door

17 August 2014 | Posted in Construction, Design & Engineering
Semple Brown Design with Kimbal Musk and Hugo Matheson, co-founders of The Kitchen and its offshoots Next Door and Upstairs, celebrated the opening of The Kitchen’s third Next Door location – Next Door Union Station. The firm, along with Matheson, designed the 4.250-square-foot restaurant situated inside of the south wing of Lower Downtown Denver’s historic Union Station. Renovation of the space was designed to revive the building’s history and significan…

'Strategic' Springs intersection set for retail

17 August 2014 | Posted in Retail, Colorado Springs & Southern Front Range
A 22.5-acre site at “ground zero” for activity in north Colorado Springs is set to sprout a retail center the could feature a hotel and grocery store. Chalon Properties Inc., a group made up of partners from Colorado Springs, California and New Mexico, recently paid $5.56 million for the property at the southwest corner of Interquest and Voyager parkways. Coosa Real Estate Investments LLC sold the land in one of the largest commercial land deals in the submarket in s…

Arvada redevelopment in works

17 August 2014 | Posted in Retail, Multifamily
A long neglected and deteriorating retail parcel in north Arvada is at long last moving toward a redevelopment into a walkable, mixed-use community.       The Arvada Urban Renewal Authority board last month chose the Indianapolis-based Buckingham Cos. as the master developer for the 14.5-acre Ralston Creek North—a substantial portion of the Ralston Fields Urban Renewal Area.       On the Buckingham team is Boulder-based Urb…

CityGate sells

17 August 2014 | Posted in Multifamily, Denver Market
A Chicago firm recently paid $52.06 million for one of the first apartment communities built in the increasingly trendy RiverNorth, or RiNo, neighborhood north of downtown Denver.       Mesirow Financial paid the equivalent of $216,017 per unit for the 241-unit CityGate apartment community at 2890 Brighton Boulevard.       The seller was Sares-Regis Group of Irvine, Calif.       Records show that Sares-R…

Verve sells

17 August 2014 | Posted in Multifamily, Denver Market
When the 10-story, 285-unit Verve, downtown Denver’s newest luxury apartment building, opened last month, Kim Sperry, managing director of Denver-based Amstar Group had this to say: “Verve is distinguishing itself from other apartment buildings by providing our residents with a unique sense of vitality and quality finishes.       Verve is what urban living is all about.”       That’s not the only way that …

Inspirato opening center in Cherry Creek

15 August 2014 | Posted in Denver Market
Inspirato, the Denver-based luxury destination club, announced today that it will open an interactive retail center in Cherry Creek Shopping Center on Wednesday.  Inspirato’s new member experience center in Cherry Creek Shopping Center will showcase the club’s growing portfolio of vacation residences and personalized service in a completely unique environment. It will be the first of five high profile locations planned to open across the country in the next…

Seniors housing: competitive funding landscape

4 August 2014 | Posted in Assisted Living/Senior Housing
Laura E. Clark Principal, S.B. Clark Companies Why is funding for affordable housing so competitive? What are the best strategies to be in a position to receive tax credits and other incentives? These are formidable questions for the robust challenge of developing affordable homes. S.B. Clark Companies has been providing financial consulting for affordable housing developers since 2001 and we have assisted our clients with applying for, receiving funding, and closing on multiple…

Southeast submarket goes spec

4 August 2014 | Posted in Office, Denver Market
Prime West Development Inc. is launching One Belleview Station, the first speculative Class A office building in the southeast suburban market in more than five years. The 310,000-square-foot building featuring ground-floor retail and restaurant space will be part of Belleview Station, a 42-acre transit-oriented development at the northwest corner of Interstate 25 and East Belleview Avenue in Denver. The 16-story office tower is a $90 million joint venture between Prime Wes…

Boulder company buys in Flatiron

4 August 2014 | Posted in Office, Denver Market, Boulder County & U.S. 36 Corridor
A 37,142-square-foot building in Flatiron Park sold for $4.84 million, or $130.31 per sf, and will be home to a Boulder technology company. Flatirons Solutions will occupy nearly all of the vacant 37,142-sf office building at 5755 Central Ave. in Boulder. Approximately 6,000 sf is available for lease. Flatirons Solutions currently is in 12,200 sf at 4747 Table Mesa Drive and 11,180 sf at 500 Discovery Parkway in Louisville. It will move into its new space in the third quarter. …

Trucking firms snag industrial properties

4 August 2014 | Posted in Industrial, Denver Market
Heavy-industrial-zoned properties suitable for trucking operations are in short supply, thus the competition for a facility on 6.2 acres in Commerce City. Celadon Realty LLC paid $2.75 million – or $155,000 more than the listed price – for the property at 9775 E. 97th Place. The buyer is an ownership entity of Indianapolis-based Celadon, a transportation and logistics company that had to buy two properties – the other a 42,600-square-foot truck terminal on seven…

Pinkard starts CSU revitalization project

3 August 2014 | Posted in Construction, Design & Engineering
Colorado State University with Pinkard Construction and 4240 Architecture recently began construction on the William O. Eddy Hall revitalization, a phased $12 million aesthetic and life-safety upgrade to the 51-year-old academic and office building. Construction cost for the 69,457-square-foot revitalization is $8.5 million. It includes new mechanical and electrical systems, remodel of existing bathrooms, new windows, exterior skin upgrades, code and Americans with Disability Act…

Alliance Center finishes transformation

3 August 2014 | Posted in Construction, Design & Engineering, Green Building
Green just got a lot greener at the Alliance Center.  And all thanks to an antiquated HVAC system on its last legs, which spurred building owner Alliance for Sustainable Colorado to not only replace the heating and cooling systems but also transform the already green Lower Downtown Denver facility.  “The sustainability movement benefits from having a physical location that is both a hub for collaboration and a model of how buildings can be designed and operated t…