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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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United Properties buys 58 acres in Centennial

24 October 2014 | Posted in Multifamily, Industrial, Office, Denver Market, Hospitality, Land
United Properties has acquired 58 acres of land at Dry Creek Corporate Center in Centennial for a development that will include a 180,000-square-foot multistory office building. The building, likely to start construction in spring, will offer competitive lease rates, large floor plates, and ample amenities and parking, according to United Properties Vice President Kevin Kelley. Dry Creek Corporate Center is at the southeast corner of South Havana Street and East Easter Avenue. …

Bitzer becomes Lee & Associates Denver

23 October 2014 | Posted in Retail, Industrial, Office, Denver Market
Bitzer Real Estate Partners merged with Lee & Associates, the largest broker-owned commercial real estate company in the country, to create Lee & Associates Denver. John Bitzer will lead the firm, in which JR Bitzer and Ron Webert will be principals. The office will be located at 1610 Wynkoop St., Suite 450. Lee & Associates also recently opened an office in Cleveland as part of a regional and national office expansion strategy. It now has 51 offices. One of John Bi…

Net-leased industrial building trades

20 October 2014 | Posted in Industrial, Denver Market
A single-tenant, net-leased industrial/flex building near the entrance to Coors Technology Center in Golden sold for $11.41 million. The 51,700-square-foot building was constructed in 2013 as a build-to-suit for Pason Systems, which has 12 years remaining on its lease. AO Lot 20, B1, CTC LLLP, a partnership headed by developer Allan Ojala, sold the property to 1616 Champa LLC. The buyer is a local group that was completing a 1031 tax-deferred exchange for its recent sale of…

Entertainment center coming to Bergen Park

20 October 2014 | Posted in Retail, Denver Market
The former AMC Bergen 7 Cinema is being transformed into a dining and entertainment center. The total cost of the 24,500-square-foot Wild Game Entertainment Experience is about $5 million. The center, at 1204 Bergen Parkway, across from a King Soopers, will have five components, ranging from an upscale restaurant to a bowling alley. Read the entire article in CREJ's Oct. 15-Nov. 4 issue.

GID pays $69 million for Element 47

20 October 2014 | Posted in Multifamily, Denver Market
The Spanos Corp. has sold its recently completed Element 47 apartment community overlooking Interstate 25 in the increasingly trendy Jefferson Park neighborhood in Denver. Boston-based GID paid $69 million for the 265-unit community at 2185 Bryant St. The sale price equates to $260,377 per unit and $303.82 per square foot. “It is one of the key locations in Denver,” said John Winslow, principal of Winslow Property Consultants LLC. Winslow was not involved in the de…

Whirlpool stirs up investors, fetches $37.5m

20 October 2014 | Posted in Industrial, Denver Market
Whirlpool Corp.’s distribution facility stirred up the investment community and sold for $91.22 per square foot. “It was off the charts – it was unbelievable the interest we had,” said Mike Winn of CBRE. “There is so little quality industrial to buy not only in Colorado but also across the country, especially for buyers who have a diversified portfolio.” Stoltz Real Estate Partners bought the 410,212-sf building on 31.97 acres for $37.5 millio…

Moving & storage company trades spaces

20 October 2014 | Posted in Industrial, Denver Market
A moving and storage company with deep roots in Denver bought a building and sold its existing properties in transactions totaling $21.72 million. Buehler Moving & Storage acquired a 277,236-square-foot building at 20101 E. 36th Ave. in Majestic Commercenter for $11.58 million. It will occupy about 139,000 sf. The U.S. Postal Service will continue to lease the remainder of the building, which is located in Aurora. Buehler sold its existing facilities at 4200 E. 50th Ave., 38…

Investment adviser enters office market

20 October 2014 | Posted in Office, Denver Market
A New York-based investment adviser marked its entry into the Denver market with the acquisition of two office properties for $33.21 million. Corporate 25, a three-building, 134,598-square-foot property in Centennial, was the first purchase for TNREF III, a real estate fund created by White Plains-based True North Management Group. Crown West Realty sold the property for $15.16 million. TNREF III bought Aurora Corporate Plaza, a suburban office complex with a value-add component…

Mile High United Way's new headquarters opens

19 October 2014 | Posted in Construction, Design & Engineering
A former brownfield site in Denver’s historic Curtis Park Neighborhood has found new life as Mile High United Way’s new headquarters, the Morgridge Center for Community Change. “Our new headquarters is more than just a building,” said Christine Benero, president and CEO of Mile High United Way. “It is mission-based community hub where we will collectively identify and solve communitywide problems.” The $23.5 million, 63,000-square-foot buildin…

Hurry up and slow down

19 October 2014 | Posted in Construction, Design & Engineering
Tia JenkinsPrincipal and architect, Kieding Office Architects, Denver Checklists and processes have been designed to improve standards and enhance communication in virtually any environment where people exist. They're basic. Baselines for life. We work among them every day and abide by their demands often without even realizing it.  There are, of course, different types of processes with different levels of importance that can directly affect favorable outcomes, or even sur…

Work starts on Steamboat Springs' biggest office bldg.

19 October 2014 | Posted in Office, Mountain Towns/Gambling Towns
Construction has started on what will be Steamboat Springs’ largest office building. Hedge fund Deer Park Road Corp., based in Steamboat Springs, has broken ground on the 30,000-square-foot building, designed by Vertical Arts Architecture. The building will include custom offices and a trading floor for the DPRC. “Our new building will further enhance our ability to do business around the world, connecting with global markets in real time, all the time,” said M…

Springs apt. market shows gains

19 October 2014 | Posted in Multifamily, Colorado Springs & Southern Front Range
Colorado Springs has some catching up to do, at least in terms of multifamily rental rates, according to Apartment Insights latest Statistics/Trends Summary. “With local monthly rents currently 25 percent lower than its northerly neighbors, Colorado Springs has a lot of catching up to do,” explained Doug Carter of Sperry Van Ness/Doug Carter LLC, who co-authored the report with Cary Bruteig of Apartment Appraisers & Consultants. However, during the third quarter,…

Office tower planned along I-25

15 October 2014 | Posted in
Developers on Wednesday unveiled plans for a 10-story, energy-efficient office tower to be built on a key site along the Denver-area Southeast corridor.   Granite Properties and Confluent Holdings are partners in a 300,000-square foot office building, Village Center DTC, near Interstate 25 and Arapahoe Road in the Village Center area of Greenwood Village. Granite is buying the land from Koelbel and Co., one of the oldest and best known real estate families in Col…

Picerne breaks ground on City Park project

29 September 2014 | Posted in Multifamily
A Southern California-based real estate firm recently broke ground on Venue on 16th, a 180-unit apartment community in City Park. The Picerne Group, a privately held firm, with a regional office in Denver, is the developer of the community at 2900 E. 16th Ave. The community is expected to be ready for leasing in late 2015.  “This is truly an infill project in the historical and iconic City Park neighborhood, which is experiencing a lot of growth and redevelopment,&rd…

Winn & Richey join CBRE

29 September 2014 | Posted in Office, Denver Market
A top Denver commercial real estate investment team has switched firms and joined CBRE. Mike Winn and Tim Richey formerly were with Cushman & Wakefield of Colorado, where they had been since 1998. The two have completed billions of dollars in transactions since teaming up more than 20 years ago. Members of their investment brokerage team, including Chad Flynn, Kristine Reine and others, reportedly will join Winn and Richey at CBRE. "We thank them for their contributions to …

Issues to consider with leases and insurance

29 September 2014 | Posted in Law & Accounting
Craig FleishmanManaging director, Fleishman & Shapiro PC, Denver It is often the case that commercial leases require a tenant to obtain “x” amount of insurance naming the landlord as an additional insured. There are multiple issues associated with this sort of scenario, which both the tenant and the landlord should be aware of and consider to maximize their protection.  No insurance company will permit, from an insurance coverage standpoint, one insured to s…

White Construction to take flight

29 September 2014 | Posted in
Metro Denver’s largest to-date adaptive reuse urban marketplace is set to take flight early next year. White Construction Group was selected as the construction manager/general contractor for Stanley Marketplace – the brainchild of Flightline Ventures – and the transformation of a former manufacturing facility into a destination marketplace.  Read the entire article in the Oct. 1-Oct. 14 issue of the Colorado Real Estate Journal. 

Arrow Electronics to relocate headquarters

29 September 2014 | Posted in Office, Denver Market, Economic Development
Arrow Electronics plans to move its headquarters to a 128,000-square-foot Class A office building off Interstate 25 at Dry Creek Road in Centennial. Arrow signed a lease for the building at 9201 E. Dry Creek Road and expects to begin moving into the space in December, according to Dawn Small, director of Global Communications Services. “The new space will serve as a central location for approximately 500 employees who will relocate primarily from other Denver-area campuses…

Jeffco lands FedEx facility

29 September 2014 | Posted in Industrial, Economic Development
FedEx Ground reportedly is planning construction of a 210,125-square-foot distribution facility at Verve Innovation Park at Rocky Mountain Metropolitan Airport in Jefferson County. The facility would occupy an 18.83-acre site just west of the intersection of Simms Road and West 112th Avenue, according to documents filed with Jefferson County. FedEx Ground wouldn’t comment on its plans, except to state, “FedEx Ground continuously evaluates opportunities that can enhan…

Dizzying pace of development underway

29 September 2014 | Posted in Retail, Office, Denver Market, Construction, Design & Engineering, Hospitality, Economic Development
Construction is underway on nearly every block of Cherry Creek North, with office, retail, apartment units and hotels going up at a dizzying pace. NAIOP Colorado and event partner Newmark Grubb Knight Frank showcased a half-dozen projects at its annual walking tour Sept. 10, and tour guides were quick to point out many other developments turning what once was a boutique shopping and dining district into a world-class area where people shop, work and live. Cherry Creek always has…