Medtronic leases 40,657 sf in Colorado Tech Center building
Medtronic Navigation Inc. signed a lease for 40,657 square feet of office/flex space in the Colorado Technology Center in Louisville, boosting its presence on the U.S. Highway 36 corridor.
The global medical technology company will occupy a portion of the 92,576-sf building at 1480 Arthur Ave. in July. Etkin Johnson Group owns the property.
Ryan Good, Etkin Johnson vice president of leasing and sales, negotiated the transaction with Todd Wheeler of Cushman & Wakefield o…
PeakView at Dabling sees occupancy skyrocket
Northstar Commercial Partners recently invested in a 152,023-square-foot building in Colorado Springs, where occupancy rocketed from 28.57 percent at contract negotiation to 73.03 percent at closing.
Northstar, which specializes in acquiring opportunistic commercial real estate assets throughout the United States, bought a controlling interest in Dabling Properties LLC, which owns the facility, PeakView at Dabling, at 5825 Mark Dabling Blvd.
“We’re extremely excited …
Conscience Bay acquires third industrial building for $8.8m
A Boulder private equity firm acquired the final piece of an industrial property strategically located near the city’s new transit village.
Conscience Bay Co. paid $8.8 million, or $88 per square foot, for the 100,000-sf industrial building on five acres at 3825 Walnut St.
The building is 100 percent leased to the Denver Newspaper Agency, Grainger Industrial Supply and eTundra, a restaurant supply company. It the last of three buildings that DPC Development Co. owned in Fo…
Industrial build-to-suits in the works
Build-to-suits for two users are in the works at Highfield Business Park in Douglas County and Coors Technology Center in Golden.
Central Development has broken ground on a 63,981-square-foot tilt-up building at Highfield for Applied Control Equipment, which delivers automation solutions to clients in Colorado, Wyoming, Montana, and parts of Nebraska and South Dakota. The local business partner in the Rocky Mountain Region for Emerson Process Management, the company services indu…
High-tech manufacturing bldg. trades for $2.5m
Alliance Storage Technologies Inc. purchased a Colorado Springs high-tech/manufacturing facility at a fraction of replacement cost.
The firm, which specializes in professional data archiving solutions for secure archival data, paid $2.5 million for the 51,588-square-foot industrial building at 10045 Federal Drive.
Alliance Storage is under way on renovations to the building, built in 1996, according to public records, and is expected to fully occupy the building in three to four…
Transformed printing plant to be multistate draw
Ascendant Development plans a next-generation design center at the former Denver Post printing facility at Interstates 25 and 70. Ascendant expects the multifaceted center to be a destination for Colorado and surrounding states. Read more about it in CREJ's April 17 issue.
Terrix handles challenging deal
Kevin Chadwick said he could have shopped a recent acquisition deal to 50 lenders and 49 would reject it.
But Chadwick, a principal of Terrix Financial, only went to about 20 lenders before he found the “needle in the haystack” lender willing to fund a $9.5 million loan for the $15.2 million purchase of an industrial property in Colorado Springs by a California-based investment company.
“It was an interesting deal. It was a challenging deal,” said Chadwic…
Office vacancy rate drops, industrial in demand
Denver’s office vacancy rate dropped 60 basis points in the first quarter of the year, and there was healthy demand for warehouse/distribution space, according to CBRE Group.
Office vacancies declined or held steady in most U.S. markets, according to preliminary data from CBRE, while six of the 12 largest markets, led by Denver and San Francisco, showed decreases. Denver’s office vacancy rate was 14.5 percent, compared with 15.1 percent at the end of the fourth …
Majestic Realty to develop 500,000-sf spec building
Majestic Realty Co. says it will build the first speculative industrial building in Denver in five years – and the largest ever built in the market at 500,000 square feet – at Majestic Commercenter in Aurora. “We’ve taken a very close look at local and national market conditions, vacancy and absorption rates, product supply and the success we’ve had providing large, high-quality, high-cube industrial space that is the best in the market. We’re e…
CBRE gets listing on former ConocoPhillips site
CBRE has been awarded the listing on 432 acres in Louisville where ConocoPhillips once planned a global technology campus. The team consists of Martin Roth and Eric Roth, first vice presidents with the Denver Land Services Group; Frank Kelley, a senior vice president specializing in the Northwest Denver office and industrial submarkets; and Sanford Criner, executive vice president of Global Corporate Services. Formerly Sun Microsystems’ technology campus, the property sold t…
NAIOP Colorado honors top CRE professionals
NAIOP Colorado presented its version of the Oscars today, honoring Denver’s top commercial real estate professionals at its Academy of Excellence Awards program. Awards included:
Broker Outstanding Achievement: Mike Winn & Tim Richey, Cushman & Wakefield of Colorado
Industrial Broker of the Year: T.J. Smith, Colliers International
Investment Broker of the Year: Brad Lyons, CBRE
Land Broker of the Year: Er…
Taylor Farms facility sells for $15.2 million
Taylor Farms’ facility sold in one of, if not the, largest industrial investment transactions to close in Colorado Springs in 2012.
Los Angeles-based Pacific View Investments paid $15.2 million for the 83,616-square-foot industrial building at 890 N. Newport Road in the Aerotech Commerce Center.
“Pacific View Investments likes strong, long-term, net-leased, great quality buildings, which it found in the Taylor Farms’ building,” said Marty Cohan of the Wes…
Denver investment market in Top 10
The Denver commercial real estate market is among the top 10 investment markets in the country, due largely to a strong local economy aided by a diverse employment base and good quality of life, PwC Denver-based real estate expert Wendy McCray said in response to the fourth-quarter PwC Real Estate Investor Survey. The survey is an outlook on commercial real estate based on hundreds of interviews and survey responses from real estate market participants. Total transaction volume in…
Denver's biggest spec industrial building planned
The biggest speculative industrial building ever built in Denver could be landing at Stapleton. United Properties says it will build a 514,500-square-foot distribution building in 2013 at Enterprise Business Center, a new industrial development near Interstate 70 and Havana Street. Enterprise Business Center also would include two office/flex buildings, for a total of 710,850 sf. The announcement is surprising because of its size and also because Enterprise Business Center would b…
Fiscal cliff a 'primary concern' for commercial real estate
Cassidy Turley today released research examining the impending “fiscal cliff’s” impact on commercial real estate markets across the country. The report summarizes the various scenarios related to fiscal policy and then draws the link to commercial real estate. “The fiscal cliff is our primary concern regarding the continuation of Denver’s current positive growth,” according to Greg Morris, president and CEO of Cassidy Turley Colorado. “Goi…
Distributor to build 242,000 sf at Prologis Park 70
A distributor will expand its Denver presence with a 242,000-square-foot facility in Aurora. WinWholesale Inc.’s building will be the third new building started this year at Prologis Park 70, a master-planned industrial park at Interstate 70 and E-470 in Aurora. WinWholesale currently occupies approximately 124,000 sf in Denver Business Center, so the new building will be nearly double that size. It will allow the growing company to expand the number of product lines i…
DaVita, others honored at DU, DMCAR conference
The $110 million DaVita world headquarters building in downtown Denver on Thursday was named both the “Overall Project of the Year” as well as the “Office Property of the Year” at one of the largest and most prestigious gatherings of commercial real estate officials in Denver.The DaVita project in the Central Platte Valley at 2000 16th St. was lauded at the 18th annual Rocky Mountain Commercial Real Estate Expo and Fall Forecast sponsored by the University …
Market is back, declares Holsapple
“You heard it here first: The market is back” was Dr. Eric Holsapple’s concluding remark based on information presented at the 16th annual Northern Colorado Real Estate Conference today in Fort Collins. Holsapple is executive director of Colorado State University’s Everitt Real Estate Center, which hosted the event with the Northern Colorado Commercial Association of Realtors. Job growth is “very healthy” in Northern Colorado and in Denver, hous…
Pueblo selection a first for Austrian-based manufacturer
One of the world’s leading chain manufacturers is linking up with Pueblo.
Austrian-based pewag, in conjunction with the Pueblo Economic Development Corp., recently announced that it will open its first North American manufacturing center next year in the Minnequa Industrial Park in the south end of the city.
A ceremonial groundbreaking recently was held for the 55,000-square-foot facility, for which construction will begin in January. Read more in the Oct. 3 issue o…
REIT pays $90.85 million for data center
A real estate investment trust paid $90.85 million for a data center and office complex in the southeast Denver metro area, according to public records. The 287,231-square-foot center at 11900 E. Cornell Ave. in Aurora is 94 percent leased. ViaWest, a co-location provider, leases the data center space, and the U.S. Bureau of Prisons occupies the office space. San Francisco-based Digital Realty Trust Inc., which specializes in buying and developing data centers, purchased the prope…