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…
USPS building for sale in Glenwood Springs
The only high-quality manufacturing grade building in the Roaring Fork Valley is on the market.
The United States Postal Service’s former mail distribution center at 195 Center Drive, at the northwest corner of Storm King Road and Center Drive, in Glenwood Springs is for sale for $2.19 million - a price that is less than half of replacement cost, noted Craig Rathbun, CCIM, president/managing partner of The Fleisher Co. Read more in the Sept. 19 issue of the Colorado Real Es…
Natural Grocers signs lease for 107,000 sf at Coors Tech
Natural Grocers by Vitamin Cottage, a Colorado company that recently went public and is opening 10 new stores a year, is doubling its distribution space with a move to Coors Tech Center in Golden. Vitamin Cottage Natural Foods Market leased 107,000 square feet in a 149,628-sf building at 4403 Table Mountain Drive. James Craddock of Craddock Commercial Real Estate represented the tenant. Cassidy Turley Fuller Real Estate brokers Chris Ball and Esther Kettering represented the landl…
Butterball lists Longmont turkey plant for $16.5 million
Butterball has listed its 326,309-square-foot facility on 27.57 acres in Longmont for sale at $16.5 million. CBRE brokers Jeff Counsell, Tyler Carner and Erik Abrahamson are marketing the property at 150 Main St. to food production users. It includes the main processing plant, a contiguous lab, parking, truck maintenance, spice blending and cold storage facilities, plus seven land parcels ranging from 0.07 to 12.27 acres. CBRE said all offers are being considered. Butterball close…
Manufacturer grows in Littleton
A precision-machining company that occupied space in a high-tech manufacturing facility in Littleton made a long-term commitment to the entire 95,520 square feet. Premier Precision Group signed a seven-year lease for the building, which sits on 5.98 acres at 10488 W. Centennial Road in Ken Caryl Business Center, according to Kirk Vanino of Cushman & Wakefield of Colorado Inc. Premier Precision previously occupied about 83,000 sf on a short-term basis. See details in CR…
Briargate building sells to growing firm
A Colorado Springs-based software and hardware design engineering company acquired a single-story flex building in Briargate that will accommodate its “significant” growth. Colorado Engineering, under the name Law Land Company LLC, paid $2.33 million for the 38,962-square-foot building at 1915 Jamboree Drive in Colorado Springs.
“Our company has steadily grown since we were founded in 2003 and the acquisition is a culmination of our efforts,” said Nancy E.…
Pinkard pops the top on Coors expansion project
The pop's been topped on Pinkard Construction Co's latest expansion project, an approximately 40,000-square-foot addition for Coors Distributing Co.
The tilt-up concrete and structural steel expansion was completed at the brewer's existing 210,000-sf facility in northwest Denver. Read more in the upcoming July 4 issue of the CREJ.
Tenant signs big industrial lease in Montbello
OnTrac, an overnight delivery company, leased a 151,929-square-foot industrial building in Montbello Industrial Park in Denver. The owner bought the building a couple of years ago and put in nearly $1 million worth of improvements. CBRE broker Paul Kluck represented the tenant in the lease, and Tom Myers of Unique Properties LLC-TCN Worldwide represented the landlord. See details CREJ's June 20-July 3 issue.
Avon mixed-use property scooped up by investment group
Local investment group Avon Mountain Center LLC paid $9.8 million for a mixed-use property in the heart of the Vail Valley.
Avon Mountain Center LLC purchased the Mountain Center of Avon, an 80,000-square-foot office/flex/self-storage building at 910 Nottingham Road in Avon in a cash-flow play, according to transaction broker Mike Pearson of NAI Mountain Commercial. Read more in the current issue of the Colorado Real Estate Journal.
Bal Seal breaks ground on $45m facility
Bal Seal has broken ground on its $45 million, 155,000-square-foot manufacturing facility in Colorado Springs.
The U.S. provider of custom-engineered, high-perfromance electical contracts and seals, is building its facility on approximately 17 acres at the southwest corner of Voyager Parkway and Republic Drive in the InterQuest buisiness park. The new facility represents an expansion and relocation for Bal Seal Engineering Inc. in the Colorado Springs market.
Bryan C…
McWhinney to develop 165,000-square-foot build-to-suit
McWhinney is developing a 165,000-square-foot manufacturing and distribution facility for Fiberspar, which provides composite, spoolable pipe to the oil and gas industry. The building will be located on 17 acres at McWhinney's Iron Horse Business Park at U.S. Highway 34 and Interstate 25 in Johnstown. CBRE broker Murray Platt, Mike Camp, Jim Bolt and Bill Thompson represented the tenant. See the June 6 issue of CREJ for more details.