3 restaurants on tap for Union Station
Three locally owned restaurants will be the first major restaurant tenants for Union Station, Larimer Associates announced today.
The three tenants are: The Kitchen Next Door, Snooze, an A.M. Eatery. and a new restaurant and market concept by chef Alex Seidel.
All three restaurants will open in the revitalized train terminal in July 2014, each featuring a large patio for outdoor dining.
The Kitchen Next Door will occupy 4,432 square feet, Alex Seidel’s new con…
H&M continues Colorado expansion
H&M, Hennes & Mauritz, one of the world’s largest fashion retailers, continues its Colorado expansion.
The retailer recently inked a lease at Colorado Mills in Lakewood, where it will open its 23,000-square-foot store this fall.
The opening of the Colorado Mills location is part of the Swedish retailers plans to expand "greatly" throughout the West.
H&M at Colorado Mills will include collections for ladies, men, young ladies and y…
Work begins on new commercial development in Gunnison
Construction has started on the first new commercial development in Gunnison in years.
Denver-based Drake Real Estate Services recently acquired a 4.8-acre site fronting State Highway 135 and accessible from Van Tuyl Circle where it is developing the Blue Mesa Shopping Center.
The Blue Mesa Shopping Center will comprise approximately 40,000 square feet and be anchored by Tractor Supply Co. on one of the four pad sites that make up the development.
“It’s huge for Gun…
Brixmor adding Neighborhood Market
New York City-based Brixmor Property Group plans to bring a 55,669-square-foot Walmart Neighborhood Market to its Villa Monaco shopping center in southeast Denver.
The Neighborhood Market will replace a former King Soopers as the anchor tenant in the center on the southwest corner of South Monaco Parkway and East Evans Avenue.
“The new Neighborhood Market will be in the old King Soopers building, but the building might be reconfigured for the Neighborhood Market,” sa…
Developer assembles Boulder redevelopment sites
A Denver-based company has been busy assembling redevelopment sites in Boulder, including five acres sandwiched between Whole Foods Market, the transit village and the Twenty Ninth Street shopping and entertainment center.
Brickstone Partners, which has been active in the Boulder student housing/apartment market, plans to begin the entitlement process for the property within the next 90 days. It is exploring 400,000 to 500,000 square feet of development, including office or hospi…
Containers used for innovative project on Larimer
Denver-based Gravitas Development Group announced today it has broken ground on an innovative retail development in the Upper Larimer area that is constructed out of 29 reclaimed shipping containers.
The nine commercial spaces, with a total 7,360 square feet, will be constructed with containers at 25th and Larimer streets that previously had been used for transporting goods around the world. It will open this summer.
Individual spaces range from 320 to 1,280 sf. Sim…
H&M, Loft coming to The Streets at SouthGlenn
H&M, Hennes & Mauritz, announced its continued expansion in the Denver-Aurora metropolitan area with its opening of a new location at The Streets at SouthGlenn. The Streets at SouthGlenn store, slated to open this spring, represents the fourth H&M location along the Front Range.
The approximately 23,000 square-foot store will offer collections for ladies, men, young ladies and young men, with separate “store within store” sections …
Walmart to anchor Garland Center redevelopment
Walmart is coming to Northglenn – and with it building a store that will meet the needs of the community.
Wal-Mart Stores Inc. recently announced plans to anchor the redevelopment of Garland Center in a joint project with the Northglenn Urban Renewal Authority. The 41,000-square-foot Neighborhood Market will feature a full grocery store as well as a pharmacy.
“We are excited to bring this project to our Northglenn customers,” said Walmart spokesman Joshua Phair…
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…
Roth Sheppard, Jordy start work on new Izakaya Den
Construction has begun on Izakaya Den’s new location.
Hiro & Co., doing business as Den Corner Restaurants, in collaboration with Roth Sheppard Architects and Jordy Construction, will unveil the new Izakaya Denver in late May.
The restaurant will be located in the former Pearl Street Grill location at 1487-A S. Pearl St., near its current location at 1518 S. Pearl.
Roth Sheppard is designing the new restaurant, slated to feature a grand staircase, glass enclosed eleva…
Nichols taps Greystar at King Soopers site
Developer Randy Nichols has brought in Greystar Real Estate Partners as an equity and joint venture partner at his downtown Denver site will include a King Soopers.
While neither Nichols nor the brokers on the land sale by Greystar would confirm a sales price, records indicate Greystar paid $21 million for the site at 20th Street and Chestnut Place.
The site will include a full-service, 47,00…
Retail centers sell for $31.5 million
A pair of shopping centers in Colorado Springs recently sold for $31.5 million.
TKG Uintah Gardens Development LLC and TKG Academy Place LLC, out-of-state limited liability companies, purchased the Uintah Gardens Shopping Center and Academy Place Shopping Center from Weingarten Realty.
“Both Uintah Gardens and Academy Place received strong interest from the investment community given their infill locations and solid tenant mix,” said Brad Lyons of CBRE’s Retail…
Starbucks opens new concept store in Northglenn Greens
Starbucks Coffee has opened a new drive-thru and walk-up location at Interstate 25 and 104th Avenue in the Northglenn Greens shopping center on Bannock Street in Northglenn.
The 480-square-foot concept store is only the second Starbucks location like it in the nation and a model that will be used for future stores worldwide.
The store was manufactured in the United States using a reclaimed shipping container from China. Both the inside cabinets and flooring are constructed from …
Shoppes on Academy sells at nearly $400 per square foot
A retail property along the Academy Boulevard corridor recently sold for nearly $400 per square foot.
JK Capital LLC paid $3 million, or $394 per sf, for the Shoppes on Academy, a 7,599-sf retail center at 7214 Academy Blvd. in Colorado Springs.
“It was a good deal for both the buyer and seller,” said Jason Schmidt of Cushman & Wakefield of Colorado Inc. “It’s a well-located, nicely constructed center occupied by stable tenants.”
McWhinney joins Union Station team
Loveland-based McWhinney has joined the Union Station Alliance group as the managing member of the team that is redeveloping Union Station.
Union Station Alliance includes Larimer Associates, Sage Hospitality, REGenLLC and Urban Neighborhoods
McWhinney is an real estate investment and development company, responsible for large-scale multi-use developments in Colorado such as Centerra in Loveland and North Park in Broomfie…
Hyder Construction completes Elk Camp restaurant
After two summer building seasons, Hyder Construction has completed the new Elk Camp restaurant in Aspen.
The restaurant, constructed for Aspen Skiing Co., opened in time for the resort’s 2012-2013 season. Elk Camp is design to capitalize on the views that can be seen from all three sides of the building, which sits at 9,970 feet above sea level.
CCY Architects of Basalt designed the contemporary structure, which features a vast area of windows, large timbers, metal siding…
Evergreen's Elk Bridge Center sells
An Evergreen-based investor acquired a local mixed-use property steeped in synergy.
Evergreen Investors LLC paid $2.95 million for Elk Bridge Center, a two-story, 20,633-square-foot office and retail property.
“It will be a nice investment for the group,” John Becker of Fuller Western Real Estate said of the buyer, noting its local sponsorship recognized the quality of the asset, which was built in 1999.
“Elk Bridge has a good tenant mix with a good synergy fo…
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…
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…
Nichols to develop downtown Boulder project
A development team managed by The Nichols Partnership will develop the former Daily Camera site in downtown Boulder. The 60,000-square-foot site will house an $80 million mixed-use project with large floor-plate office space, retail and specialty uses, including an art house theater. Ten Eleven Pearl LLC bought the property from Karlin Real Estate for $13.5 million in a deal handled by Lynda Gibbons of Boulder-based Gibbons-White. For more details, see the Jan. 2 issue of the Colo…
Gingsborg honored by CSU
Veteran shopping center developer Allen Ginsborg has been named the 2012 Real Estate Entrepreneur of the Year by the Everitt Real Estate Center at Colorado State University - College of Business.Ginsborg is the managing director and principal of NewMark Merrill Mountain States.
The company owns and is redeveloping the Twin Peaks Mall in Longmont.
The award was presented by Eric Holsapple, the executive director of the Everitt Real Estate Center.
"Northern Colorado is extr…
Union Station renovation kicks off in December
The RTD has approved the lease of the historic Union Station building to the veteran development team of Sage Hospitality, Larimer Associates, REGen LLC and Urban Neighborhoods.
The team plans to transform the historic building into a mixed-use, transit-oriented hub with a planned opening in mid-2014. The building will close to the public on Dec. 1 and construction will begin Dec. 3.
“It’s been a long journey, but our dream to see this historic landmark come ba…
Target confirms Tamarac Square store
Target announced on Wednesday it will open the long-anticipated 135,000-square-foot store at the former Tamarac Square site in Denver next July.
The Tamarac Square Target will be constructed at the corner of East Hampden Avenue and South Tamarac Drive. This is one of 11 U.S. Target stores announced to open in 2013.
The new Target will hire about 200 people, according to Mark…
Building fire at The Streets at SouthGlenn
Alberta Development Partners LLC released the following information regarding today's fire at The Streets at SouthGlenn in Centennial:
During demolition of a vacant portion of the Block 1 building at The Streets at Southglenn, a fire started in an exterior wall cavity. No property damage occurred beyond the demolition area, and no reported injuries have occurred, other than smoke inhalation by one worker, who did not require hospitalization. The contractor had…
Saunders Construction building apt., Whole Foods projects
Saunders Construction Inc. is the contractor for a pair of metro Denver projects, including One City Block.
The contractor will build the four-building residential project at 19th Avenue and Logan Street in Uptown. The project is slated to achieve LEED Silver certification. RedPeak Properties is developing One City Block, which is designed by Davis Partnership.
The firm also is the contractor for a new 36,000-square-foot Whole Foods on Wadsworth Boulevard in Littleton. CSHQA is …
Fierce competition in sale of grocery-anchored center
The competition was fierce for an asset type that doesn’t often fall into foreclosure.
Multiple buyers bid on Conifer Town Center, a 107,451-square-foot, six-building, Safeway-anchored shopping center in Conifer that ultimately sold to a Dallas-based buyer for $13.13 million, according to CoStar.
T Conifer Retail LLC, an affiliate of Dallas-based Tabani Group Inc., purchased the Safeway-anchored center at 27102-27182 Main St.
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 …
Construction under way on new Thornton project
Thornton Development LLC and the city of Thornton celebrated breaking ground on The Grove, a new retail development in Thornton that will be home to a new Cabela’s. The 90,000-square-foot Cabela’s store will serve as an anchor for the development at the southeast corner of 144th Avenue and Interstate 25 in Thornton’s North Washington corridor.
“We are excited about the future jobs and development that will grow on this site. This is a great day for th…
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…
Cabela's breaking ground in Thornton
A groundbreaking ceremony for Cabela’s, the giant outdoor outfitting company, is scheduled for 1 p.m. on Oct. 31 at the southwest corner of 144th Avenue and Interstate 25 in Thornton.
The 90,000-square-foot store, which along with one in RidgeGate in Lone Tree, will be the first in Colorado. Both are scheduled to open next year.
The Thornton store will anchor the 63-acre Grove, …
Retailers bring new- to-market stores to Cherry Creek
Cherry Creek Shopping Center in Denver is adding a multitude of new retailers, including many that are new to the Denver market.
True Religion Brand Jeans, Buckle, Madewell, Omega and Fresh-Healthy Café all will open by the end of the year at the center, which recently welcomed H&M, an expanded 19,900-square-foot Forever 21 and the region’s first Athleta. Read more in the Oct. 17 issue.
ULI conference draws 6,000 to Denver
More than 6,000 developers, real estate investors, architects, planners, attorneys and others from the U.S. and around the world are attending the Urban Land Institute’s 75th anniversary convention in Denver.
The event, whose theme is “What’s Next” ends Friday and focuses on larger issues of economic and political consequences, including global finance, innovation and, of course, potential impacts of the Presidential election in November.
ULI, at the conf…
Walmart pulls out of Ninth and Colorado
Wal-Mart Stores Inc. has decided not to build its first urban-style store at East Ninth Avenue and Colorado Boulevard.
The giant retailer’s presence has sparked highly publicized opposition from neighbors and some city council members. It appeared unlikely that developer Jeff Fuqua would receive needed tax increment financing approval with Wal-Mart on board.
“While Walmart will not be part of the planned redevelopment of the former University of Colorado Health Scien…
ICSC awards Aspen Grove for community efforts
The International Council of Shopping Centers Foundation recently awarded Aspen Grove its western region winner of the 2012 U.S. Community Support Award.
The center was recognized at ICSC’s NOI+ Conference Sept. 5. ICSC presented one overall and four regional awards at the conference.
Aspen Grove in Littleton was recognized for its “Queen for a Day” campaign. Aspen Grove teamed up with Bessie’s Hope for the monthly program, which honors a nursing home eld…
Bass Pro Shops to build 117,000 sf at Centerra
Bass Pro Shops has signed a letter of intent with McWhinney to anchor a major new development at Centerra in Loveland. The development will be built at the northeast corner of Interstate 25 and U.S. Highway 34. Bass Pro’s store will total approximately 117,000 square feet and will generate at least 250 jobs. “Northern Colorado is known as a destination for some of the top retailers in the country, serving not only the local community, but also attracting shoppers from …
Kuni opening ritzy new dealership
Kuni Lexus will open an eco-friendly dealership with country club-style amenities near the Denver Tech Center in the spring. As interesting as the new dealership is, there are a lot of moving pieces to the transaction. Read about it in the next edition of the Colorado Real Estate Journal.
Retail in apartment communities?
Does retail belong in an apartment community? That is something David Zucker, principal of Zocalo Community Development, explores in the next issue of Colorado Real Estate Journal. Zucker came to the conclusion that retail only makes sense if it provides an amenity to both the residents of his highrise apartment buildings and the surrounding neighborhood. Read about it in the next issue of CREJ.
Rustic Hills Shopping Center sells in value-add play
A Texas-based buyer acquired the Rustic Hills Shopping Center in a value-add play.
SpringsBon LLC paid an undisclosed amount for the retail center situated in eastern Colorado Springs at the southeast corner of North Academy and Palmer Park boulevards. The four-building center comprises 234,015 square feet on a 17.28-acre site.
Read more in the Sept. 5 issue of the Colorado Real Estate Journal.
Olympic-level curling facility sweeping into Denver area
The Denver Curling Club is planning to construct an Olympic- caliber facility dedicated to the sport of sliding “stones” across a sheet of ice.
The Denver Curling Center would be the only dedicated ice between Seattle and Bismarck, N. D., to develop and train youth, junior, adult, senior and wheelchair curlers for local, national, international, Olympic and Paralympics competition. It also would be used to host regional and national events.
"It would have about 20,00…
City 'excited' for ground-up retail development
Construction has started on Promenade at Denver West, a 63,000-square-foot retail development at West Colfax Avenue and Indiana Street in Lakewood.
Alberta Development Partners LLC is developing the 11.75-acre site, once home to Stevinson Chevrolet.
"The city of Lakewood is excied to see the southeast corner of West Colfax and Indiana Street redevelopment with a high-quality retail project. This highly visible corner serves an an entrance into the city, Coorado Mills and D…
Boulder firm buys Tenth & Pearl for $16.1 million
A Boulder private equity firm acquired Tenth & Pearl, a distinct office/retail property on the Pearl Street Mall, for $16.1 million, or $383.33 per square foot. Conscience Bay Co. bought the Class A asset from a California partnership in an off-market deal. The property is 96 percent leased to tenants including SendGrid, which occupies approximately 7,500 sf; Porzak Browning & Bushong, which leases about 7,000 sf; and Bacaro Venetian Tavern, an approximately 5,000-sf …
Harmony School Shops sell to Revesco in $18 million deal
Harmony School Shops, a fully leased shopping center smack-dab in the middle of Fort Collins’ Harmony Road retail corridor, has a new owner. The $18 million acquisition by Revesco Properties included 85,354 square feet of fully leased retail space and two undeveloped pads. Harmony School Shops includes a collection of large and mid-box stores and a high-visibility strip center fronting Harmony Road. “The lure of it is that it’s on the growth side and th…
The changing shape of big-box retail
NVC's Reagan Hardwick observes how market conditions and online competition are shaping big-box retail: Clearly there are merchandise categories that are thriving as a result of changing consumer behavior and some that are exhibiting signs of sharp decline. For real estate investors, consideration of tenant composition has become an increasingly important factor. Comparable sales data and market participant interviews indicate that investors will pay a premium for category-dominan…
Financing options for retail properties improve
Ed Boxer of Essex Financial Group says virtually all commercial real estate lending came to a halt in 2009 and began to recover in 2010. Lending on retail centers has taken the longest to regain its footing and lenders remain cautious when it comes to lending on retail properties but it has recovered and stabilized centers in good locations with strong sponsors can obtain nonrecourse permanent financing at historically low interest rates. The most desirable retail centers continue…
Shoe Dept. Encore opens at Town Center at Aurora
Shoe Dept. Encore has opened its 26,000-square-foot store at the Town Center at Aurora.
The store, which carries brands such as Timberland, Hush Puppies, Life Stride, K Swiss, Reebok, Nike, Keds, New Balance and adidas, recently opened at the retail center at 14200 E. Alameda Ave. in Aurora. Read more in the July 18 issue of the Colorado Real Estate Journal.
Foothills Mall in Fort Collins gets new owners
Affiliates of Walton Street Capital, a private real estate investment firm, and Alberta Development Partners, a Denver-based real estate acquisition, development and investment firm, have acquired Foothills Mall in Fort Collins.
The price was not disclosed.
The new owners plan to reposition the 753,000-square-foot mall, which is located off College Avenue and anchored by Macy’s and Sears.
“The repositioning of Foothills Mall will represent a significant commitment b…
King Soopers opens Marketplace in Commerce City
More than 500 customers were waiting in line for the opening of the new King Soopers Marketplace in Commerce City this week. The 120,000-square-foot King Soopers Marketplace is designed to offer one-stop shopping for its customers. Located at 15051 E. 104th Ave., the store concept is the fourth of its kind statewide.
“Commerce City has seen its population double in the last 10 years and more rooftops meant more expectations for services and retail,” said Co…
Yard House on tap to open July 1
The Yard House Restaurant is on tap to open its doors July 1 in The Vistas at Park Meadows. Read more about the opening and other openings and events at Colorado retail centers in the Shopping Center News section of the July 18th issue.
Outlet centers growing
An audience member attending the 2012 Retail (and Restaurant) Conference sponsored by the Colorado Real Estate Journal on Tuesday, asked what panel members thought of the future of mixed-use developments.
"Outlet centers are the new mixed-use developments," answered Michael Staenberg, prewident of THF Realty, which builds giant retail centers, anchored by stores such as Walmart and Target.
He said in St. Louis, where he is from, there were now outlet centers and suddely three ar…
Retailers can survive Internet
I ran into retail consultant Robin Salvagia-Lowder moments after she addressed a packed audience attending the Colorado Real Estate Journal's 2012 Retail (and Restaurant) Conference at the Inverness Hotel and Conference Center on Tuesday.
I told her I really enjoyed her insights, but I was wondering how she thought stick-and-brick retailers could compete with buying online?
Salvagio Lowder, CEO of CLC Assocaites, said she was glad I asked, because she really wanted to address th…
CREJ Retail Conference draws top-notch speakers
The 2012 Retail (and Restaurant) Conference sponsored by the Colorado Real Estate Journal at the Inverness Hotel and Conference Center on Tuesday, drew a Who's Who of industry leaders. The Development Strategist panel alone, included: Michael Staenberg, president of THF Realty; Mark Sidell, president of Gart Properties; Chuck Woods, principal of Chandelle Properties; David Goldberg, principal of Alberta Development Partners; and Jon Hauser, president of Drake Real Estate Services.…
Walmart's Neighborhood Market Coming to Arvada
A Walmart Neighborhood Market will open on Wednesday in the Arvada West Town Shopping Center at 14605 W. 64th Ave. in Arvada. The grocery store will have 57,600 square feet in a former Albertson's that has been vacant for almost five years. Also on Wednesday, a Walmart Neighborhood Market will open at 16746 E. Smoky Hill Road in Centennial. On June 29, Walmart Neighborhood Markets will open at 3615 W. Bowles Ave., Littleton and 5141 Chambers Road, Denver.