Picerne joins Simpson for DTC apartments
A California-based company has started construction on a 248-unit, transit-oriented development in the Denver Tech Center.
The Picerne Group, based in Southern California, is building the luxury community on 8.7 acres that is a quarter-of-a-mile walk from the Orchard Station T-Rex light rail station.
“The community will appeal to a variety of individuals, from the young employees who work in the Denver Tech Center to the young families who want to live within the Cherry Cr…
Senior living coming downtown
Louisville-based Balfour Senior Living on Tuesday confirmed plans it will build a a $74 million senior living community in downtown Denver, with rents as much as $8,000 per month.
The Balfour at Riverfront Park development will be at 15th and Little Raven streets in Riverfront Park, near Union Station and across from Commons Park. Groundbreaking is slated for February with an opening in June 2014.
Balfour at Riverfront will be the first age-restricted project o…
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 …
New energy, capital coming to Shannon Hills Apts.
A California-based real estate investment group is set to inject new life into its latest multifamily property in Colorado Springs.
Western Investment Partners recently paid $3.42 million, or $48,786 per unit, for the 70-unit Shannon Hills Apartments at 2110 E. La Salle St.
“This is an opportunity to inject new energy and capital into a property with great potential,” explained ARA Colorado’s Kevin McKenna.
“It was owned and self-managed for a number of …
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 …
McGraw-Hill leases last two floors at 1800 Larimer
McGraw-Hill has leased the last two floors of office space at 1800 Larimer, a 495,518-square-foot LEED Platinum building in Lower Downtown Denver.
The deal will allow the company to consolidate offices in Westminster and Evergreen into a single location. The Westminster office, located in Ten West at Westmoor Technology Park, houses about 50 Platts employees and 15 J.D. Power & Associates staff. The Evergreen office is the home of BENTEK Energy, which Platts acquired in 2011.…
REIT buys Greeley MOBs for $15.03 million
A Greeley medical office portfolio that traded for $15.03 million was among $47 million in acquisitions announced by American Healthcare Investors and Griffin Capital Corp., co-sponsors of Griffin-American Healthcare REIT II Inc.
The Northern Colorado portfolio consists of three buildings across the street from the 378-bed North Colorado Medical Center. They were 93 percent occupied, almost entirely by University of Colorado Health. UCH’s lease expires in 2020.
The buildin…
Mortenson starts 'gateway' project on UCCS campus
Mortenson Construction has broken ground on the University of Colorado Colorado Springs’ first design-build project – and the second project of its kind in the state.
“For the university, the main goal is it’s not just a parking structure but it’s a gathering space,” said Chris Knight, design phase manager at Mortenson. “The project will serve as a gateway to the west side of the campus, recreation center and a gathering place for the com…
Maintaining historic buildings 'key' to fabric of downtown
Repairing stone on the exterior to the historic Brown Palace Hotel may seem like an inevitability for a building constructed in 1892.
However, to Rhonda Maas, it is work like this that is crucial to the vitality of a downtown.
“Maintaining historic buildings is key to strengthening the fabric of downtown,” said Maas, president of Building Restoration Specialties Inc., which recently was awarded the contract to complete repairs, such as repairing stone on the exterior…
Grand Junction to light up Times Square in NYC
The Grand Junction Visitor and Convention Bureau partnered with the Grand Junction Economic Partnership in an effort to expand the community’s profile.
The latest effort is an electronic billboard near Times Square in New York City that will showcase images and activities in Mesa County. The advertisement will run through April 14. It is estimated that more than 300,000 people will see the advertisement daily.
“I am excited about the strong partnership GJEP and the V…
Hines, Cushman highlight CU real estate conference
Commercial real estate icons Gerald Hines and John Cushman treated students and commercial real estate professionals to candid talk about their careers at CU’s annual real estate conference in downtown Denver Thursday. Hines, whose iconic buildings grace the world’s skylines, spoke about how quests for innovation and great architecture have guided his career, which began with a 5,000-square-foot building he built for a neighbor. Cushman, who in 1978 founded Cushman Rea…
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…
GSA, design-build partners balance sustainability, history
After nearly two years of construction, work is complete on what is slated to be the U.S. General Services Administration’s first site net-zero energy building on the National Register.
The GSA recently rededicated the 95-year-old Wayne N. Aspinall Federal Building and U.S. Courthouse at 400 Rood Ave. in Grand Junction.
The $15 million project, financed with American Recovery and Reinvestment Act funding, is designed not only to be the GSA’s first site net-zero energ…
Center City Plaza sells for $5.05m
Center City Plaza, a sought-after office/medical office building in Colorado Springs’ central business district, recently sold for $5.05 million.
Center City Holdings LLC, represented by Kevin O’Neil of The O’Neil Group Co., who also was a principal in the transaction, purchased the 37,000-square-foot building at 455 E. Pikes Peak Ave.
“Center City Plaza is the nicest building in the CBD under 50,000 square feet,” said Ted Link of Cascade Commercial…
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…
Rental home vacancy falls to 1.7%
The vacancy rate for rental single-family homes, townhomes and other small properties across metro Denver fell to 1.7 percent in the fourth quarter, according to a state report released today.
The vacancy rate was 2.1 percent in the fourth quarter of 2012 and 2.3 percent in the third quarter of last year, according to the report by the Colorado Division of Housing.
The lowest vacancy rates were found in Jefferson County and Douglas County where the vacancy rates were 1.3 percent…
On Deck launches Denver hub
On Deck announced today the opening of a new Western regional office in Denver. The Denver office, which opened with 16 employees, will expand to over 200 professionals in the next two years across sales, operations and technology functions. Governor John Hickenlooper and Mayor Michael B. Hancock presided at an inaugural ceremony for local small business owners, business partners and government officials.
“Having a Western regional hub allows us to better reach and se…
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…
RJM Construction starts Mercury Payment office renovations
RJM Construction has started a 65,000-square-foot office renovation for Mercury Payment Systems.
Mercury is expanding its existing space in the Metropoint II office building at 4610 S. Ulster St. in the Denver Tech Center.
RJM Construction is renovating space on the three floors to accommodate Mercury’s growing payment and call center services, including an expanded data center with 24/7 UPS service and an emergency backup generator. The sixth floor renovations will be com…