Winslow Report 10-18-16

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The Winslow Report, authored by John V. Winslow, is a compilation of transactions recently completed in Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson counties. The information was gathered from county records and deemed to be reliable. Other sources of research include brochures and information verified by owners or listing/selling brokers. Winslow is president of Winslow Property Consultants and has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.

Adams County

Property Location: 8410-8472 Federal Blvd., Westminster, “Summit Square”

Property Description: 94,244-sf shopping center, YOC 1979, masonry

Land Size: 10.58 acres

Sales Price: $13M, or $137.94/sf

Reception No.: 2016000078281

Closing Date: 9/16

Grantor: AZG Summit Square LLC, by: McElliot LLC, David Benson, manager

Grantee: Summit Square II LLC, Daniel Kaatz, manager, 303-292-3550

Financing: $1.7M, payable to Guaranty Bank & Trust Company, due 9-16-26

Comments: Last sale was for $9.38M dated 10-21-08. There are eight buildings. The seller is based out of Mesa, AZ, Arizona Gold Properties, 480-353-2900. The broker was CBRE retail team led by Matthew Henrichs, 720-528-6308. The anchor tenants include Inspire Fitness and Big Time Trampoline. The in-place cap rate was estimated to be 8.4%.

 

Property Location: 9785 Washington St., Thornton, “Kneaders Café”

Property Description: 4,101-sf fast-food restaurant, YOC 2016, stucco/masonry

Land Size: 0.06 acres

Sales Price: $2.86M, or $696.49/sf

Reception No.: 2016000078649

Closing Date: 9/16

Grantor: FFG Development c/o Four Foods Group, Andrew Smith, CEO

Grantee: Desert Orchid Investment Group, James C. Matthews, 114 Pacifica, Suite 310, Irvine, CA 92618

Financing: Cash

Comments: Lot 1B, Block 3, Highpointe Park Sub., Amended No. 4; see 2016000027439. Property is located on the southwest corner of E. 98th Ave. & Washington St. in Thornton. The lease in place dated 9-20-16 is for 15 years subject to four consecutive five-year extensions. There have been several Kneader Café investment transactions in the Denver metro area over the last two years.

 

Property Location: 7310 Broadway, Denver

Property Description: 1,891-sf convenience store with gas pumps, YOC 2006, & 805-sf drive-thru car wash, YOC 2006, 2,696 sf total area

Land Size: 22,500 sf

Sales Price: $2M, or $741.84/sf

Reception No.: 2016000078654

Closing Date: 9/16

Grantor: Ammco LLC, Ahmed Mohamed Sherif, manager

Grantee: AFMZS LLC, Asghar Sharifi, manager

Financing: $1.67M, payable to Valley Bank & Trust

Comments: It is unknown if this transaction is arm’s-length as the last name of the parties is similar.

 

Property Location: 1557 W. 84th Ave., Denver

Property Description: 9,430-sf strip retail center, YOC 1978, masonry

Land Size: 22,500 sf

Sales Price: $1.32M, or $139.41/sf

Reception No.: 2016000077380

Closing Date: 9/15

Grantor: Nassau East Real Estate LP, Melinda Quiat, manager, 303-759-1000, & D. Irey 84th & Pecos LLC, David C. Irey, Robert C. Irey & Linda M. Irey, 303-758-3131

Grantee: Otterfam, c/o Rich Otterstetter, 720-287-6860

Financing: $800,000, payable to AMG National Trust Bank

Comments: See APN: 01719-28-1-00-005. Seller David Irey was one of the founders of Dunton Commercial, fka Dunton Realty, and the buyer is a principal in Crosbie Real Estate Group. Otterstetter was formerly a broker/sales associate with Dunton Realty. The sales price appears to be in line with other retail properties of similar size and year of construction in the northwest Denver market. This property is located on the northeast corner of W. 84th Avenue and Pecos St.

 

Property Location: 10371 E. 106th Ave., Commerce City

Property Description: 12,000-sf warehouse, YOC 1998, metal construction

Land Size: 2.06 acres

Sales Price: $1.2M, or $100/sf

Reception No.: 2016000077859

Closing Date: 9/16

Grantor: Robert L. Bertrand Trust No. 1

Grantee: Rocky Mountain Properties 10371 East 106th Avenue LLC, Joseph Bomareto, member, 303-227-9126

Financing: $960,000 @ 5% & $6,335.58/month, fully amortized 20-year note, payable to Mark Bertrand of Robert L. Bertrand Trust No. 1

Comments: Buyer is the owner of Rocky Mountain Mobile Truck Service. See APN: 1721-10-0-05-012.

 

Arapahoe County

Property Location: Vicinity northwest corner of Jordan Road & E. Otero Circle North, at the Arapahoe/Douglas County line, Centennial

Property Description: 195 vacant lots, or 682,805 sf, paper platted lots only

Land Size: 36.21 gross acres, or 15.675 net acres

Sales Price: $7.12M, or $4.52/sf, gross, or $10.43/sf, net, $36,515/lot

Reception No.: D6112314

Closing Date: 10/3

Grantor: Jordan Road Properties LLC, Steven M. Cohen & Brett M. Perry, managers

Grantee: Meritage Homes of Colorado

Financing: Cash

Comments: Lots 1-195 Block 1, Tracts A-H, J-N, P, Q, R, S, T & Private Alleys A, B, D,E, F, Trails Edge. See Zoning Ordinance Reception No. D5128117, as referenced by zoning code RU, Urban Residential, annexed to city of Centennial, & plat Reception No. D6112312, which is part of 61.18-acre site that was paper platted by the seller 9-30-2016. The 195 lots contain a total of 15.68 acres and average 3,502 square feet; the private roads total 6.17 acres. The tracts total 14.36 acres.

 

Property Location: 5340 S. Quebec St., Greenwood Village

Property Description: 75,156-sf, three-story office building, YOC 1982, concrete panel

Land Size: 4.21 acres

Sales Price: $11.15M, or $148.36/sf

Reception No.: D6109284

Closing Date: 9/27

Grantor: GWP 5340 LLC, Stuart C. Ogilvie, president

Grantee: GWP LLC by: Paradigm Capital Ventures LLC, Paul C. Congleton, president

Financing: $7.25M, payable to United Omaha Life Insurance

Comments: See APN: 2075-16-2-11-001. Property sold to seller October 28, 2014, for $6.79M, or $90.28/sf. The buyer is a local investor based out of Greenwood Village.

 

Property Location: 6000 Greenwood Plaza Blvd., Greenwood Village

Property Description: 50,599-sf, two-story office building, YOC 1979, concrete panel

Land Size: 4.14 acres

Sales Price: $7.48M, or $147.73/sf

Reception No.: D6110824

Closing Date: 9/29

Grantor: F&C Farming, Fred L. Lagomarsino, manager, 559-735-9700, Elba Land LP, Gratias Group, Franmar Company LP, David Beretta, manager, P&R Almond Orchards LLC, Gary Romoff, secretary, Coldwater Farms Inc., Arnold Catani Jr., pres., & Thomas-Cattani Inc.

Grantee: Forcast LLC, James T. Schwartz Sr., manager, 574-273-1025, Granger, IN

Financing: $3.19M, payable to Wells Fargo Bank, NA, due 9-23-21

Comments: See APN: 2075-21-1-26-001. Property was listed by Aaron D. Johnson of Cushman & Wakefield, 303-813-6434. Lease information shows 2,308 sf available for lease at $21/square foot; contact Ryan Stout or Nate Bradley, nate.bradley@cushwake.com, at Cushman & Wakefield. Anchor tenant is Western Wealth Advisors LLC, Cain Kobert, president.

 

 

Property Location: 1550 S. Parker Road, Denver

Property Description: 14,823-sf freestanding retail building, YOC 2004, brick

Land Size: 2.61 acres

Sales Price: $4.34M, or $293.12/sf

Reception No.: D6113009

Closing Date: 10/3

Grantor: P&D Enterprises Inc., Pierre T. Barthle, president

Grantee: MCSI Properties Parker LLC, Michael J. Swartz, manager

Financing: $2.25M, payable to Public Service Credit Union, due 10-1-31

Comments: The transaction was handled by Jules Hochman, Adam Gower & Justin Krieger, 303-962-9558, of Pinnacle Real Estate Advisors. There is a 12-year lease with Wallaby’s Liquor warehouse, sale-leaseback, plus Verizon Cell. The seller purchased the property for $3.45M in September 2015 for his Wallaby’s Liquor Warehouse business and waited one year in order to facilitate capital gains status. The property originally was developed for an Eckert Pharmacy. JCPenney decided to sell its interest in the pharmacy company in 2004 and sold over a dozen of the new buildings, in some cases with the leases in place. See lease dated 3-7-14 with Verizon Wireless, D4018944 and D5011971. Property sold on an in-place cap rate of 7.25%.

 

Property Location: 601 Chambers Road, Aurora

Property Description: 13,948-sf, three-story office medical building, YOC 1980, masonry & wood siding

Land Size: 34,655 sf

Sales Price: $1.4M, or $100.37/sf

Reception No.: D6112864

Closing Date: 10/3

Grantor: Yen-Yen Yuan, 303-360-9909

Grantee: Arms LLC, Aleksandr “Alex” Guzman, manager, Castle Rock 80108

Financing: $1.12M, payable to Bank of the West

Comments: See APN: 1975-06-4-26-005. It is unknown if this sale is arm’s-length as the buyer is one of the owners of the major tenant, Injury Rehabilitation of Colorado. The seller owns Yen Laboratories, which is located in Suite 100 of 601 Chambers. Winslow Property Consultants LLC was unable to verify if the grantor and grantee were both employed with Injury Rehabilitation of Colorado. The property was not on the market as both parties occupied space in the building.

 

Property Location: 3840 S. Jason St., Englewood

Property Description: 6,598-sf industrial building, YOC 1958, masonry

Land Size: 9,975 sf

Sales Price: $530,000, or $80.33/sf

Reception No.: D6112149

Closing Date: 9/30

Grantor: JOJAJEFENNY LLC, Arliss H. Gelwick, member, 303-783-0081

Grantee: Henricoll LLC , c/o Jack Fox, 303-628-9500

Financing: Cash

Comments: Property last sold in September 2012 for $540,000 and is in the middle of the block on South Jason St., between W. Lehigh Ave. and West Mansfield Ave.

 

Boulder County

Property Location: 1853 26th St., Boulder, “The Hub Apartments”

Property Description: 83-unit, four-story apartment with 75,025 sf, YOC 1993, frame

Land Size: 2.27 acres

Sales Price: $25.2M, or $303,614/unit, or $335.89/sf

Reception No.: 03541897

Closing Date: 9/2

Grantor: Considine HUB Investor LLC, Holis Considine, manager

Grantee: The View Apartments, c/o Rivendell Global Real Estate Inc., 154 Grand St., 4th floor, NYC 10013, attn: Yonantan Linenberg, manager, www.rivendellglobal.com

Financing: Assumption of $11.36M loan dated 2-1-13 payable to Red Mortgage Capital LLC

Comments: Buyer phone number is 646-661-2425 and email address is Yonatan@rivendellglobal.com. The property was listed and sold by ARA team including Andy Hellman, Shane Ozment, Terrance Hunt, Justin Hunt, Jake Gannon & Amanda Meldrum, 303-260-4400. The average-size unit is 904 sf with a rental rate of $1.83/sf. Renovated one-bedroom units @ 614 sf are renting at $2.46, with two-bedroom/two-bath units, renovated, starting at $2.19/sf. The three-bedroom/three-bath units start at $1.85/sf and the renovated three-bedroom units start at $2.02/sf. There are 18 carports and 73 open spaces for a total of 91 spaces.

 

Property Location: 2870 28th St., Boulder, “Walgreens”

Property Description: 14,737-sf retail building, YOC 2009, masonry

Land Size: 1.38 acres

Sales Price: $9.76M, or $662.09/sf

Reception No.: 03545777

Closing Date: 9/21

Grantor: Bluebird Wag Boulder LLC, Mark E. Patten, SVP of Consolidated-Tomoka Land Co., 386-944-5643 or mpatten@ctlc.com

Grantee: SBMC Retail Portfolio LLC, Robert K. Barth, manager, c/o Black Equities Group, 310-278-5333, Beverly Hills, CA 90210

Comments: See R0515693 for Boulder account no. Lot 1, Thompson Subdivision, Replat A, recorded 3024296. Seller owns several Walgreens drugstores, CVS, Rite Aid and other single retail outlets.

Property Location: 1750 15th St., Boulder, “Liquor Mart”

Property Description: 29,256-sf retail building, YOC 2009, masonry

Land Size: 1.7 acres

Sales Price: $9M, or $307.63/sf

Reception No.: 03545777

Closing Date: 9/21

Grantor: Tuff Investors LLC, Donald J. Humphrey, manager

Grantee: P125678 LLC, 1375 Walnut St., Suite 100, Boulder 80302

Comments: See 1463-303-52-004 for this property located on the southeast corner of 19th Street & Canyon Blvd. Lease agreement was dated 1-31-2002 and amendment to lease agreement was dated 9-21-16.

Property Location: 1610-40 Pace St., Longmont, “Fox Creek Marketplace”

Property Description: 25,254-sf strip center, YOC 2000, masonry construction

Land Size: 4.36 acres

Sales Price: $7.7M, or $304.90/sf

Reception No.: 03543669

Closing Date: 9/14

Grantor: DellaCava Fox Creek Associates LLC, Louis J. DellaCava, manager, et al.

Grantee: ISO Fox Creek Holdings LLC, c/o ISO Beauty, 818-771-9359

www.isobeauty.com. 9111 Winnetka Ave., Chatsworth, CA 91311

Comments: Lot 1 & 3, Block 1, Safeway Fox Creek Marketplace. The property was listed by JLL and was 100% leased and was shadow anchored by Safeway and across the street from the King Soopers-anchored Fox Creek Village Shopping Center. See 1205-36-2-28-001 = 20,373 sf on 3.05 acres & 1205-36-2-28-003 = 4,900 sf on 1.31 acres.

 

Property Location: W/S U.S. Highway 287, between W. South Boulder Road & Empire Road, Lafayette

Property Description: 58 vacant lots

Land Size: 395,609 sf

Sales Price: $7.65M, or $19.34/sf, or $131,897/lot

Reception No.: 03543774

Closing Date: 9/14

Grantor: Meritage Homes of Colorado Inc.

Grantee: Richmond American Homes of Colorado Inc.

Comments: Lots 1-7 Block 1, Lots 1-25, Block 3, Lots 1-6 Block 4, Lots 18-23, Block 4, Lots 4-17, Block 5, Trails at Coal Creek Filing No. 1.

 

Property Location: 1685 Boxelder St., Louisville, “Kitchens by Wedgewood”

Property Description: 22,728-sf, two-story office/warehouse building, YOC 1997, masonry block

Land Size: 1.85 acres

Sales Price: $2.95M, or $129.80 sf

Reception No.: 03544806

Closing Date: 9/19

Grantor: Arizona Gold LLC, Sim Walker, member, 303-664-1700

Grantee: RLET Boxelder LLC, W. Cotton Burden, manager, 303-652-8868

Financing: $2.07M, payable to Wells Fargo Bank, NA

Comments: Lot 10, Block 4, Colorado Tech Center, First Filing, Listed by Thomas Hill of WK Real Estate, 720-312-1971, Eric Rutherford, 303-541-1908, & Gary Collins, 303-898-3531. The main level has 19,770 sf, which includes 4,070 sf of office space and 15,700-sf warehouse space. The second floor has 3,030 sf of office space for a total of 22,728 sf. The lease rate is approximately $9.09/sf with 3% increments, with expenses at $3.50/sf. Based on lease rate as shown on listing broker’s brochure, the in-place cap rate is 7%. There are approximately six to seven years remaining on the lease. Keith E. Burden is VP of the company involved in acquisitions, 303-652-8868.

Property Location: 1371 Horizon Ave., Lafayette

Property Description: 21,480-sf office/warehouse, YOC 2005, four overhead doors, reinforced concrete driveway and parking, masonry, zoned M-1

Land Size: 1.65 acres

Sales Price: $2.44M, or $113.36/sf

Reception No.: 03543861

Closing Date: 9/15

Grantor: Robert E. Pritchard, 303-666-8466

Grantee: Lafayette Horizon Avenue Real Estate Inc.

Comments: Property on the market since December 2015. Bob Pritchard, seller, is the president of Servtech Inc., which is the tenant in the building. It is unknown if the buyer is an investor; however, the name did not show up in the Secretary of State information.

Property Location: 1002 Walnut St., Suite 300, Boulder

Property Description: 4,734-sf office condo, third floor with elevator

Land Size: 1.65 acres

Sales Price: $1.9M, or $401.35/sf

Reception No.: 03542552

Closing Date: 9/7

Grantor: HW Properties LLC, Timothy Beaton, manager

Grantee: Intuitive Walnut LLC, 5600 Arapahoe Unit 200, Boulder 80302

Comments: Unit 301B, 1002 Walnut Condominiums. Gary A. Aboussie, Principal with Colorado Group, 303-449-2131, Ext. 129, listed the property for $2.32M, or $26 to $28/sf triple net, plus $1,175/month association dues. There are 11 private offices, two conference rooms, three private decks.

 

Property Location: East Side of S. Fordham St., approx. 600’ south of Dry Creek Road, Longmont

Property Description: Vacant land, 50-bed nursing facility proposed

Land Size: 3.93 acres

Sales Price: $1.4M, or $8.17/sf

Reception No.: 03545629

Closing Date: 9/22

Grantor: Triumph Investments LLC, et al., Donald Macy, manager, 303-321-8888

Grantee: Longmont Health Realty LLC by: SCI Construction Ltd.,

Brandon Parker, VP, 903-592-9311, Tyler, TX 75703

Comments: See Lot 7B, 03523012 for new plat approved in June. For more details, contact Karen Bryant of city of Longmont Planning Department.

Property Location: 312 CTC Blvd., Louisville

Property Description: Vacant industrial land

Land Size: 4.24 acres

Sales Price: $930,000, or $5.04/sf

Reception No.: 03542567

Closing Date: 9/9

Grantor: Leslie S. Malone

Grantee: CTC Commercial III LLC, Stephen E. Meyers, manager, 2305 Canyon Blvd., Suite 200, Boulder 80302

Financing: $568,000, payable to Guaranty Bank & Trust

Comments: Proposed 36,487-sf warehouse to be completed by June 2017. Property is listed for lease by Chris Boston, CCIM, or Stacy Kearns at 303-442-1040, Gibbons-White Inc. Property is located on the SEC of Dogwood St. & CTC Blvd. Lease rate is $12 triple net, $4.50 expenses. See www.gibbonswhite.com.

 

Property Location: 206 S. Main St., Longmont

Property Description: 12,005-sf fraternal lodge, YOC 1969, twin tee construction, 6,000-sf meeting hall with bar in the walk-out basement area

Land Size: 47,443 sf

Sales Price: $875,000, or $72.89 sf

Reception No.: 03544752

Closing Date: 9/19

Grantor: VFW Longs Peak Post No. 2601, Raul Shockley, commander, & Leon Bartholomay, quartermaster

Grantee: UWG 10 LLC, David Elowe, manager, 303-995-2500

Comments: Property was on the market since July 2015.

Property Location: 599 Crossing Dr., Lafayette, “vacant Burger King restaurant”

Property Description: 3,765-sf restaurant, 1997, stucco

Land Size: 40,930 sf

Sales Price: $740,000, or $196.55/sf

Reception No.: 03545650

Closing Date: 9/21

Grantor: The Lukas Family LP by: Lufamco Inc., Margaret Lukas, president

Grantee: 599 Crossing LLC, Mark Licata, manager, 725 7th St., Boulder 80302

Comments: Listed by Colorado Group, Audrey Berne, 303-449-2131, Ext. 121

 

Property Location: 464 Main St., Longmont

Property Description: 3,025-sf retail building, YOC 1910, masonry, 3,025-sf first floor, 3,000-sf unfinished second floor and 3,000-sf finished basement

Land Size: 3,049 sf

Sales Price: $691,076, or $268.45/sf

Reception No.: 03543636

Closing Date: 9/6

Grantor: Miller Music LLC, Seth Miller, manager

Grantee: 464 Main LLC, Danniel L. Gust, manager

Financing: $920,000, payable to Rawlins National Bank

Comments: Rhett Strom, 970-692-4454, of The Group Inc. listed the property for $889,000. Only one bathroom in building on first floor

 

Property Location: West side of Horizon Ave., ½ mile east of S. 120th St. intersection with Commerce Ct., Lafayette

Property Description: Vacant land

Land Size: 3.21 acres

Sales Price: $295,000, or $2.11/sf

Reception No.: 03545184

Closing Date: 9/19

Grantor: 5035 Chaparral LLC, Thomas G. Robichaud, member

Grantee: Northwoods Properties LLC, Brian M. Fricano, manager

Comments: Lot 21, Vista Business Park, Lafayette, see APN: 1575-120-05-003.

Denver County

Property Location: 7800 E. Tufts Ave., Denver, “Hyatt Regency DTC”

Property Description: 13-story, 451-room hotel, 421,000 sf including 30,000-sf exhibit area, state-of-the-art amphitheater, YOC 1985. There is a 600-space, five-story parking garage

Land Size: 6.2 acres

Sales Price: $96M, or $212,860/room, or $228.03/sf

Reception No.: 2016130130

Closing Date: 9/22

Grantor: JMIR Denver Hotel LLC, Bryant Burke, VP, 111 Congress Ave., Suite 2600, Austin, TX 78701, Gregory W. Clay, president, 512-539-3600, www.jmirealty.com

Grantee: CP Denver LLC, by: Columbia Sussex Corp., 858-578-1100,

740 Centre View Blvd., Crestview Hills, KY 41017, attn: Christopher J. Ballad, CFO

Financing: $56M payable to Natixis Real Estate Capital LLC

Comments: This property is located at the northwest corner of S. Ulster & E. Union Ave. This hotel sold in September 2013 for $57.6M.

 

Property Location: 425 S. Galena Way, Denver, “Stratford at Lowry Apts.”

Property Description: 142-unit two- & three-story apartment w/eight buildings, 116,864 sf, YOC 1979, masonry and frame

Land Size: 5.49 acres

Sales Price: $20.75M, or $146,127/door, or $117.56/sf

Reception No.: 2016136280

Closing Date: 9/30

Grantor: JSP Lowry LLC by: Jackson Square Apartments, Kyle Bach, CEO

Grantee: VCM Stratford at Lowry LP by: Vukota Capital Management, Tom Vukota, manager, 303-743-4037

Financing: $16.6M, payable to CBRE Capital Markets Inc., due 10-1-26

Comments: The property was listed and sold by ARA Newmark, Jeff Hawks, Terrance Hunt, Doug Andrews, Shane Ozment, Anna Stevens and Amanda Meldrum. There are 64 one-bedroom units @ 690 sf that rent for $1.41/sf; 24 two- bedroom/one-bath units @ 900 sf that rent for $1.30/sf; 48 two-bedroom/two-baths @ 1,000 sf that rent for $1.37/sf; eight studios @ 532 sf, renting for $1.61/sf. Seventy-three units have been renovated, which reflects increases in rents of 9 to 21 cents per sf, depending on the size. There are 20 carports and 282 open spaces for a total of 302 parking spaces, or 2.13 spaces/unit.

 

Property Location: 1535 Grant, “Barrister Apartments”

Property Description: 29-unit, three-story apartment building, completely renovated, 14,154 sf, YOC 1909, masonry

Land Size: 9,394 sf

Sales Price: $5.5M, or $189,655/door, or $388.58/sf

Reception No.: 20161135529

Closing Date: 9/30

Grantor: 1535 Grant LLC, Scott A. Woodward, manager

Grantee: Patrick B. Sullivan, Marilyn G. Sullivan, Julie A. Rice, aka Julie A. Davis, and Donald L. Saffer, trustee of Saffer Revocable Trust, Lantana, TX

Financing: 1031 exchange

Comments: This property was listed by Kevin Calame & Matt Lewallen of Pinnacle Real Estate Advisors and the buyer was represented by Greg Johnson, 303-343-8333, & Kyle Malnati, 303-358-4250, of Madison Commercial Properties. The property contains original stained-glass windows, high ceilings, new kitchens and bathrooms, wood flooring; fully renovated in 2016. The property was converted from an office building to 29 studio units. There are two off-site parking spaces. The expenses for this property reflect approximately $3,700/door, with an average rental rate of $1,115/apartment unit.

 

Property Location: 59-65 Ogden St., Denver, “Patina Apts. & Sublime Apts.”

Property Description: 11-unit, three-story apartment building, 7,026 sf, YOC 1957, brick, and 11-unit, three-story apartment, 5,803 sf, YOC 1960 sf, brick construction, 22 units totaling 12,829 sf

Land Size: 12,500 sf

Sales Price: $4.38M, or $212,860/unit, or $228.03/sf

Reception No.: 2016133678

Closing Date: 9/28

Grantor: Incense Holdings LLC, Thomas F. Willisch, manager

Grantee: DNVRPROP2 LLC, George J. Pardos, manager

Financing: $3M, payable to JPMorgan Chase, due 10-1-46

Comments: One-bedroom at 59 Ogden rents for $1,220 to $1,270/month. All units are completely renovated and contain 534 sf. Each unit has new wood floors, dishwasher, countertops and wood cabinets.

 

Property Location: 1444 Lafayette St., Denver, “The Leonard”

Property Description: 12-unit, three-story apartment building, 7,395 sf, YOC 1911

Land Size: 6,250 sf

Sales Price: $2.22M, or $185,000/door, or $300.20/sf

Reception No.: 2016118953

Closing Date: 9/2

Grantor: Del Valle Consultants LLC & Pi4 LLC, Clarence Pfeifer Jr.

Grantee: 1444 Lafayette LLC, Tyler L. Stevens, manager

Financing: $1.41M, payable to Sabal Capital II, due 9-1-23

Comments: The property was listed by Greg Johnson, 303-343-8333, & Kyle Malnati, 303-358-4250, of Madison Commercial Properties. There are 12 one-bedroom apartments containing 550 sf with average rental rate of $1,065/month.

 

 

Property Location: 1150 Delaware St., Denver

Property Description: 6,038-sf, two-office building, YOC 1987, brick

Land Size: 19,531 sf

Sales Price: $1.9M, or $314.67/sf

Reception No.: 2016135329

Closing Date: 9/30

Grantor: OCx Holdings LLC, Trinh Pham & Peter Niepoth, manager

Grantee: 1150 Delaware NBD LLC, Robert S. Boswell, Charles L. Boswell, Peter A. Eklund, Matthew C. Ferlic & William Loeffler, managers

Financing: $1.83M, payable to MidFirst Bank, due 10-10-26

Comments: Listed and sold by Tim Finholm & Sam Leger of Unique Properties Inc., 303-321-5888. The building was renovated in 2008 and has 10 parking spaces. There was a new roof completed in 2016.

 

Property Location: 4900 E. Colfax Ave., Denver, “Former Red Octave Restaurant”

Property Description: 4,182-sf restaurant, YOC 1932, 1,500-sf retail building, YOC 1945 & 1,087-sf house

Land Size: 19,531 sf

Sales Price: $1.5M, or $221.60/sf

Reception No.: 20161135529

Closing Date: 9/30

Grantor: 4900 E. Colfax LLC, Philip J. Long, manager

Grantee: Colfax Central LLC, Stephen F. Elken, manager, 303-778-0380, Denver

Financing: Cash

Comments: The legal is Lots 1-6, north 6.25’ Lot 7, Resubdivison of Block 6, Bellevue, 1476 Eudora & 4900-4914-4916-4918 E. Colfax Ave. Tenant at 4914 E. Colfax was Crooked Willow Design, 303-495-3555. Buyer is www.elkco.com. It is unknown if the buyer plans to redevelop the site or continue operating the property as a restaurant, retail building and a single-family residence. The restaurant appears to be in good condition.

 

Property Location: NWC & SWC Alton St. & E. 59th Place, Denver

Property Description: 28 vacant lots

Land Size: 71,429 sf

Sales Price: $1.79M, or $25.09/sf, or $64,000/lot

Reception No.: 2016134791

Closing Date: 9/29

Grantor: FC Stapleton II LLC, Brian Fennelly, VP

Grantee: KB Home Colorado Inc.

Financing: Cash

Comments: Lots 18-39, Block 19 & Lots 1-6, Block 20, Plat of Stapleton Filing No. 49; see 2016106705. The average size lot is 2,551 sf. The aggregate price on both sales was $2.77M, or $66,000/lot, with a net price of $23.29/square foot. KB Homes took down 42 lots in the new Stapleton filing.

 

Property Location: W/S Alton St., 110’ north of 58th Dr., Denver

Property Description: 14 vacant lots & one tract

Land Size: 47,599 sf

Sales Price: $980,000, or $20.59/sf, or $70,000/lot

Reception No.: 2016135072

Closing Date: 9/29

Grantor: FC Stapleton II LLC, Brian Fennelly, VP

Grantee: KB Home Colorado Inc.

Financing: Cash

Comments: Lots 7-20, Block 20 & Tract DW, Plat of Stapleton Filing No. 49; see 2016106705. There are 14 lots totaling 47,599 sf and one tract totaling 16,777 that is used for open space. The average size lot is 3,400 sf. The aggregate price on both sales was $2.77M, or $66,000/lot, with a net price of $23.29/square foot. KB Homes took down 42 lots in the new Stapleton filing.

 

Property Location: 3478 W. 32nd Ave., Denver

Property Description: 3,043-sf, two-story office building, YOC 1909, brick

Land Size: 3,150 sf

Sales Price: $925,000, or $303.98/sf

Reception No.: 2016136365

Closing Date: 9/30

Grantor: Kevin Aler Saehlenou

Grantee: Complex3478 LLC, John Cox & David J. Binkowski, managers

Financing: $601,250, payable to Bank of the West

Comments: See APN: 02293-04-060. The tenant’s principal, David Binkowski, 303-916-7777, owner of Berkshire Hathaway Homes Services, purchased the property from the landlord. Second floor is used for training area and portion of it has been used as a studio apartment.

 

Property Location: 2868 Fairfax St., Denver

Property Description: 1,906-sf restaurant, YOC 1927, masonry

Land Size: 6,250 sf

Sales Price: $650,000, or $388.58/sf

Reception No.: 2016135033

Closing Date: 9/29

Grantor: Jamyang Tenzin

Grantee: Park Hill Commons LLC c/o Top Rock LLC, Ralph J. Nagel, manager

Financing: Cash

 

Douglas County

Property Location: 9127-9189-9191 S. Jamaica St., Englewood,

“CH2M Global Headquarters”

Property Description: 370,485-sf, three building office campus, YOC 2002

Land Size: 13.08 acres

Sales Price: $122M, or $329.30/sf

Reception No.: 2016066766

Closing Date: 9/22

Grantor: Wells REIT II – South Jamaica Street LLC c/o Columbia Property Trust, Kevin A. Hoover, SVP, Atlanta, GA 30328

Grantee: AGNL Engineering LLC c/o Angelo, Gordon & Company LP, 245 Park Ave., 24th Floor, NYC, NY 10167-0094

Financing: Cash

Comments: See APN: 2231-110-19-004 & 2231-101-02-005, Lot 1A, Block 26, Lot 1A, Block 27, now known as Lot 1A-1 Block 27, Meridian Office Park No. 1, 35th Amendment, see Reception No. 2016037658. The transaction was handled by Kevin Shannon, Ken White, Laura Stumm, Dave Tilton, Jamie Gard, 303-260-4341, & Jeff Castleton, 303-260-4391, of Newmark Grubb Knight Frank. There are two 112,634-sf, four-story office buildings and a 164,508-sf, five-story office building, YOC 2002. Michelle Goudeaux of Columbia Property Trust was the property manager for the seller, 650-324-3805. Darik Afshani of Columbia Property Trust was the asset manager, 404-465-2141.

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