Winslow Report 11-22-16

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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: 2200 Himalaya Road, Aurora, “KeHE Distributors”

Property Description: 270,000-sf warehouse, includes 60,000-sf cooler space, Certificate of Occupancy was 8/24/16

Land Size: 31.73 acres

Sales Price: $31.9M, or $118.15 psf

Reception No.: 2016000092558

Closing Date: 10/27

Grantor: Scannell Properties 218 LLC, Jill Marcotte, senior director, 303-385-8510

Grantee: Buckhead Aurora Industrial LLC

Comments: Property was developed by the grantor for KeHE Distributors.

 

Property Location: 8085-8095 Oneida St., Commerce City

Property Description: 36,000-sf warehouse, two 18,000-sf buildings, YOC 2015, metal construction, 48 drive-in doors, 24 doors at 14’ x 12’ and 24 rear drive-in doors @ 12’ x 12’. The fenced storage yard is approximately 21,600 sf.

Land Size: 3.86 acres

Sales Price: $4M, or $111.11 psf

Reception No.: 2016000091144

Closing Date: 10/24

Grantor: Oneida Street Partners LLC, Randolph Weil, manager

Grantee: Dexter Street Six LLC, Ronald J. Boshart, manager

Financing: Payable to Blue Federal Credit Union

Comments: This property was listed for sale by Nick Schill of Pinnacle Real Estate Advisors, 303-358-9337. The property sold on an in-place cap rate of 7.5%, with 15 tenants and 100% occupancy. The lease rate is $9.76 psf modified gross and expenses are $1.44 psf. See APN: 01721-29-4-05-020. Seller acquired this property in February of 2010 for $1.05M.

 

Property Location: 8651 Grant St., Thornton

Property Description: 16,631-sf, two-story retail building, YOC 2002, masonry

Land Size: 45,833 sf

Sales Price: $1.85M, or $111.24 psf

Reception No.: 2016000092558

Closing Date: 10/28

Grantor: D and D Holdings LLC, Ryan Boykin, manager

Grantee: Moreland Arizona Properties LLC, Doug Moreland, manager

Comments: The property is the Tool Zone and was listed by Ray Rosado, CCIM, 720-209-5546, Cushman & Wakefield. The Tool Zone occupies 10,883 sf and Inspire Talent occupies 5,798 sf on the second floor. The projected 2017 NOI is $187,661 reflecting an in-place cap rate of 10.14%. The estimated expenses for 2016 are $3.13 psf. Mark Von Engeln represented Doug Moreland in the transaction, 303-888-0863.

Arapahoe County

Property Location: 7301 S. Santa Fe, Littleton, “Aspen Grove”

Property Description: 266,970-sf shopping center, nine buildings, YOC 2001-2003, stucco/wood, includes Suite 850 – 31,693 theater; Suite 900 – 4,995-sf Chick-Fil-A; Suites G-1 through G7 – 13,010-sf strip center building; Suite 210-250, 32,534 sf; Suite 310-350 – 19,730 sf; Suite 410-450 – 44,509-sf strip building; Suites 510 to 530 – 38,253 sf; Suites 610-650 – 36,535 sf; Suites 710-730 – 46,999 sf, total 268,258 sf

Land Size: 32.743 acres

Sales Price: $82M, or $202.84 psf

Reception No.: D6123278

Closing Date: 10/24

Grantor: DDR Aspen Grove Lifestyle Center Properties LLC, Daniel Sutherland, VP of transactions, 720-204-4618: Ohio Corporate Office: 877-225-5337

Grantee: Aspen GRF2 LLC c/o Gerrity Group, William Gerrity, CEO, & Ron Mourey, principal, 858-369-7000, Solana Beach, CA 92075

Comments: See APN: 2077-29-3-03-002, 2077-29-4-23-002. 2077-29-4-25-001, 2077-29-4-24-001, Anchor tenants include: Alamo Drafthouse Cinema – 31,693 sf; Pier One Imports – 10,523 sf; Kirkland’s – 8,839 sf; The Gap – 10,762 sf, Apple Store – 6,281 sf, Ulta Beauty – 8,740 sf; Banana Republic – 8,089 sf; Rice Bistro & Sushi – 4,987 sf; Pottery Barn – 10,007 sf; Eddie Bauer – 5,536 sf; Williams-Sonoma – 5,224 sf; Talbots – 9,376 sf; Avalon Salon & Day Spa – 5,340 sf; Tattered Cover – 8,005 sf; Lane Bryant – 5,280 sf; Starbucks Coffee – 1,600 sf; Noodles & Company – 3,000 sf; The Children’s Place – 4,500 sf; Christopher & Banks – 3,226 sf; Ted’s Montana Grill – 4,495 sf; Verizon Wireless – 3,405 sf; Jos A Bank – 4,956 sf; Panera Bread – 4,208 sf; Chick-Fil-A – 4,995 sf; Evereve – 2,754 sf; Qdoba Mexican Grill – 2,219 sf; The Bistro at Aspen Grove – 4,165 sf; Hallmark – 4,030 sf. According to the seller’s website, the property has nine spaces available for lease totaling 31,074 sf. www.ddr.com.

 

Property Location: 8501-8577 E. Arapahoe Road, “Arapahoe Marketplace,” Greenwood Village

Property Description: *186,993-sf shopping center, YOC 1989, masonry

Land Size: 16.22 acres

Sales Price: $68.75M, or $367.63 psf

Reception No.: D6129215

Closing Date: 11/8

Grantor: Loja Arapahoe LLC, Scott Kyman, VP of acquisitions, 925-935-4405

Grantee: CLPF – KSA Grocery Portfolio Greenwood Village LLC, by: Clarion Partners, www.clarionpartners.com, 213-488-2020, attn: Bryan Crane, director, 601 S. Figueroa St., Suite 3400, LA 90017

Comments: Sold July 2014 for $46.24M. Listed and Sold by Tim Richey and Mike Winn of CBRE Inc. Includes Sprouts, Barnes & Noble, Office Depot, Vitamin Shop, GNC, Goodwill Store, *Seven buildings totaling 186,993 sf as per Arapahoe County; 170,355 sf as per former leasing broker with 4,726 sf available.

Property Location: 5051 S. Acoma St. & 105-135-165-195 W. Belleview Ave. & 100-130-140 W. Grand Avenue, Englewood, “Brix on Belleview”

Property Description: 175-unit, three-story apartment complex, 117,580-sf net rentable area, 11 buildings plus clubhouse, YOC 1961

Land Size: 47,473 sf

Sales Price: $25.75M, or $147,143 per unit, or $219 psf

Reception No.: D6125000

Closing Date: 10/31

Grantor: Broadway and Belleview LLC, by: Avenue North LLC, Ryan Hartman, manager, 480-907-4010, ryan@ave-north.com

Grantee: SSP Brix LLC & SSP 2633 West 25th Delaware LLC c/o Slipstream Development Company LLC, Peter Eklund, manager, 303-328-0008

Financing: $20.6M, payable to CBRE Capital Markets Inc., due 11-1-26

Comments: See APN: 2077-10-3-24-013, 014, 015, 016, 025, 026, 029, 030, 035. The property is bounded by the northwest corner of S. Acoma and West Belleview; southwest corner of W. Girard Avenue and S. Acoma St. The unit mix includes: Hampden – six 465-sf studio units, rented for $1.82 psf; Broadway floor plan – 22 525-sf, one-bedroom/one-baths that rent for $1.72 psf; Emerson floor plan – 28 540-sf, one-bedrooms that rent for $1.84 psf; Hillside floor plan – 36 560-sf, one-bedrooms that rent for $1.83 psf; Marion floor plan – 36 two-bedroom, one-bath units of 770 sf that rent for $1.46 psf non-renovated & $1.66 psf renovated; Logan floor plan – 23 795-sf, two-bedroom/one-baths; Union floor plan – 16 840-sf, two-bedroom/one-baths @ $1.54 psf; Evans floor plans – eight 1,065-sf, three-bedroom/two-baths that rent for $1.29 psf. This property was negotiated by the CBRE Inc. Denver Multifamily team including David Potarf, Daniel Woodward, Matt Barnett & Jake Young.

 

Property Location: 1140-1190 S. Bellaire St., Glendale

Property Description: Three apartment buildings totaling 64 units w/ 43,876 sf, YOC 1962 & 1969, brick

Land Size: 47,473 sf

Sales Price: $8.9M, or $139,063 per unit, or $202.84 psf

Reception No.: D6121242

Closing Date: 10/21

Grantor: Glendale Red Brick LLC & Argo Denver LLC, James B. Vincent & Nicholas Scott Vincent, managers

Grantee: Urban Neighborhood Denver LLC c/o The Laramar Group LLC, Josh Mullins, manager

Comments: See APN: 1973-19-2-01-009 & 1973-19-2-01-005. The building was renovated, including new appliances, new light fixtures and cabinets. This property was sold by the ARA multifamily team.

 

Property Location: South corner of Copperleaf Blvd. & E. Radcliff Pkwy., Aurora

Property Description: 84-platted lots plus unplatted land

Land Size: 14.642 acres net

Sales Price: $8.39M, or $94,839 per lot, or $13.15 psf net

Reception No.: D6124930

Closing Date: 10/28

Grantor: SQH Residential Investors, Marc Cooper, secretary

Grantee: South Quincy Residential Developers Inc., Richard A. Frank, VP

Comments: Part Lot 2, Block 2, Copperleaf Filing No. 2; Lots 1-22, Block 1, Lots 1-23, Block 2, Lots 1-10, Block 3, Lots 1-13, Block 4, Lots 1-16, Block 5, 84 lots in 14.642 acres, with an average of 7,593 sf per lot; Tracts M3-1, M3-3 & M3-4, 1.115 acres, all in Copperleaf Filing No. 10, Parcel C: Lot 1, Block 43, Copperleaf Filing No. 2.

 

Property Location: E/S East Southshore Pkwy., 300’ south of East Euclid Dr., Aurora

Property Description: 113 vacant lots

Land Size: 26.56 acres +/-

Sales Price: $7.86M, or $69,451 per lot, or $6.78 psf

Reception No.: D6126036

Closing Date: 11/1

Grantor: Southshore Recovery Acquisition LLC, Jon Shumaker, manager

Grantee: Toll CO II LP, Mark Bailey, division president, Englewood

Comments: Lots 1-51 Block 1; Lots 1-36, Block 2; Lots 1-26, Block 3, Southshore at Aurora Subdivision Filing No. 10.

 

Property Location: 7450 E. Progress Pl., Greenwood Village, “Grease Monkey International Headquarters”

Property Description: 14,300-sf, single-story office building, YOC 1968

Land Size: 1.96 acres

Sales Price: $3M, or $202.70 psf

Reception No.: D6125228

Closing Date: 10/28

Grantor: Progress Place Investments LLC, John B. Adams, CEO, 303-308-1660

Grantee: Leeds West Property Group LLC, Judd Shader, manager, 303-980-8748

Financing: $2.4M, payable to Alpine Bank, due 10-30-26

Comments: The buyer owns and operates Big O Tires, Midas & Speedee Oil locations throughout the United States. The buyer will occupy the space in summer 2017. The property sold in May of 2011 for $1.6M. The seller will lease back the space for an unspecified period of time.

 

Property Location: SWC E. Arapahoe Place & S. Blackhawk St., Centennial

Property Description: Vacant land, proposed Bobby Rahal Auto Dealership

Land Size: 8.7 acres

Sales Price: $2.96M, or $7.90 psf

Reception No.: D6126729 & D6111316

Closing Date: 11/3 & 9/30

Grantor: R&R LLC, Walid Maaliki, manager, & Jordan-Arapahoe LLP, Jean Graham & Chris Wittenbrink, partners

Grantee: Team Rahal Centennial Inc. c/o Bobby Rahal Automotive Group, Ron Ferris, CEO, 717-691-5600, 6715 Carlisle Pike, Mechanicsburg, PA 17050

Comments: See APN: 2073-30-2-07-001, 002, 003, 004, 006, 007. Lots 1-6, Block 1, Centennial East Corporate Center, 2nd Filing. This property was listed by Kittie Hook, 303-260-4395, & Wade Fletcher, 303-260-4319, of Newmark Grubb Knight Frank. The buyer was represented by Brian Shorter, 303-370-7462, of SullivanHayes. The two sales were recorded via separate special warranty deeds for $1.6M and $1.395M, respectively, and are contiguous and combined to reflect the combined purchase price. The total sales price that was paid by Team Rahal was $3M, or $7.90 psf. The corner parcel containing 2.6 acres sold for $14.13 psf, while the non-Arapahoe Road frontage land, 6.1 acres, sold for $5.25 psf.

 

Property Location: 4615 S. Broadway, Englewood “Broadway Discount Liquors”

Property Description: 4,745-sf retail building, YOC 1960, masonry

Land Size: 7,812 sf

Sales Price: $1.23M, or $258.17 psf

Reception No.: D6116073

Closing Date: 10/7

Grantor: Kyung Joo Seo

Grantee: Sher E. Punjab LLC, Surjit Singh & Raghbir Singh, managers, 303-789-2999

Financing: $1.77M, payable to Hanmi Bank, Los Angeles, CA, due 10-5-41

Comments: See APN: 2075-10-2-00-005. Buyers plans to use building for their liquor store business.

 

Property Location: North Corner S. Chambers & E. Briarwood Circle, Aurora

Property Description: Vacant, proposed multifamily

Land Size: 4.55 acres

Sales Price: $1.2M, or $5.92 psf

Reception No.: D6122900

Closing Date: 10/26

Grantor: BRE DDR Cornerstar CO LLC, Kenneth L. Stern, SVP

Grantee: Second Act Residences LLC, Steven Kreisman, manager, 303-741-5666

Financing: $850,000 payable to Thomas R. Kowalski, trustee of Respond Corp 401K

Comments: See APN: 2073-29-2-06-002. 2073-29-2-06-003. Lots 2-3, Block 1, Cornerstar Subdivision, Filing No. 1, or file plat B7134938. The buyer indicated from the Secretary of State is Kenneth M. Slyzuik of Elizabeth.

Boulder County

Property Location: 3100 Pearl St., Boulder, “Solana Apartments”

Property Description: 319-unit, four-story apartment complex, 273,131 sf YOC 2014, brick/stucco/panel siding, 341-space garage, including 41 oversized spaces

Land Size: 4.19 acres

Sales Price: $136M, or $426,332 per unit, or $497.93 psf

Reception No.: 03553882

Closing Date: 10/28

Grantor: Pearl Street Apartment Investors LLC c/o UBS Realty Investors LLC, William P. Robertson, exec. dir., & Steven T. Miele, dir., 860-616-9000

Grantee: 3100 Pearl Owner LLC c/o Rockwood Capital LLC, 140 E. 45th St., 34th floor, New York City, NY 10017, attn: *David Streicher, partner, 212-402-8500 Financing: $61.65M, payable to Northwestern Mutual Life, due 11-10-23

Comments: Listed and sold by ARA team including Doug Andrews, Jeff Hawks, Terrance Hunt, Shane Ozment, Chris Cowan, Anna Stevens & Amanda Meldrum. There are 36 studios from 573 sf to 670 sf; seven floor plans of one-bedroom/one-bath units totaling 158 units, ranging from 670 sf to 932 sf; two floor plans of two-bedroom/one-bath units ranging from 969 sf to 980 sf, totaling 30 units; five floor plans of two-bedroom units/two-baths units ranging from 1,072 sf to 1,184 sf, totaling 95 units. The average size unit is 856 sf with an average rental range of $2,074/month, or $2.42 psf. The property is located on the southeast and southwest corner of Junction Place & Pearl Parkway. Outlot A includes 7,977 sf and is drainage and open space. *Signatory on the deed of trust. Buyer’s website is www.rockwoodcap.com.

Denver County

Property Location: 10 S. Emerson St., Denver, “Quad Apartments”

Property Description: 36-unit, three-story apartment, 18,760 sf, YOC 1967, brick

Land Size: 43,885 sf

Sales Price: $6.2M, or $172,222 per unit, or $330.49 psf

Reception No.: 2016151419

Closing Date: 10/28

Grantor: Chalk Holdings LLC, Thomas F. Willisch, manager, 303-674-4833

Grantee: The Quad LLC, David H. Burch, manager

Financing: $4.34M, due 11-1-46 payable to JPMorgan Chase

Comments: See APN: 02214-31-009. There are 23 paved parking spaces and the property is on the corner of East Ellsworth Ave. & S. Emerson St. Price for the two-bedroom/one-bath unit @ 765 sf is $1,395/month. The units are renovated and have stainless steel appliances with granite countertops. The one-bedroom unit ranges from 470 to 575 sf and rent for $1,145 to $1,225/month.

 

Property Location: 5300 Franklin St., Denver

Property Description: 58,857-sf meat packing plant, YOC 1951

Land Size: 3.83 acres

Sales Price: $3.5M, or $193.40 psf

Reception No.: 2016148354

Closing Date: 10/20

Grantor: Rocking M Cattle Co., Roy R. Moore Jr., 303-296-9669

Grantee: City and County of Denver, attn: Jeff Steinberg, director

Comments: See APN: 02141-00-010. See Jeffrey.Steinberg@denvergov.org for the buyer contact and lance@nationalrealtyexchange.com for the seller contract. Part of the property lies in Adams County, see APN: 01825-14-1-00-021, 1.88 acres.

 

Property Location: SEC W. 29th Ave. & Zuni St., Denver, 2850 Zuni St.

Property Description: Land value

Land Size: 16,546 sf

Sales Price: $3.2M, or $193.40 psf, land value

Reception No.: 2016137885

Closing Date: 9/22

Grantor: Canwest Investments LLC, Glen E. Wood, manager, 970-479-0228, Vail

Grantee: 2850 Zuni LLC c/o Urban Green Development, Scott Kiere, CEO,

303-843-1000, www.urbangreendevelopment.com

Financing: $2.08M, payable to Wells Fargo Bank, NA, due 10-1-18

Comments: See APN: 02283-22-042. This property is located on the southeast corner of W. 29th Ave. & Zuni St. and is zoned C-MX-5.

 

Property Location: Adjacent SWC Inca St. & W. 41st Ave., 4001 Inca St., Denver

Property Description: Vacant land, plans for 125 for-sale units

Land Size: 43,885 sf

Sales Price: $3M, or $68.36 psf

Reception No.: 2016141995

Closing Date: 10/13

Grantor: Hainey Family LP, RLLLP, Margaret K. Hainey, partner

Grantee: CD-Inca LLC by: Confluence Cos., Tony DeSimone, manager, 303-643-5775

Financing: $3M @ 3%, due 12-1-21 payable to city and county of Denver

Comments: See APN: 02214-31-009. A portion of the property will be developed for affordable housing as funds were obtained from the Denver Office of Economic Development.

 

Property Location: 4329-4411 W. Nevada Pl., Denver

Property Description: 20-unit, single-story courtyard-style apartment complex, 12,072 sf, YOC 1956, brick construction, all two-bedroom units, fully renovated

Land Size: 43,885 sf

Sales Price: $2.8M, or $172,222 per unit, or $231.94 psf

Reception No.: 2016151336

Closing Date: 10/31

Grantor: Nevutica LLC, James F. King, manager

Grantee: ML Nevada LLC., Eliezer Muller, member, 1678 Vrain St., Denver 80204

Financing: $1.82M, due 10-31-28 @ 4.45% payable to FirstBank

Comments: Josh Newell and Jim Knowlton, 303-962-9543, of Pinnacle Real Estate handled the transaction.

 

Property Location: 3100 S. Sheridan Blvd., “IHop Restaurant”

Property Description: 4,457-sf restaurant, YOC 1989

Land Size: 39,261 sf

Sales Price: $2.25M, or $504.82 psf

Reception No.: 2016153140

Closing Date: 11/1

Grantor: Emic Properties LLC by: RMIC Assets Inc., Nancy Conger, president

Grantee: LG Sheridan Denver LLC, Will Tolliver, manager, 2301 Cedar Springs Rd., Suite 200, Dallas 75201

Financing: $1.58M, payable to Veritex Community Bank, Dallas, TX

Comments: See APN: 05313-00-022. Buyer’s contact information is 214-865-8090 or mobile 979-324-5340, will!@leoncapitalgroup.com

 

Property Location: 4825 Oakland St., Denver

Property Description: 16,122-sf office warehouse, YOC 1974

Land Size: 45,091 sf

Sales Price: $1.83M, or $113.20 psf

Reception No.: 2016150620

Closing Date: 10/28

Grantor: BCP – Oakland I LLC, Chad A. Brue, manager

Grantee: Colfaxblack LLC, Guy Carteng, manager, & 1808 Blake LLC, Daniel Woodward, member, 303-628-7417

Financing: $1M, payable to 5Star Bank, Colorado Springs

Comments: See APN: 01144-07-019.

 

Property Location: 5895 E. Evans Ave, Denver

Property Description: 13,065-sf office/warehouse, YOC, 7,065-sf office area & 6,000-sf warehouse space

Land Size: 43,996 sf

Sales Price: $1.37M, or $104.86 psf

Reception No.: 2016150872

Closing Date: 10/28

Grantor: 5895 East Evans Avenue LLC, Elias P. Petrides, manager

Grantee: Saitta Family Property LLC, Robert Anthony Saitta II, member

Financing: $750,000 payable to Wells Fargo Bank, NA, due 11-15-31

Comments: See APN: 06292-10-003. Aaron Valdez, Tyler Smith & Alec Rhodes of Cushman Wakefield. Quoted lease rate was $7.95 psf triple net.

 

Property Location: 2700 S. Downing St., Denver

Property Description: 18,232-sf church, YOC 1953, brick construction, with 13 classrooms, large cafeteria, two kitchens, five restrooms

Land Size: 22,450 sf

Sales Price: $1.25M, or $68.51 psf

Reception No.: 2016148206

Closing Date: 10/24

Grantor: Emmanuel Methodist Church, John Lombardi, treasurer

Grantee: Flatirons Community Church Inc.

Comments: See APN: 02141-00-010. Kevin Lentz of Re/Max 100, 303-425-7373, was the listing broker.

 

Property Location: 4575 Pecos St., Denver

Property Description: 3,270-sf warehouse center

Land Size: 12,000 sf

Sales Price: $720,000, or $220.18 psf

Reception No.: 2016151228

Closing Date: 10/28

Grantor: Robert E. Spindle Living Trust, et al., Robert & Janice Spindle, trustees

Grantee: GT Capital LLC 2870 N. Speer Blvd., Suite 230, Denver 80211

Financing: $2.05M, payable to Bank of the West, SBA loan, due 6-5-42

Comments: See adjoining sale located at 4573 Pecos St., Denver. Total purchase for the two properties was $1.26M, or $193.97 psf.

 

Property Location: 4573 Pecos St., Denver

Property Description: 3,200-sf industrial building, YOC 1911, three-car garage, two storage sheds, with five parking spaces

Land Size: 8,000 sf

Sales Price: $535,000, or $167.19 psf

Reception No.: 2016151210

Closing Date: 10/28

Grantor: Yan Nekhenzon

Grantee: GT Capital LLC 2870 N Speer Blvd., Suite 230, Denver 80211

Financing: $2.05M, payable to Bank of the West, SBA loan, due 6-5-42

Comments: Property was recently repaved and has a new water heater. The property has security system with 16 cameras. There are two restrooms including shower. Brett MacDougall, 303-512-2736, & Justin N. Herman, 720-881-6343, of Unique Properties Inc. were the listing brokers in the transactions. Total purchase for the two properties was $1.26M, or $193.97 psf.

 

Property Location: N/S E. 29th Ave., 56.5’ east of Havana St., Denver

Property Description: Vacant land, proposed 4,900-sf retail center

Land Size: 24,229 sf

Sales Price: $484,600, or $20 psf

Reception No.: 2016139651

Closing Date: 10/7

Grantor: FC Stapleton II LLC, John S. Lehigh, VP

Grantee: 6th Gen Real Estate LLC, Jessica R. Young, 303-355-0363, & Ross D. Wallace, members, 10841 E. 28th Ave., Denver 80238

Financing: $2.05M, payable to Bank of the West, SBA loan, due 6-5-42

Comments: Address is 2950-2954 Havana St. Dr. Jessica Young is a chiropractic specialist and plans to occupy a portion of the building upon completion. Her company is Natural Balance Chiropractic LLC.

Douglas County

Property Location: 650 Sky View Lane, Larkspur, “Yogi Bear’s Jellystone Park”

Property Description: 2,004-sf retail building, YOC 1967; 490-sf retail building, YOC 1967; 1,960-sf house, YOC 1971, brick/frame; 1,120-sf house, YOC 1972

Land Size: 68.97 acres

Sales Price: $7.42M, or $2.47 psf

Reception No.: 2016076032

Closing Date: 10/17

Grantor: Bear View LLC, Ian I.W. Steyn, manager

Grantee: Sun Jelly-Larkspur CO RV LLC c/o Sun Communities Inc., Jonathan Colman, EVP, jcolman@suncommunities.com or 248-208-2500

Comments: See APN: 2607-160-00-006, 2607-160-00-007, 2607-160-00-008, 2607-160-00-014. Property is visible at Tomah Road exit southbound on Interstate 25 and has been used as campground and RV park for many years.

 

Property Location: Northeast corner Saffron Dr. & North Meadows Dr., northwest corner Blueberry St. & Saffron Dr., Castle Rock

Property Description: Vacant land, 240 units planned

Land Size: 15.037 acres

Sales Price: $6.23M, or $9.51 psf, or $25,958 per buildable unit

Reception No.: 2016079748

Closing Date: 11/3

Grantor: Castle Rock Development Co, Jim Riley, president, 303-394-5500

Grantee: Echelon Castle Rock LLC c/o the Garrett Companies,

Ken Koziol, 317-886-7923, www.thegarrettco.com

Comments: See Lot 1A, Block 11, The Meadows Filing No. 20, Phase I, Amendment No. 7; see file plat 2016074704. The property is planned for 240 apartments, including 96 one-bedroom, one-bath units, 96 two-bedroom/two-bath units, 48 three-bedroom/three-bath units; 288 garage spaces, 124 surface spaces and 20 tandem spaces. The open space/landscaped area will include over 5.71 acres, with nearly 2.6 acres of improved streets and 1.54 acres of paved parking area. The building coverage will be 218,774 sf, which includes 24 buildings.

 

Property Location: 4989 Factory Shops Blvd., Castle Rock

Property Description: 10,113-sf strip center, YOC 2015, masonry

Land Size: 1.363 acres

Sales Price: $6.03M, or $596.46 psf

Reception No.: 2016065618

Closing Date: 9/17

Grantor: Woolly Thyme LLC by: Alberta Castle Rock Mgmt., Don Provost, manager Grantee: Castle Rock Real Property & Investments LLC c/o Ben Samouha

Financing: $6.76M, payable to Vectra Bank

Comments: See APN: 2351-274-06-017. The tenants include: MOD Pizza – 2,432 sf, Jersey Mike’s Subs – 1,659 sf, Bar Nails – 1,380 sf, Bellco – 2,451 sf, AT&T – 2,191 sf. Rob Edwards & Tom Ethington of Pinnacle Real Estate Advisors handled the transaction. This property sold on an in-place cap rate of 6.25%.

 

Property Location: SWC Aventerra Pkwy. & Jordan Rd., Parker

Property Description: 62 vacant lots

Land Size: 11.23 acres

Sales Price: $4.03M, or $65,000 per lot

Reception No.: 2016067122

Closing Date: 9/23

Grantor: NNP II Stonegate LLC, Alan F. Bauer, SVP

Grantee: Meritage Homes of Colorado Inc.

Comments: Lots 1-29, Stonegate Filing No. 4, 6th Amendment = 5.4878 acres with average lot @ 8,243 sf; smallest at 6,820 sf; largest lot at 16,479 sf.

Lots 1-33, Stonegate Filing No. 22, 5th Amendment = 5.7416 acres with average lot size at 7,583 sf, smallest at 6,168 sf and largest lot at 11,738 sf.

 

Property Location: 12415 Dumont Dr., Littleton

Property Description: 29,100-sf warehouse/flex building, YOC 2000, block

Land Size: 29,403 sf

Sales Price: $3.35M, or $115.12 psf

Reception No.: 2016067662

Closing Date: 9/22

Grantor: RMIP Dumont LLC by: Rocky Mountain Asset Management LLC, Todd Poppert, manager

Grantee: Hess Exchange LLC

Comments: See APN: 05081-03-030. Property was listed by Tyler Reed, 303-260-6531, and Peter Beugg, SIOR, 303-217-7974, of JLL. According to the press release and confirmed with Beugg, the broker and the seller donated $13,400 to Children’s Hospital and $13,400 to the Dear Jack Foundation. Dent Repair signed a lease for 2,200 sf at the beginning of 2016 for approximately $10.50 psf while Mobile Clinic Genius signed a 3,300-sf lease at the end of 2015 for $11 psf triple net.

 

Property Location: 12332 Parker Rd., Parker, “Advance Auto”

Property Description: 6,912-sf retail building, YOC 2016, stucco/masonry

Land Size: 29,316 sf

Sales Price: $2.8M, or $406.83 psf

Reception No.: 2016077487

Closing Date: 10/27

Grantor: BTS Hess AA LLC, Gregory B. Ham, manager

Grantee: Downey Places Ave. LLC, Robert Ferguson, manager, Huntington Beach, CA

Comments: See APN: 2233-341-20-022. Property was listed by Brent Ham, 720-237-6804, and Matt Call, 720-420-7529, of NavPoint Real Estate Group. Listing brochure shows property sold at an in-place cap rate slightly less than 5%. The indicated lease rate reflects a price of $20.25 psf triple net.

 

Property Location: 314 N. Wilcox St., Castle Rock

Property Description: 5,198-sf, two-story office-retail building, YOC 1948, renovated in 2007 & 2013, masonry construction

Land Size: 3,125 sf

Sales Price: $975,000, or $187.57 psf

Reception No.: 2016072699

Closing Date: 10/11

Grantor: 314 North Wilcox LLC, Christopher V. Smith, manager

Grantee: Milestone Properties LLC, Sarah Miles, CEO, 303-848-8400

Comments: See APN: 2231-114-09-027. This property was listed by Brett Ogden & Todd Ogden, 303-351-2217, of Hoff & Leigh. The building has new electrical panels and HVAC, ceramic tile, carpet, new concrete paving in rear for two to three vehicles, new ADA restrooms and a one-bedroom, furnished upstairs apartment with private access from rear of building.
Property Location: 12155 Lioness Way, Parker

Property Description: 6,437-sf strip retail building, YOC 2006, masonry

Land Size: 1.125 acres

Sales Price: $1.72M, or $267.98 psf

Reception No.: 2016071989

Closing Date: 9/30

Grantor: L&L One LLC, Rick Campbell, manager

Grantee: Centre Point Properties, Tucker James Manion, manager, 303-297-3137

Financing: $750,000 Payable to Guaranty Bank & Trust

Comments: See APN: 05081-03-030. Property was listed and sold by Jon Hendrickson, 303-813-6430, & Aaron Johnson, 303-813-6434, of Cushman & Wakefield. Broker shows net rentable area to be 5,872 sf. The deed of trust shows the buyer to be Victoria Coulter.

 

Property Location: 8181 W. Brandon Dr., Littleton

Property Description: 8,090-sf warehouse, YOC 1997, metal

Land Size: 1.017 acres

Sales Price: $1.4M, or $174.91 psf

Reception No.: 2016075534

Closing Date: 10/21

Grantor: Brandon Partnership LLC, Arthur W. Seely, manager

Grantee: 8181 West Brandon LLC c/o Buckingham Manufacturing, Jim Pennefeather & Andy Batty Jr.

Comments: See APN: 2229-070-02-014. The company is based out of Binghamton, NY, 607-773-2400.

 

Property Location: Northwest corner E. Lincoln Ave. & Ponderosa Dr.,

18225 Ponderosa Dr., Parker

Property Description: Vacant land, proposed auto dealership

Land Size: 3.03 acres

Sales Price: $1.28M, or $9.65 psf

Reception No.: 2016062538

Closing Date: 9/6

Grantor: Lincoln Parker Auto LLC, William A. Pfister, manager

Grantee: 18225 Ponderosa Drive LLC, Steven L. Dudden, Vernon A. Rowe & Scott B. Woody, members

Financing: $1.11M, payable to JPMorgan Chase Bank, NA

Comments: APN: 2233-161-06-001. The tenant is Rausch Motors, 303-841-1190

 

Property Location: 12420 Dumont Way, Littleton

Property Description: 12,304-sf warehouse, YOC 1985, metal

Land Size: 25,091 sf

Sales Price: $1.17M, or $95.22 psf

Reception No.: 2016073541

Closing Date: 10/13

Grantor: William L. Dell

Grantee: Eden Innovations LLC, Roger Marmaro, president & CEO, 303-468-1705

Comments: See APN: 2607-160-00-006. The company is based out of Binghamton, NY, 607-773-2400.

 

Property Location: Northwest corner Bellwether Lane & Sky Ridge Ave., Lone Tree

Property Description: 18 vacant lots with average size of 4,223 sf totaling 1.8 acres plus 1.02 acres of open space

Land Size: 1.797 acres

Sales Price: $1.08M, or $60,000 per lot, or $13.80 psf, net residential area

Reception No.: 2016074458

Closing Date: 10/19

Grantor: Ridgegate Investments Inc., Darryl Jones, VP, 720-279-2581

Grantee: BH Urban Villas LLC, c/o Harvard Communities, John Keith,

303-740-9018, & Berkeley Homes, Richard Laws, 303-576-8500

Financing: $11M, payable to CoBiz Bank

Comments: See 2012077312, Lots 1-18, Tracts A & B, Ridgegate – Section 15, Filing No. 19, First Amendment. The property consists of 18 proposed single-family detached homes with three-story architecture, each with minimum two-car garage. The homes are priced between $700,000 and 800,000 with size ranging from 2,900 to 3,200 sf. Tract A is 42,617 sf and Tract B is 2,060 sf and will be maintained by homeowners’ associations. See APN: 2231-152-18-003

 

Property Location: 703 N. Wilcox St., Castle Rock, “Base of the Rock Centre”

Property Description: 7,000-sf strip center, YOC 1988, brick

Land Size: 25,265 sf

Sales Price: $1.88M, or $267.86 psf

Reception No.: 20161078050

Closing Date: 10/28

Grantor: The Brennan Living Trust, Dennis A. Chamberlain Trust & Yvonne M. Chamberlain Trust

Grantee: Normas Heritage

Comments: There is a 7,000-sf basement that is leased. Tenants include The Donut House, Damascus Grill and Rodan Hair.

Jefferson County

Property Location: 15530 W. 64th Ave., Arvada

Property Description: 83,120-sf shopping center, YOC 2007, masonry

Land Size: 6.59 acres

Sales Price: $18.85M, or $226.77 psf

Reception No.: 2016115522

Closing Date: 10/29

Grantor: Rocky Mountain Capital Group LLC, Halston Mikail, manager, 9937 Jefferson Blvd., Culver City, CA 90232

Grantee: GKT Westwoods II LLC, John L. Rubenstein, CCIM, 913-362-1999,

6310 Lamar Ave., Overland Park, KS 66202

Comments: See APN: 30-121-06-026. Property sold in November 2014 for $14.05M. There are four buildings anchored with Ace Hardware and the 36,000-sf Prestige Fitness Center.

Property Location: NEC W. 93rd Pl. & Blanca St., Arvada, “Candelas”

Property Description: 62 residential lots

Land Size: 11.5 acres

Sales Price: $6.67M, or $107,500 per lot, or $13.30 psf

Reception No.: 2016105967

Closing Date: 10/13

Grantor: Arvada Residential Partners LLC c/o GF Properties, Creig Veldhuizen, VP, Southern Ute Indian Tribe, 970-385-7770

Grantee: Tri Point Homes Inc., Matthew P. Osborn, 855-808-8082, 8055 E. Tufts Ave, Suite 675, Denver 80237

Comments: Lots 1-11, Block 8; Lots 1-18, Block 9; Lots 1-21, Block 10; Lots 1-12, Block 11, Candelas Filing No. 4. See reception No. 2014072177. Property is located on the north side of Highway 72, east of Highway 93. The contact for new homes on site is, 855-718-4873. Prices for the 5,000 floor plan range from $507,900 to $557,900; the 6,000 floor plan models begin @ $594,900 to $654,900.

 

Property Location: 1605 Sheridan Blvd., Lakewood

Property Description: 2,781-sf house, YOC 1939, & detached garage, land value; city of Lakewood has given approval for 42 townhomes

Land Size: 2.04 acres

Sales Price: $2.03M, or $22.79 psf

Reception No.: 2016106544

Closing Date: 10/14

Grantor: The Stanley E. Howell Trust, Stanley E. Howell, trustee

Grantee: 1605 Sheridan Boulevard LP, Todd Heinzeroth, manager

Comments: Lots 13-36, plus east ½ vacated Ames Street. Property was listed by Paul N. Isenbergh, SIOR, of Dunton Realty, 305-632-0744.

 

Property Location: 6595 W. 44th Ave., Wheat Ridge

Property Description: 3,200-sf convenience store with gasoline pumps, YOC 1963

Land Size: 15,712 sf

Sales Price: $1M, or $312.50 psf

Reception No.: 2016107726

Closing Date: 10/14

Grantor: Hong L&D Inc., Shiqin Dong, president

Grantee: Palanchook Bhagawati, Bikash Tripathi & Sharada K. Tripathi, manager

Financing: $998,000, payable to Hanmi Bank, SBA loan due 10-14-41

Comments: See APN: 39-242-24-009. Property is located on the northeast corner of Newland St. & W. 44th Ave.

 

Property Location: 5219 N. Allison St., Arvada

Property Description: Vacant land, plan to build 29 townhomes

Land Size: 2.5 acres

Sales Price: $750,000, or $14.93 psf

Reception No.: 2016107443

Closing Date: 10/17

Grantor: Fenice Partners LLC, Richard Luna, manager, 303-913-3336

Grantee: Royal Oak LLC, Steven Ian Wilkie, manager, 303-524-5544, Golden 80402

Financing: $470,000, payable to Brelf II LLC

Comments: See APN: 39-149-00-045, located on the west side of Allison St., approximately 375’ north of W. 52nd Ave. Predevelopment plan documents were included in the sale of the property.

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 WinComps LLC 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

 

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