Winslow Report 8-3-16

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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: 3951 Cottonwood Lakes Blvd., Thornton

Property Description: 61,454-sf charter school, YOC 2003, 2008, block, 36 standard classrooms, 8,946-sf gymnasium, with soccer and baseball field, indoor audio included with nine classrooms set up with Smart Projectors, 750 students maximum.

Land Size: 7.11 acres

Sales Price: $11.7M, or $190.39 per sf

Reception No.: 2016000058293

Closing Date: 7/20

Grantor: Stargate Foundation, Apryl Sweat, president, 303-450-3936

Grantee: Frassati Catholic Academy, Keith A. Parsons, CFO & board member

Financing: $11.7M payable to Cobiz Public Finance Inc.

Comments: The school was founded in 1860 in Nashville and its corporate office is in Spring, TX. It is affiliated with the Catholic Archdiocese of Denver. The property is located at the northwest corner of Cottonwood Lakes Blvd. & Colorado Blvd. The school has catered to kindergarten through middle school. The seller is relocating to its campus at E. 144th Ave. & Washington. The contact information for Keith A. Parsons is 303-715-3215.

 

Property Location: 4550 Main St., SEC Vrain St. & Main St., Westminster

Property Description: 15,200-sf retail center, YOC 2016

Land Size: 38,146 sf

Sales Price: $8.2M, or $537.15 per sf

Reception No.: 2016000057734

Closing Date: 7/20

Grantor: CP Bradburn Village West LLC, Mark Falcone, CEO, & Roger Pecsok, development director, of Continuum Partners, 303-573-0050

Grantee: GKT Bradburn Village LLC by: TKG Management,

Maly R. Otto, 573-449-8323, Columbia, MI, 65203

Comments: The Bradburn Village West retail center opened spring 2016. Tenants include: Zoes Kitchen, 2,800 sf; Supercuts, 1,200 sf; Spavia Day Spa, 2,800 sf; Chuck & Dons, pet supply store, 3,300 sf; Banfield Veterinary, 3,000 sf.

 

Property Location: 5285 Fox St., Denver

Property Description: 38,853-sf warehouse, YOC 1982, precast panel

Land Size: 1.51 acres

Sales Price: $3.7M, or $95.23 per sf

Reception No.: 2016000058265

Closing Date: 7/20

Grantor: 5285 Fox LLC, Larry E. Haack, member

Grantee: Hunt Family Partnership LLLP, Anna Marie Hunt & Bernadette L. O’Donnell, general partners, 303-297-8600

Financing: $785,000 payable to Wells Fargo Bank NA, SBA loan, due 7-20-41

Comments: Buyer’s company, Amen Packaging Inc., plans to move into the building in a few months.

Arapahoe County

Property Location: SEC S. Birch St. & Leetsdale Dr., 320 S. Birch St., Glendale  

Property Description: 4,564-sf building to be removed, land value

Land Size: 2.1 acres

Sales Price: $3.7M, or $41.15 per sf

Reception No.: D6073774

Closing Date: 7/11

Grantor: 320 S. Birch LLC, Katherine L. Cersonsky Ellman, manager, Steven Gross Trust, Birch Investors LLC, Jeffrey Cohen, manager, and Jack D. Feuer

Grantee: Leetsdale & Birch LLC c/o Edgemark Development LLC, 303-571-4650,

Richard M. Sapkin & Brad A. McNealy

Financing: $11.2M, payable to Guaranty Bank & Trust

Comments: The buyer is in the process of replatting the site into three parcels. The first parcel is will be a 4-story, 90,000-sf self-storage facility containing 700 units. The second parcel will be used as a parking lot, while the third site containing 32,000 sf is listed for sale at $1.5M, or $46.88 per sf. It is also available for ground lease at $120,000 per year triple net. The property is listed with Emily Klimas, 303-370-7475, of SullivanHayes Brokerage.

 

Property Location: 2600 S. Parker Road, Aurora    

Property Description: 20,267-sf, seven 3-story office buildings, YOC 1975

Land Size: 4.45 acres

Sales Price: $3.3M, or $27.44 per sf

Reception No.: D6076012

Closing Date: 7/15

Grantor: NetREIT Inc., Grant Harbert, CFO

Grantee: DMC CO1 LLC, Mark McEwen, manager

Comments: Property was listed by Eric Gold & Mary Jo Cumming, 303-741-2500, of Sheldon-Gold REalty. According to the most recent brochure, the existing NOI is $241,814, equating to 60% occupancy.

 

Property Location: 13280 E. Mississippi Ave., Aurora, “Bud’s Warehouse”

Property Description: 51,590-sf warehouse, YOC 1985, block

Land Size: 1.2 acres

Sales Price: $2.7M, or $51.97 per sf

Reception No.: D6076271

Closing Date: 7/14

Grantor: 13280 Pacific LLC, Trong B. Lam, manager

Grantee: Belay Enterprises Inc., Bruce Porter, president, 303-296-3990

Financing: $2M, payable to RSF Social Investment Funds Inc.

Comments: Buyer to move into this building

 

Property Location: 4509-4545 S. Broadway, Englewood, “Ace Hardware Building”

Property Description: 10,879 sf, YOC 1954, block; 4,850-sf retail building, YOC 1957, masonry, total of 15,729 sf in two buildings

Land Size: 34,543 sf

Sales Price: $2.6M, or $165.30 per sf

Reception No.: D6073231

Closing Date: 7/7

Grantor: IH Holdings Two LLC, Hugo Weinberger & Ilan Reissner, managers

Grantee: O1 LLC, Melinda Quiat, manager, 303-759-1000

Financing: $1.6M, payable to Guaranty Bank & Trust

Comments: See APN: 2077-10-2-17-015, 016, 017. Rob Edwards & Tom Ethington of Pinnacle Real Estate Advisors listed the property. The seller invested over $250,000 since October 2014, including replacing the roofs, replacing and re-striping the parking lot. There is approximately 8.5 years remaining on the lease. Seller’s company is Situs Real Estate, 303-789-3030. The property sold on an in-place 6.5% cap rate, not considering vacancy or reserves.

 

Property Location: 10639 E. Briarwood Ave., Centennial, “Arapahoe Shoppes”

Property Description: 12,768-sf strip center, YOC 2007, block

Land Size: 34,543sf

Sales Price: $2.5M, or $165.30 per sf

Reception No.: D6077672

Closing Date: 7/19

Grantor: Arapahoe Center LLLP, Valerian Uhrich, partner

Grantee: Frozen Inc., Joseph Sekrieh, president, 303-388-8393

Financing: $1.5M, payable to MidFirst Bank, due 7-19-26

Comments: See APN: See www.frozen.com. The property was last listed for lease by Tom DiGregorio, 719-491-1111, or tom@axiore.com. There are spaces for lease, including a 2,200-sf restaurant space with a fire pit, two hoods, grease trap and high-end finish.

 

Property Location: 1660 W. Girard Ave., Sheridan  

Property Description: 15-unit apartment with four buildings, 8,576 sf, YOC 1945, brick

Land Size: 31,363 sf

Sales Price: $1.3M, or $86,133 per door, or $150.65 per sf

Reception No.: D6073231

Closing Date: 7/13

Grantor: Girard Court LLC, William S. Martin, manager

Grantee: Girard Group LLC, Barbara Currie & Sheldon Spiegelman, members

Financing: $969,000 payable to First National Bank

Comments: Listed by Re/Max Professionals, Lori Abbey, 720- 840-4984. This building contains 14 one-bedroom units @ 595 sf and one two-bedroom unit @ 990 sf. There are 20 parking spaces. Barbara Currie of The Genesee Commercial Group, 303-980-0500, represented the buyer.


Property Location:
2909 S. Shoshone St., Englewood  

Property Description: 10,086-sf, 2-story warehouse, YOC 1971, twin tee

Land Size: 11,021 sf

Sales Price: $653,600, or $5.32 per sf, land value

Reception No.: D6074720

Closing Date: 7/12

Grantor: Mitchel E. Rhoads

Grantee: 2767 S. Tejon LLC, Alfred John Amato, manager

Financing: Cash from proceeds of 2767 S. Tejon St., dated 6-10-16

Comments: Buyer facilitated 1031 exchange from 2767 S. Tejon St., Englewood, for $2.5M. The listing broker was Nick Schill of Pinnacle Real Estate Advisors, 303-962-9562, while the buyer was represented by Pete Foster, 303-962-9548, of Pinnacle Real Estate Advisors LLC.

 

Property Location: 11101 E. Asbury Ave., Aurora

Property Description: Vacant land. Proposed seven to eight lots plus 2,029-sf home, YOC 1970, brick veneer

Land Size: 2.27 acres

Sales Price: $625,000, or $5.32 per sf, land value

Reception No.: D6073231

Closing Date: 7/7

Grantor: Charles T. Leverett & Kathleen A. Leverett

Grantee: Bruckal Kingston Court LLC, Myles Bruckal, manager

Financing: Cash

Comments: Property was listed by Mike Kboudi & Sam Bell of Cushman & Wakefield, 303-292-3700. See APN: 1973-26-2-01-008. Property had not been subdivided at time of sale.

 

Broomfield County

Property Location: 1200 Eldorado Blvd., Broomfield

Property Description: Vacant land

Land Size: 25.12 acres

Sales Price: $7.1M, or $6.50 per sf

Reception No.: 2016007635

Closing Date: 6/30

Grantor: CC Interlocken Inc., Elias Vassclaros, executive vice president,

703 Waterford Way, Suite 800, Miami, FL 33126-4677

Grantee: Partners Group Colorado Propco LLC, Scott Egarian, manager, 1660 17th St., Suite 201, Denver

Financing: Cash

Comments: Lot 1, Block 2, Interlocken Filing No. 13 & Lot 3, Block 2, Final Plat of Interlocken Filing No. 6; see 1575-323-09-001 & 1575-323-05-003. Property is located on the southeast side of Eldorado Blvd., approximately 800’ north of Highway 128.

Boulder County

Property Location: 5455 Spine Road, Boulder

Property Description: 28,284-sf warehouse, YOC 1984

Land Size: 1.9 acres

Sales Price: $3.48M, or $123.04 per sf

Reception No.: 03532370

Closing Date: 7/21

Grantor: 5455 Spine LLC & Suzanne Delucia & Eastpark Associates LLP

Grantee: Spine Road Properties LLC, Eric Garfinkel, manager

Financing: Cash

Comments: Finkel & Garf Brewing is the anchor tenant as it occupies 5,385 sf. It moved into the space in 2014

 

Property Location: N/S of Quail Road, ½ mile east of S. Main St., Longmont

Property Description: Vacant residential lots

Land Size: 92 residential lots

Sales Price: $2.5M, or $27,285 per lot

Reception No.: 03532231

Closing Date: 7/20

Grantor: Longmont Quail Road LP, Andrew R. Klein & Otis C. Moore III, manager

Grantee: Oakwood Homes LLC, Robert J. Sanderman, executive vice president

Comments: Lots 1-10, Block 2; Lots 12-14, Block 6; Lots 1-19, Block 7; Lots 1-20 Block 8; Lots 7-21, Block 11; Lots 1-9 & Lots 21-36, Block 13, Harvest Junction Village, city of Longmont. See plat 03462739.

 

Property Location: 1330 Main St., Longmont

Property Description: 24,284-sf warehouse, YOC 1964

Land Size: 1.86 acres

Sales Price: $2M, or $84.42 per sf

Reception No.: 03531815

Closing Date: 7/19

Grantor: 1270 Boston LLC, O.J. Pratt, manager, 303-772-7676

Grantee: 1330 Main LLC, Josey Conn, manager, 720-340-4292

Financing: $1.63M, payable to Rawlins National Bank

Comments: Neighbor across the street purchased this property

 

Property Location: 280 S. Taylor Ave., Louisville

Property Description: 16,800-sf warehouse, YOC 1996, concrete panel

Land Size: 1.56 acres

Sales Price: $1.8M, or $108.93 per sf

Reception No.: 03531201

Closing Date: 7/19

Grantor: D4J Enterprises LLC, Daniel H. Stiehr, manager

Grantee: 280 Taylor-CTC, Michael & Kyle Wente, managers

Financing: $1.67M, due 1-15-17, payable to AmFirst Bank

Comments: Buyer occupies space in Suite 200.

 

Property Location: 439 Coffman St., Longmont, “Howe Mortuary”

Property Description: 14,091-sf mortuary, YOC 2013

Land Size: 21,942 sf

Sales Price: $1.8M, or $127.74 per sf

Reception No.: 03530968

Closing Date: 7/15

Grantor: GWH Land Management LLC, Geoffrey W. Howe, manager

Grantee: Allnutt Funeral Homes Inc., Richard D. Allnutt, president, 970-352-3366

Financing: $1.44M, payable to Great Western Bank; $1.26M, @ 5.5% payable to the seller at $9.36M, per month, fully amortizing over 210 months

Comments: Susan Hughes and Rick Allnutt acquired the Howe Mortuary & Cremation Services in Longmont. Geoff Howe will continue to serve as funeral director. It is unknown if the stated price included the business or just the building.

Denver County

Property Location: 3001 Fox St., Denver, “Diamond at Prospect Apartments”

Property Description: 140-unit, 4-story apartment complex, 123,064 sf, YOC 2005, 64 one-bedroom units, six two-bedroom/one-bath units, 63 two-bedroom/two-bath units and seven three-bedroom/two-bath units.

Land Size: 2.21 acres

Sales Price: $20.5M, or $146,429 per door

Reception No.: 2016092476

Closing Date: 7/12

Grantor: MS Reserve Prospect Limited Partnership Company, by: Security Properties, Madrona Ridge, Christopher Koegel, VP, 206-787-8481

Grantee: BMY Diamond LLC, et al., c/o Hamilton Zanze &Company, Kurt Houtkooper, chief investment officer

Financing: $12.3M, payable to CBRE Multifamily Capital

Comments: The seller is based out of Seattle, Washington, 206-787-8481, www.madronaridgellc.com . 70% of the units are affordable housing based on 50% to 60% area median income. The property was listed and sold by the CBRE Inc. Affordable Housing Team out of Seattle coupled with the CBRE Multifamily team in Denver. There are 42 units that are at market rent and rent as follows: The one-bedroom units range from 695 sf to 735 sf and start at $1,425 per month, two-bedroom/one-bath model is 880 sf and rental rates start at $1,721 per month, the two-bedroom/two-bath units range from 922 sf to 993 sf and rents start at $1,889 per month, and the three-bedrooms/two-bath units contain 1,258 sf and rent for $2,450 per month.

 

Property Location: 4400 E. Mississippi Ave., Denver, “Peregrine Place Apartments”

Property Description: 65-unit, 4-story apartment complex, 55,482 sf, YOC 2014, brick

Land Size: 1.65 acres

Sales Price: $17.1M, or $263,076 per door, or $308.21 per sf

Reception No.: 2016069309

Closing Date: 5/26

Grantor: Peregrine Place, Charles Bailey, manager, 303-884-1021

Grantee: Peregrine Place Apartments LLC & Washington Street Townhomes LLC, Robert J. Alexander, president of Mountain Capital Group

Financing: $11M, payable to JPMorgan Chase Bank, due 6-1-46

Comments: The studio units, three floor plans, range from 588 sf to 652 sf. The one-bedroom units, two floor plans, range from 522 to 609 sf, the two-bedroom two-bath units, three floor plans, range from 919 sf to 1,061 sf. Buyer’s website is www.mountaincapitalgroup.com. This property was an exchange from 901 Washington St., Denver, which Justin Hunt of ARA, a Newmark Company negotiated.

 

Property Location: 725 W. 39th Ave., Denver

Property Description: 13,332-sf warehouse, YOC 1955

Land Size: 123,233 sf

Sales Price: $6.8M, or $55.18 per sf, land value

Reception No.: 2016093811

Closing Date: 7/15

Grantor: Munroe Investment Company LLC, Vicki Munroe, manager

Grantee: 725 W. 39th LLC, John W. Zakhem, manager, 303-898-7788

Financing: Cash

Comments: See APN: 02223-27-013, the property is located on the north side of W. 39th Ave. @ the north terminus of Galapago St. & west terminus of W. 40th Ave. Buyer’s real estate company is Zakhem Real Estate Group, 303-532-5500, or zakhemrealestate.com. Mike Zakhem’s contact information is 720-341-7111, or email at: mzakhem@zakhemgroup.com. The buyer may offer the vacant warehouse on a short-term lease until a decision is made to the highest and best use of the site. Buyer represented itself in this transaction.

 

Property Location: 1201-1225 Cherokee St., Denver, “Dulce Vida Restaurant”

Property Description: 2,840-sf restaurant, YOC 1962, brick, & parking lot

Land Size: 25,915 sf

Sales Price: $4.54M, or $175 per sf

Reception No.: 2016092278

Closing Date: 7/12

Grantor: Zuni Capital Management LLC, Trevor Pettennude, manager, 303-623-3290

Grantee: Arapahoe & Lima LLC, 22%; 1680 Broadway LLC, 49.33%; and Lulu’s Plaza’s LLC, 28.67%. Panayes J. Dikeou, manager for all three LLCs, 303-825-9192

Financing: Cash

Comments: See APN: 05033-06-026, 027, 028, 029, 030. Dulce Vida opened at this location in March 2014 and replaced the Cherokee Grill.

 

Property Location: 2400 W. Seventh Ave., Denver, “Paddock Imports”

Property Description: 24,083-sf warehouse, YOC 1954, brick, with three drive-in doors and fenced extra-large storage yard.

Land Size: 1.39 acres

Sales Price: $2.6M, or $108.58 per sf

Reception No.: 2016092539

Closing Date: 7/13

Grantor: 2400 W. 7th Partners LLC, Edwin G. Anderson III, manager, 303-205-6760

Grantee: DMCAT LLC, Douglas T. Paddock, manager

Financing: $1.74M, payable to Vectra Bank, due 7/1/21; $215,000, 1%, due 7-1-21, payable to seller

Comments: Owner-occupant. The buyer has been a tenant in the building since February and purchased the building from the landlord. The seller purchased the building in December 2014 for $1.79M, or $74.22 per sf. Seller’s company is Connexion Asset Group, 303-205-6700.

 

Property Location: NEC Salida Way & E. 61st Ave., Denver, “TOD site”

Property Description: Vacant land, 218-unit apartment complex with 3-story buildings and tuck-under parking to be developed toward the end of 2016

Land Size: 6.52 acres

Sales Price: $2.2M, or $7.75 per sf, or $10,092 per buildable unit

Reception No.: 2016093136

Closing Date: 7/14

Grantor: Rail Stop LLC, Marcia Lewan, manager, 303-295-3071

Grantee: MGL Pena Station LLC, Lisa Mullins, Greg Glade & Mike Gerber, managers

Comments: The buyer is a developer in the Denver real estate market and has constructed a 156-unit apartment, “Amaranth,” in Denver; 1,200 units of affordable housing in Colorado and has a ground lease on a 19-acre site one block from the Fitzsimons Life Science District. The buyer can be reached at 303-892-6600, or www.mglpartners.com. The zoning is S-MX-8A and the light-rail station is one block west of the subject property.

 

Property Location: 860 Broadway, Denver

Property Description: 9,342-sf two-story retail building, YOC 1922, masonry

Land Size: 9,385 sf

Sales Price: $1.67M, or $178.23 per sf

Reception No.: 2016069845

Closing Date: 5/27

Grantor: Walla Family LLC, Dennis R. Walla, manager

Grantee: 860 Broadway LLC, Ari Stutz, manager, 2660 Walnut St., Denver 80205

Financing: $2.24M, payable to Northstar Bank of Colorado, due 5-26-2019, construction loan

Comments: Buyer is a commercial real estate broker with Downtown Property Services LLC, 303-292-3193, or ari@dpsdenver.com . He is located at 2660 Walnut St., which he has renovated and is leasing space for $30 per sf. The tenants include Bicycle Doctor & Edgeworks. The transaction was negotiated by NAI Shames Makovsky, Todd Snyder, 720-881-7533. Brochure shows 9,450 sf.

Property Location: 700 E. Ninth Ave., Denver

Property Description: 8,457-sf, 2-story office building, YOC 1938, brick

Land Size: 9,375 sf

Sales Price: $1.65M, or $178.23 per sf

Reception No.: 2016069845

Closing Date: 6/2

Grantor: Nautilus Consulate LLC, J. Thomas Wilson, manager

Grantee: Broadway 460 LLC, Aaron Westphal, Jacob Vanderslice & Wade Buxton, managers

Financing: $1.35M, payable to Guaranty Bank & Trust

Comments: This sale was the downleg of the 1031 exchange for the buyer along with 2200-2220 California for $3M, as it sold 460-470 Broadway for $4.93M. The building is listed on the National Register of Historical Places and was designed by Jacques Benedict.

 

Property Location: 1875-1885 S. Ogden St., Denver

Property Description: 16,906-sf, 2-story church, 14,368-sf church building & 2,538-sf preschool building, brick, YOC 1951

Land Size: 21,750 sf

Sales Price: $1.85M, or $109.43 per sf

Reception No.: 2016096626

Closing Date: 7/20

Grantor: Jewel Christian Reformed Church, Carol Kaiser, president

Grantee: 1885 South Ogden LLC, Nicole & Michael Cardoza, managers, 303-733-5437

Financing: $1.93M, payable to Midwest Regional Bank

Comments: Lots 25-31, Block 63, Stebbins Heights. This property will be used for Martin School of Early Education and was sold by Todd Whittaker of Service Inc., 303-794-8600.

 

Property Location: 4300 E. Eighth Ave., Denver

Property Description: 1,980-sf retail building, YOC 1948,

Land Size: 18,750 sf

Sales Price: $1.25M, or $56.67 per sf, land value

Reception No.: 2016095320

Closing Date: 7/18

Grantor: M&N Company LLC, Gary Newcomb, manager, 303-777-2692

Grantee: 8th and Bellaire Properties LLC, Aaron Lapedis, manager, 303-324-3060

Financing: $1.1M, @ 4.5% due 7-20-17, payable to Alpine Bank

Comments: Buyer is famous collector and author of “Garage Sale Millionaire.” Subway occupies approximately 980 sf, while the frozen yogurt shop no longer occupies the adjoining 1,000 sf. The property is located on the southeast corner of E. Eighth Ave. & Bellaire St. and is zoned E-MS-2. Building will be leveled in six months. The owner will offer a six-month lease @ $1,800 per month gross for 1,000 sf.

 

Property Location: 2510 Welton St., Denver

Property Description: Vacant land, zoning is C-MX-8

Land Size: 12,575 sf

Sales Price: $1.15M, or $91.45 per sf

Reception No.: 2016097067

Closing Date: 7/22

Grantor: 2GE Welton LLC, Gayor A. Geller, manager

Grantee: 2510 Welton LLC, Nickole Lindemann, manager, 303-606-7842, 1660 17th, Suite 300, Denver 80202

Comments: Work has commenced on the property located at at the south corner of 26th St. & Welton St., which includes an 8-story, 130-unit apartment building plus 15,300 sf of office space and 9,266 sf of retail space. Paul Books of Palisade Partners purchased the 25,100 sf for $800,000, or $31.87 per sf, April 14, 2014, and then subsequently purchased one lot containing 3,138 sf for $234,375, or $74.70 per sf, Aug. 6, 2014. The total assemblage equated to $1.03M, or $36.80 per sf. This property is approximately 50’ northeast of 2510 Welton St. See 2016071855.

 

Property Location: 1900 W. 46th Ave. & 1919 W. 46th Ave., Denver

Property Description: 1,543-sf house, YOC 1955, brick, & vacant lot

Land Size: 12,750 sf

Sales Price: $1.01M, or $79.22 per sf, land value

Reception No.: 2016095857

Closing Date: 7/20

Grantor: 1334 Development Group, Andrew P. Kemler, manager

Grantee: 46th Ave. Partners LLC, Myles Goldman, member, 303-619-5983

Financing: $650,000 @ 4.5% due 7-20-17, payable to FirstBank

Comments: Myles Goldman represented himself, broker associate with Your Castle Real Estate, 303-962-4272. The property is located on the north side of W. 46th Ave., approximately 75’ west of Shoshone St., and is zoned U-MS-2.  

 

Property Location: 2820-2822 E. 17th Ave., Denver

Property Description: 2,800-sf, 2-story retail building plus 2,000 sf in basement, YOC 1907, brick

Land Size: 3,000 sf

Sales Price: $880,000, or $314.29 per sf

Reception No.: 2016096928

Closing Date: 7/22

Grantor: William M. Thach Jr.

Grantee: Alexander Chambers Gallery LLC

Financing: $680,000, due 8-1-2020 @ 6% amortized over 15 years, due Aug. 1, 2020, payable to grantor in monthly payments of $5.74M

Comments: Property was listed by Casey Grosscope, 303-260-4224, and John Gustafson, 303-260-4258, of Newmark Grubb Knight Frank for $995,000.

 

Property Location: 1280 Grant St., Denver, “Domino’s Pizza”

Property Description: 2,254-sf restaurant, YOC 1968, masonry

Land Size: 6,300 sf

Sales Price: $780,000, or $346.05 per sf

Reception No.: 2016095956

Closing Date: 7/20

Grantor: Kiodi LLC, Jeffrey D. Litman, manager

Grantee: Mountainside Property LLC, Brent Hamill, manager

Comments: Owner-occupant. The buyer has been a tenant in the building and has the Domino’s franchise.

Douglas County

Property Location: 18366 Lincoln Ave., Parker, “Lincoln Meadows”

Property Description: 10,010-sf, four-tenant retail center, YOC 2006, masonry, 90 parking spaces

Land Size: 1.75 acres

Sales Price: $2.95M, or $108.58 per sf

Reception No.: 2016045500

Closing Date: 7/12

Grantor: Lincoln Meadows LLC, Bradley P. Brooks, manager and president of Sidford Capital LLC

Grantee: Parker Meadows LLC, Ashkar’s Children’s LLC

Comments: This property was listed and sold by Cory Gross of Marcus & Millichap, 303-328-2000. Expenses are $11 per square foot, which includes real estate taxes, insurance, CAM charges and management fee. The in-place cap rate is 7.49%, which does not include vacancy or reserves. Opa Grill occupies 2,540 sf, Sport Clips has 1,300 sf, The Nail Saloon contains 1,200 sf, Jersey Mike’s is 1,400 sf, Pho Vy has 2,370 sf and Jiu Jitsu has 1,200 sf, with an average triple-net lease rate of $21.90 per square foot.

 

Property Location: SWC W. County Line Road & Erickson Blvd. Littleton,

Douglas County

Property Description: Vacant land, 116-room Marriott Residence Inn proposed

Land Size: 104,647 sf

Sales Price: $1.99M, or $19 per sf, or $17,138 per buildable room

Reception No.: 2016047342

Closing Date: 7/18

Grantor: LC West LLC c/o Province Group, Mark J. Kerslake, manager, 949-553-4800

Grantee: CIP 2014/PC RIL Hotel LLC, c/o Propel Companies, 210-446-3180,

425 Soledad, 4th floor, San Antonio, TX

Comments: Scottie McIntyre is the acquisitions person for Propel Companies.  The hotel will have 117 parking spaces, including five handicapped spaces. The building will contain 80,110 sf with 4 stories.  

 

Property Location: SE/S Cabela Dr., 341‘ southwest of Ridgegate, Lone Tree

Property Description: Vacant land

Land Size: 3.31 acres

Sales Price: $2.5M, or $17.25 per sf, or $20,561 per buildable room

Reception No: 2016004856

Closing Date: 1/26

Grantor: Ridgegate Investments Inc., Keith D. Simon, 720-279-2581

Grantee: Park Meadows TPP LLC, Brent Adcock, 210-446-3180, San Antonio, TX

Comments: See Lot 3, RidgeGate Filing No. 18. Use restriction calls for the construction of a Marriott TownePlace Suites, extended-stay hotel. Hans Lindberg is president of the Propel Companies. The proposed 121-room Marriott TownePlace Suites contains 72,562 sf and is expected to open in mid-July, 2016. The 4-story building footprint contains 18,860 sf with 138 parking spaces provided.

Jefferson County

Property Location: 3705 Kipling St., Wheat Ridge

Property Description: 14,188-sf garden-style office building, two levels, YOC 1974, brick and stone facade

Land Size: 26,000 sf

Sales Price: $1.1M, or $77.53 per sf

Reception No.: 2016064091

Closing Date: 7/1

Grantor: Gaybil-Jerfre Ltd., Frederick J. Hughes & William D. Gunn, members, Evergreen, 303-918-8863

Grantee: CK93 LLC, Kevin P. Krupka, manager, 720-974-1702, direct, 303-420-4774

Financing: $1M payable to grantor

Comments: There are 39 parking spaces and quoted lease rates are $10.50 RSF, full-service with some spaces upgraded and newly remodeled. The buyer has been a tenant in the building for several years.

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