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: 10500 Irma Drive, Northglenn, “Regatta Apartments”
Property Description: 352-unit apartment complex w/22 two-story buildings plus clubhouse, 322,648 sf rentable; YOC 2000; 571 open spaces & 142 detached garage spaces – total of 713 parking spaces; brick on frame
Land Size: 22.79 acres
Sales Price: $81.8M, or $232,386/unit, or $253.53/sf
Reception No.: 20160000108775
Closing Date: 12/13
Grantor: Regatta Apartment Investors c/o Bascom Group, Jerome A. Fink, manager
Grantee: SRGMF II IRMA Northglenn c/o Sares-Regis Group, 18802 Bardeen Ave., Irvine, CA 92612, www.sares-regis.com, 949-756-5959, attn: Robert. W. Wagner
Comments: This property was negotiated by the CBRE Inc. Denver Multifamily team including David Potarf, Daniel Woodward & Matt Barnett. The unit mix includes: 14 673-sf one-bedroom/one-bath units rented for $1.68/sf; 58 renovated, 673-sf one-bedroom/one-bath units that rent for $1.92/sf; 16 741-sf one-bedroom/one-baths that rent for $1.62/sf; 56 renovated 741-sf, one-bedrooms, rented for $1.83/sf; eight 903-sf, two-bedroom/one-baths that rent for $1.50/sf; 24 903-sf, renovated two-bedroom/one-baths that rent for $1.65/sf; 12 1,028-sf two-bedroom/two-baths @ $1.44/sf; 68 1,028-sf two-bedroom/two-baths @ $1.61/sf; 11 1,117-sf two-bedroom/two-baths @ $1.32/sf; 61 renovated 1,117-sf, two-bedroom/two-baths @ $1.44/sf; two 1,220-sf, three-bedroom/two-baths @ $1.49/sf; 22 1,220-sf, three-bedroom/two-baths @ $1.65/sf; with a total average of 917 sf, with and average rental rate of $1,493/month, or $1.63/sf. The in-place rent average is $1,334/month @ $1.45/sf. The last sales price was $42.25M, or $120,028/door, and occurred in December 2011. The annual growth rate of appreciation is 14.126%. The total gain in the five-year period is 93.61%. It would take 67 years to achieve such a growth with CD deposits at your local bank at 1% per annum growth. Expenses for this property are estimated to be $4,975/door, with an in-place cap rate of slightly over 6%.
Property Location: 11450 Melody Drive, Northglenn, “Regatta Apartments”
Property Description: 168-unit apartment complex with seven three-story buildings plus clubhouse, 150,150-sf rentable; YOC 1999, 244 open parking spaces
Land Size: 7.84 acres
Sales Price: $30.8M, or $183,333/unit, or $205.13/sf
Reception No.: 20160000108775
Closing Date: 12/13
Grantor: Bascom Melody Drive Apartments LLC, c/o Bascom Group, Jerome A. Fink, manager
Grantee: GB Village at North Hills SPE LLC by: Griffis/Blessing Inc., Gary Winegar, president of Investment Services, 719-520-1234
Financing: Payable to CBRE Capital Markets Inc.
Comments: This property was negotiated by the CBRE Inc. Denver Multifamily team including David Potarf, 303-628-7414, Daniel Woodward, 303-628-7417, & Matt Barnett, 303-628-7422. The unit mix includes: 56 787-sf one-bedroom/one-bath units, rented for $1.41/sf; 13 renovated, 787-sf one-bedroom/one-bath units that rent for $1.49/sf; 71 947-sf, two-bedroom units that rent for $1.33/sf; 28 renovated 947-sf, two-bedroom unit that for $1.43/sf. The 42 units that have been renovated at an estimated cost of $4,250/door have experienced a rental increase of $138 to $199/month. The average size unit is 894 sf with an in-place rental rate of $1.36/sf.
Property Location: 20101 E. 36th Drive, Aurora
Property Description: 277,236-sf warehouse, YOC 1982, masonry
Land Size: 18.88 acres
Sales Price: $14.5M, or $52.34/sf
Reception No.: 20160000098554
Closing Date: 11/15
Grantor: S&Z Realty LLLP by: Buehler Cos., Stuart Smith, manager, 303-388-4000
Grantee: Strongs Neck LLC, Eli A. Feldman, president of Conscience Bay Co. LLC
Financing: $7.25M, payable to First National Bank of Santa Fe, NA
Comments: See APN: 1825-10-1-01-019. Ben Woolf is director of commercial investments and can be reached at 303-225-7905 in Boulder. The property was listed by Alec Rhodes, SIOR, Tyler Smith, CCIM, SIOR, Aaron Valdez & R.C. Myles, CCIM, SIOR, ULI, of Cushman & Wakefield, 303-292-3700. The building is divided into two equal spaces of 138,618 sf with the U.S. Postal Service on the west side. There are 24 dock-high doors with levelers, one drive-in door and three rail doors, Union Pacific. The clear height ranges from 23’ to 26’. Buehler will relocate in May 2017 to the building that it just purchased at 16456 E. Airport Circle, in Aurora. See following sale.
Property Location: 16456 E. Airport Circle, Aurora
Property Description: 326,844-sf industrial building, YOC 1999, concrete panel
Land Size: 17.27 acres
Sales Price: $20.1M, or $61.50/sf
Reception No.: 20160000106271
Closing Date: 12/6
Grantor: Graebel Warehouse LLC, William H. Graebel, manager, 303-329-3217
Grantee: S&Z Realty LLLP c/o Buehler Moving & Storage, Stuart Smith, president, 3899 Jackson St., Denver
Financing: $20.43M, payable to ZB, NA, Vectra Bank Colorado, due 11-29-2026
Comments: See APN: 01821-29-4-02-002. Cushman & Wakefield brokers Alex Rhodes, Tyler Smith & Aaron Valdez, 303-819-7333, represented Buehler Moving. Brad Pech of Re/Max Commercial Alliance represented the seller. Buehler is also acquiring Graebel Van Lines’ business in Denver.
Property Location: 1400 W. 122nd Ave., Westminster, “Casey Building”
Property Description: 30,044-sf, two-story office building, YOC 1985, brick
Land Size: 1.85 acres
Sales Price: $4.42M, or $146.95/sf
Reception No.: 20160000106299
Closing Date: 11/3
Grantor: MDK Westminster LLC, Adam Fierman, manager
Grantee: Colorado Blvd. Holdings LLC, Nick Studen Jr., manager, 303-466-6794
Financing: $2.25M, payable to Bank West due 1-5-2043, SBA Loan
Comments: The property was listed by Mark Dwyer, 303-226-8212, of Lincoln Property Company. The property last sold in October 2016 for $3.83M.
Property Location: 8215 Steele St., Denver
Property Description: 4,619-sf, two-story office/showroom, YOC 2006
Land Size: 87,120 sf
Sales Price: $1.25M, or $270.62/sf
Reception No.: 20160000107810
Closing Date: 12/12
Grantor: DAP Montoya Holdings LLC, Darby Montoya, manager
Grantee: ATR Holdings LLC, c/o AAA Barricade Company, 303-289-6880, Jennifer & Steven Scott, managers, 8215 Steele St., Denver 80229
Financing: $1.17M, payable to Compass Bank, due 25 years
Comments: There is a large, fully paved yard area. The warehouse/shop area includes a 5-ton crane, compressed air lines, radiant heat; mezzanine level includes six private offices, open bullpen/reception area, kitchen and two bathrooms with showers. See APN: 1719-25-3-04-006. The property last sold for $525,000 in March 2014.
Arapahoe County
Property Location: 8000 Southpark Way, Littleton
Property Description: 145,517-sf ministorage space, YOC 1984,
Land Size: 8.52 acres
Sales Price: $16.78M, or $115.29/sf
Reception No.: D6143651
Closing Date: 12/15
Grantor: 8000 Southpark LLC, Bruce H. Etkin, manager
Grantee: Familia Eubank LLC, Dale Eubank, 1676 CR 100, Carbondale 81623
Financing: $16.73M, payable to Bank of Colorado, due 12-16-2026
Comments: Ryan Good is the executive vice president & partner for Etkin Johnson on this listing, 303-223-0496 or rgood@etkinjohnson.com. See APN: 2077-33-4-03-005 & 2077-33-4-03-049. The two properties at 8000 Southpark Way & 8000 Southpark Lane were conveyed in two separate deeds totaling $18.23M.
Property Location: 8000 Southpark Lane, Littleton
Property Description: 12,222-sf, single-story office building, YOC 2001, masonry
Land Size: 1.25 acres
Sales Price: $1.45M, or $118.53/sf
Reception No.: D61436528
Closing Date: 12/15
Grantor: 8000 Southpark LLC, Bruce H. Etkin, manager
Grantee: San Miguel LLC, Dale Eubank, 1676 CR 100, Carbondale 81623
Comments: Ryan Good is the executive vice president & partner for Etkin Johnson on this listing, 303-223-0496 or rgood@etkinjohnson.com. See APN: 2077-33-4-03-049. The two properties at 8000 Southpark Way & 8000 Southpark Lane were conveyed in two separate deeds totaling $18.23M.
Property Location: 13760 E. Arapahoe Road, Centennial
Property Description: 52,226-sf, single-story warehouse, YOC 1969, twin-tee concrete
Land Size: 3.02 acres
Sales Price: $4.55M, or $87.12/sf
Reception No.: D6143651
Closing Date: 12/6
Grantor: MGDB LLC, Michael R. Gorman, member
Grantee: Regel Enterprises LLC c/o Merger Property Management, Alfred S. Leger & M. Jean Leger, manager, 303 S. Broadway, Suite 200-350, Denver 80209
Financing: $3.26M, payable to Blue Federal Credit Union, due 12-1-2030
Comments: Lot 1, Block 1, Baxa Subdivision, Arapahoe County. This property sold to the seller in December 2010 for $1.8M. The seller is Digital Wave Corp., 303-790-7559, or www.digitalwavecorp.com
Property Location: 2305 E. Arapahoe Road, Centennial, “Southglenn Plaza Offices”
Property Description: 43,690-sf, two-story office building, YOC 1978, front façade updated recently and site contains 164 parking spaces
Land Size: 3.18 acres
Sales Price: $2.8M, or $64.09/sf
Reception No.: D6145421
Closing Date: 12/12
Grantor: Southglenn Plaza Offices LLC, Don V. Bailey, CEO, or Patrick J. Bailey, president, 303-830-7848, 6021 S. Syracuse Way, Suite 100, Greenwood Village
Grantee: 2305 Arapahoe Partners LLC, Trong B. Lam, member, & ELNA LLC, Thomas M. Duffy, manager, 303-758-3105, 7500 E. Arapahoe Road, Suite 345, Centennial
Financing: $2M, payable to First State Bank, PO Box 1267, 2002 Broadway, Scottsbluff, NE 69363-1267, due 12-1-2030
Comments: Lot 1, Block 1, Southglenn Tenth Filing, Arapahoe County. Property was listed by Zachary T. Williams, 303-813-6474, Nathan J. Bradley, 303-813-6444, & W. Ryan Stout, 303-813-6448, of Cushman & Wakefield. The site value reflects $20.20/sf if the purchaser acquired the property for future land/development value. The property lies directly south of Dekoevend Park in Littleton and access to the property is limited via an easement from S. Vine St. There is an assisted-living development located near the South Suburban Recreation Center.
Property Location: NEC S. Picadilly Road & E. Alameda, Aurora
Property Description: Vacant land
Land Size: 77.29 acres in three tracts of land
Sales Price: $1.95M, or $25,269/acre
Reception No.: D6144943
Closing Date: 12/12
Grantor: Kevin M. Martin & Hugh T. Privette
Grantee: The Trust for Public Land, Brenda Schick, VP, 303-837-1414,
1410 Grant St., Denver 80203
Comments: See APN: 1975-12-3-00-010; 1975-12-3-00-011, 1975-12-3-00-012
Property Location: North side of E. Arapahoe Road, southwest corner E. Peakview Ave. & E. Euclid Drive, 12351 E. Arapahoe Road, Centennial
Property Description: Vacant land, proposed 12,600-sf Auto Finders Facility
Land Size: 4.5 acres
Sales Price: $1.08M, or $5.50/sf
Reception No.: D6144185
Closing Date: 12/9
Grantor: Concorde Place by: James Blair Properties Inc., 303-805-9839,
Ron Johnson, VP, & Glenn Carpenter, manager
Grantee: Awada Enterprises 2 LLC, Ali F. Awada, manager, 303-636-9000,
2200 S. Parker Rd., Suite A, Denver 80231
Financing: $2.25M, payable to Bank West due 1-5-2043, SBA loan
Comments: See Site Development Plan, D6132513 for Colorado Auto Finders Site Plan. See 2075-24-3-32-002. The 12,600-sf Auto Finders Facility will include 72 parking spaces & 210 spaces for vehicle storage.
Boulder County
Property Location: 1050 Walnut St., Boulder
Property Description: 109,732-sf, five-story office building, YOC 1984, brick
Land Size: 28,706 sf
Sales Price: $46.4M, or $422.85/sf
Reception No.: 03561012, leasehold estate
Closing Date: 12/1
Grantor: Alecta Real Estate USA LLC, Martin Van Ardenne, CRE, 415-321-6113
Grantee: BPP Walnut LLC, Anthony W. Beovich, manager, by Blackstone Real Estate Advisors LP
Financing: $308.78M, payable to Royal Bank of Canada
Comments: Lots 1-4 Block 44, Boulder. This portfolio included 109,742-sf office building located at 1050 Walnut St., which sold for $46.4M, or $422.85/sf; the 72,037-sf Canyon Center building located at 1881 Ninth St., selling for $32.9M, or $456.71/sf, & a 33,945-sf, three-story vacant office building located at 1900 15th St., selling for $13.27M, or $390.93/sf with an aggregate amount of 215,724 sf in the three buildings totaling $92.57M, or $429.11/sf. Patrick Devereaux, Jason Schmidt & Joe Heath of JLL represented the seller. 1050 Walnut St. was 94% occupied at the time of sale with Techstars, Foundary Group & Southwest Research Institute the anchor tenants in this building. 1881 Ninth St. was 95% occupied with tenants including TIAA-CREF and Finish Line.
Property Location: 1881 9th St., Boulder
Property Description: 72,037-sf, three-story office building, YOC 1984, brick, & parking garage w/43,644 sf, YOC 1984
Land Size: 1.66 acres
Sales Price: $32.9M, or $456.71/sf
Reception No.: 03561012
Closing Date: 12/1
Grantor: Alecta Real Estate USA LLC, Martin Van Ardenne, CRE, 415-321-6113
Grantee: BPP Canyon Center LLC, Anthony W. Beovich, manager, by Blackstone Real Estate Advisors LP
Financing: $308.78M, payable to Royal Bank of Canada
Comments: Lot 1, Canyon Center, Boulder
Property Location: 1900 15th St., Boulder
Property Description: 33,945-sf, three-story office building, YOC 1994, masonry
Land Size: 12,026 sf
Sales Price: $13.27M, or $390.93/sf
Reception No.: 03560954
Closing Date: 12/1
Grantor: Walnut and Fifteenth LLC c/o Alecta Real Estate USA LLC, Martin Van Ardenne, CRE, 415-321-6113
Grantee: BPP Walnut Fifteenth LLC, Anthony W. Beovich, manager, by Blackstone Real Estate Advisors LP
Financing: $308.78M, payable to Royal Bank of Canada
Comments: Lot 1, Canyon Center, Boulder
Property Location: 16858 N. St. Vrain Dr., Lyons
Property Description: 8,000-sf lodging building, YOC 1956
Land Size: 18.5 acres
Sales Price: $1.44M, or $1.79/sf land value
Reception No.: 03562209
Closing Date: 12/8
Grantor: Inn at Rock N River Pal Inc., Guy Gibson, president, 3131 Concord Way
Grantee: County of Boulder
Property Location: 3800 Arapahoe Road, Boulder
Property Description: 15,187-sf office building, YOC 1984
Land Size: Sale of improvements only
Sales Price: $844,000, or $55.57/sf
Reception No.: 03562209, leasehold estate
Closing Date: 12/8
Grantor: TBW Inc., Timothy B. Walsh, president
Grantee: CC 3800 Arapahoe LLC, c/o Cress Capital LLC, Tom Parnell, manager, & Revesco UPVFI of Arapahoe LP, T. Rhys Duggan, president
Comments: See ground sublease to Bank of the West, recorded 03057671, which was assigned to the grantee via Reception No. 03562210
Property Location: 24 9th Ave., Longmont
Property Description: 7,258-sf garden level office/retail building, YOC 2000, brick
Land Size: 11,686 sf
Sales Price: $575,000, or $79.22/sf
Reception No.: 03560468
Closing Date: 11/30
Grantor: Alternatives for Youth Inc., Adam Ingersoll, board chair
Grantee: Miller/Perry LLC, George A. Miller, manager
Financing: $225,000, payable to seller, due 12-1-2021 @ 4.75%
Comments: This property was listed by Becky Lyall, 303-548-5471, of Legacy Real Estate Group. Property is available for lease at $9.75/sf, NNN.
Broomfield County
Property Location: 8500 Arista Place, Broomfield, ”Arista Uptown Apartments”
Property Description: 272-unit apartment complex with eight three-story buildings plus clubhouse, 225,073-sf rentable; YOC 2013
Land Size: 6.68 acres
Sales Price: $65M, or $238,971/unit, or $205.13/sf
Reception No.: 2016015111
Closing Date: 11/21
Grantor: Arista Uptown Colorado LLC by: Jed B. Milburn, manager, 801-961-1372
Grantee: Seagate Arista Associates LLC, Trent Isgrig, manager, 303-825-0660
Financing: Assumption of $39.75M note dated 9-19-2014, payable to Walker & Dunlop LLC, assigned to KeyBank, NA, Overland Park, KS 66211
Comments: The APN is: 1717-034-15-003. This property was negotiated by the ARA Newmark Inc. Denver Multifamily team including Jeff Hawks, Terrance Hunt, Shane Ozment, Doug Andrews, Anna Stevens & Amanda Meldrum. The unit mix includes: 18 studio units @ 526-560-573 sf that rent for $2.15-$2.08-$2.31/sf; 129 one-bedroom/one-bath units @ 653-710-743-747 sf that rent for $1.95-$1.81-$1.85-$1.81/sf; 75 two-bedroom/two-baths units @ 987-988-991 sf that rents for $1.70-$1.69-$1.65/sf; 36 two-bedroom/two-bath units @ 1,015-1,023 sf that rent for $1.69-$1.66/sf. The average size is 827 sf with an average rental rate of $1,459/ month, or $1.76/sf. There are 127 detached garages, 24 attached garages, 189 off-street spaces & 87 street spaces. The estimated expenses for this type of apartment complex are between $6,125 and $6,300/unit. The buyer is based in Denver and Brian Johnson is VP of acquisitions. The seller is based out of Salt Lake City, UT.
Property Location: 453 Summit Blvd., Broomfield
Property Description: Vacant land, 198 units proposed
Land Size: 7.34 acres
Sales Price: $3.2M, or $10/sf, or $16,162/buildable unit
Reception No.: 2016016338
Closing Date: 12/13
Grantor: Summit Green Apartments LLC, Jonthan W. Bullen, manager, 801-961-1121
Grantee: DD Summit Blvd. LLC, c/o Davis Development, 770-474-4345,
403 Corporate Center Dr., Suite 201, Stockbridge, GA 30281
Financing: $2.25M, payable to Bank West, due 1-5-2043, SBA loan
Comments: Lot 1, Mid Cities Filing No. 23, see 2016016031. See buyer’s website, www.davisdevelopment.com
Denver County
Property Location: 600 17th St. & 1630 California St., “Dominion Towers,” Denver
Property Description: 613,527-sf, 19-story & connecting 28-story office building, YOC 1982, concrete panel construction & 6,262 sf parking lot, Energy Star labeled, LEED Gold
Land Size: 40,702 sf
Sales Price: $154.26M, or $251.43/sf
Reception No.: 2016169869
Closing Date: 11/28
Grantor: CCP BCSP Dominion Property LLC c/o Beacon Capital Partners LLC, 200 State St., 5th Floor, Boston, MA 02109
Grantee: FSP 600 17th Street LLC c/o Franklin Street Properties Corp., Jeffrey B. Carter, president, 401 Edgewater Pl., Suite 200, Wakefield, MA 01880, 800-950-6288
Comments: Lots 9-10 Block 161, see APN: 2345-28-005, containing 6,262-sf parking lot & Lots 22-32 Block 161, East Denver, see APN: 2345-28-022. The buyer plans to spend approximately $3M on renovation and leasing cost. EOG Resources Inc., which occupies approximately 177,925 sf, is the largest tenant in the building.
Property Location: 700 Broadway, Denver, “Anthem Blue Cross-Blue Shield”
Property Description: 425,853-sf, 13-story office building, YOC 1973, renovated 2015-2016 with 2.8 per 1,000 parking ratio; 86% leased to Anthem through 12-2024
Land Size: 3.51 acres
Sales Price: $80.65M, or $189.38/sf
Reception No.: 2016175969
Closing Date: 12/15
Grantor: CSHV 700 Broadway LLC c/o California State Teachers Retirement System, 100 Waterfront Place, 16th Floor, West Sacramento, CA 95605-2807
Grantee: IHP HLIC 700 Broadway Asset LLC c/o Bradford Allen Management Services LLC, 200 S. Michigan Ave., 18th Floor, Chicago, IL
Financing: $51M, payable to Goldman Sachs Mortgage Company, NYC, NY
Comments: Roger H. Clark & Steven P. Higdon are principals for the grantee, see www.bradfordallen.com. Michelle Cunningham, CFA is the signer on the deed for the grantee. See APN: 05039-04-031. The property last sold in December 2014 for $70M, reflecting an annual growth rate of 7.34%. The property was listed by Tim Richey, 303-628-7445, Mike Winn, 303-628-7447, Chad Flynn, 303-628-7467, & Geoff Baukol, 303-628-1750, of CBRE Inc. The average in-place rents are approximately $12.90/sf, triple net, reflecting a 6.675% in-place cap rate. Listing broker indicates an additional 142,000 sf potential development space on the site.
Property Location: 1900 Wazee St. & 1860 Blake St., Denver
Property Description: 61,672-sf, three-story office building, YOC 1885; “Wazee Exchange Building,” & 90,848-, 10-story office building, “Blake Street Terrace”
Land Size: 26,421 sf & 20,901 sf
Sales Price: $44.2M, or $289.80/sf
Reception No.: 2016176487
Closing Date: 12/13
Grantor: Blake Street Investments LLC c/o Vlasic Development LLC, Jeffrey Harshe, CCIM, 734-930-6700, 2723 S. State Street, Suite 250, Ann Arbor, MI
Grantee: Blake Wazee LLC, Stoltz Management, 725 Conshohocken State Rd., Bala Cynwyd, PA 19004
Financing: $30.46M, payable to ZB, NA, dba Vectra Bank, NA
Comments: See APN: 02279-13-020 & 02331-02-001. Property was listed and sold by Geoff Baukol of CBRE Inc., 303-628-1750. The two buildings total 152,520 sf and last sold for $31.7M, or $207.84/sf, Aug. 28, 2013. This reflects a total appreciation of 39.43%, or an annual growth rate of 10.75%. The Blake Street Terrace was renovated in 2008 while the Wazee Exchange Building was renovated in 2009.
Property Location: 1845 Sherman St., Denver, “Hampton Inn Downtown”
Property Description: 148-room, six-story hotel, YOC 1989
Land Size: 23,437 sf
Sales Price: $27.43M, or $185,338 per key
Reception No.: 2016176408
Closing Date: 12/15
Grantor: IA Urban Hotels Denver, c/o Xenia Hotels & Resorts, Phillip A. Wade, SVP, 407-246-8100, 200 S. Orange Ave., Suite 2700, Orlando, FL 32801
Grantee: MHF Denver Operating V LLC c/o Magna Hospitality Group, Leonard J. Grecco, VP, 401-886-4484, 300 Centerville Rd., Suite 300 E, Warwick, RI 02886
Financing: $68.88M, payable to Wells Fargo Bank, NA
Comments: See 02349-31-008. Buyer’s website is www.magnahospitality.com
Property Location: Adjacent SWC Inca St. & W. 41st Ave.; NEC Jason St. & W. 40th Ave.; SEC Jason St. & W. 41st Ave., 4001 Inca St., Denver
Property Description: Land value
Land Size: 90,760 sf
Sales Price: $6.62M, or $72.98/sf
Reception No.: 2016175184 & 2016141995
Grantor: Hainey Family LP RLLLP, Margaret K. Hainey, manager, 8080 E. 50th Pl. Denver 80238
Grantee: CD-Inca LLC by: Confluence Cos., Tony DeSimone, manager, 303-643-5775
Closing Date: 12/8 & 10/13
Financing: $3M @ 3%, due 12-1-21 payable to city and county of Denver
Comments: Lots 1-30, Block 30, Viaduct Addition to Denver, 02214-31-007, 02214-31-008, 02214-31-002, 02214-31-003, 02214-31-004, 02214-31-005 & 02214-31-009. Buyer plans to develop 125-unit apartment complex with a portion of the property allocated for affordable housing. The transaction is a combination of two separately recorded takedowns by the parties in this transaction.
Property Location: 2400-2420 High St., Denver, Denver
Property Description: 16-unit apartment complex, 8,320 sf, YOC 1953, brick
Land Size: 28,200 sf
Sales Price: $2.83M, or $176,563/door
Reception No.: 2016175780
Grantor: PRE-UPC LLC, Zvi Rudawsky, Ryan Lawless, Jason Koch & Neil Shah, managers
Grantee: Twenty-Fourth LLC, Manuel J. Martinez, manager
Closing Date: 12/14
Financing: $2.01M, payable to Capital One Multifamily Finance LLC, due 1-1-37
Comments: Seller purchased property for $1.09M, in September 2014. The 16 one-bedroom units contain 520 sf each.
Property Location: 1835-55 Logan St. & 1840 Grant St., Denver
Property Description: 45,020-sf, three-story high school, “Oscar Malo Jr. Memorial Center and Gymnasium,” YOC 1915 & 1938
Land Size: 45,992 sf
Sales Price: $3.17M
Reception No.: 2016173753
Closing Date: 12/12
Grantor: 1840 Grant Investors LLC, Grant V. Barnhill, manager, 383 Corona St., Suite 200, Denver 80218, www.shiftworkspaces.com, 303-355-5353
Grantee: Rafmo LLC c/o GFI Capital Resources Group Inc., Michael Weiser, manager, 212-668-1444, 140 Broadway, 41st Floor, NYC, NY 10005
Comments: This property was listed by Patrick Henry, 303-312-4284, of Cushman & Wakefield. See APN: 02349-08-023 & 02349-08-006 or Lots 1-8, Block 248, Clements Addition, & see APN: 02349-08-050, see Lots 1-6, North 10’ Lot 7, Block 71, H.C. Browns Addition. The Historic Preservation Tax Credit allocated $1M in tax credits to 1840 Grant St. The seller renovated the Cathedral High School into office space for Shift Workplaces.
Property Location: 2000-2018 S. Cherokee St., Denver
Property Description: 9,529-sf warehouse, YOC 1958, brick, & 3,158-sf warehouse, YOC 1978, brick, 12,687 sf
Land Size: 18,750 sf
Sales Price: $1.46M, or $115.39/sf
Reception No.: 2016175756
Closing Date: 12/14
Grantor: 2000 South Cherokee Street LLC, Kenneth B. Drost, manager
Grantee: Cherokee Street Partners LLC
Comments: This property was listed by Tyler Smith, SIOR, CCIM, Aaron Valdez & Alec Rhodes, SIOR of Cushman & Wakefield.
Property Location: 1445 S. Broadway, Denver
Property Description: 1,875-sf retail building, YOC 1896
Land Size: 6,344 sf
Sales Price: $555,000, or $293.33/sf
Reception No.: 2016170762
Closing Date: 11/10
Grantor: Good Spirits Development
Grantee: Liminal Development LLC
Comments: This property was listed by Russell Gruber of Newmark Grubb Knight Frank. Property formerly occupied by Bikes on Broadway. The buyer is a Colorado artist who may use this building for her art studio.
Property Location: 963 Federal Blvd., Denver
Property Description: 3,456-sf meeting hall building, YOC 1967, brick
Land Size: 6,250 sf
Sales Price: $375,000, or $108.51/sf
Reception No.: 2016176253
Grantor: Overseas Vets Inc.
Grantee: Bouncer Trust 86 Ridgeview Lane, Boulder 80302
Closing Date: 12/15
Comments: This property was listed by Western Investor Network, Matt Ritter, 720-344-1174 or 513-315-1267, matt.ritter@westinvestnet.com, and contains 3,600-sf single-story brick VFW Meeting Hall with 12 parking spaces. Roof was repaired in 2015.
Property Location: E/S Chambers Rd., 150’ north of Green Valley Ranch Blvd., 4836 Chambers Rd., Denver
Property Description: Vacant land
Land Size: 40,663 sf
Sales Price: $600,000, or $14.76/sf
Reception No.: 2016158074
Closing Date: 11/6
Grantor: Vons Companies Inc., Bradley R. Beckstrom, manager, 714-526-2560
Grantee: Evergreen Chambers Green Valley Ranch c/o Evergreen Devco, Tyler Carlson tcarlson@evgre.com, 303-757-0401
Comments: Part Lot 1, Block 1, Parkfield Filing No. 7, see APN: 0173-06-032. The buyer is based out of Phoenix, AZ, with offices in Glendale, California, and Denver. The seller is a supermarket chain owned by Albertsons; Albertsons & Safeway completed merger in 2015.
Property Location: NEC E. 50th Ave. & Central Park Blvd., Denver
Property Description: Vacant land, plan to build Goldfish Swim School
Land Size: 53,470 sf
Sales Price: $800,000, or $14.96/sf
Reception No.: 2016175928
Closing Date: 12/14
Grantor: FC Stapleton II LLC, Brian Fennelly, VP, 303-382-1800
Grantee: Turner Property Holdings LLC, Amy Turner & Patrick T. Turner, manager, 801-809-7250, or patrickturner30@gmail.com
2703 Galena St., Denver 80238
Financing: $400,000, payable to Wells Fargo Bank, NA, SBA loan
Comments: See Lot 1, Block 1, Stapleton Filing No. 44, 2014067794; See APN: 01153-04-001 or 9119 E. 50th Ave., Denver 80238. The building will contain 9,223-sf, single-story building that will allow 261 occupants.
Property Location: Vicinity NWC Tower Road & E. 51st Ave.
Property Description: Vacant land
Land Size: 38,438 sf
Sales Price: $72,700, or $1.89/sf
Reception No.: 2016176699
Closing Date: 12/16
Grantor: State Board of Land Commissioners, Gary Butterworth, president & William E. Ryan, director
Grantee: Oakwood Homes LLC, 4908 Tower Rd., Denver 80249
Comments: Dated 12-10-2015 pursuant to Board Order No. 2015-078, agreement to Non-Simultaneous Exchange of Real Property dated 6-6-2016. Pt Lots 2,3, Block 1, Tower 160 Subdivision No. 2, SE1/4 Section 16, T3S, R66W
Jefferson County
Location: 14455-14715 W. 64th Ave., Arvada
Property Description: 83,278-sf shopping center, YOC 2001-2004, masonry
Land Size: 14.65 acres
Sales Price: $15.9M, or $190.93/sf
Reception No.: 2016102743
Closing Date: 9/30
Grantor: Arvada West 04 LLC, Alan F. Fox, president, or Cathy Reynolds, VP, 12411 Ventura Blvd., Studio City, CA 91604
Grantee: Starboard Arvada LLC, 19600 Fairchild Rd., Suite 125, Irvine, CA 92612,
6310 Lamar Ave., Overland Park, KS 66202
Comments: Lots 1A, 1B, Lot 3, Arvada West Town Center; see APN: 39-063-06-011,012 & 009; Lots 6, 7, 8, 9 Arvada West Town Center, First Amendment, all sold for $13.20M, see APN: 39-063-06-021, 023,024,025 & Lot 10, Arvada Town Center First Filing sold for $650,000; see SEC W. 65th Way & Indiana St. or APN: 39-063-06-027 & RH Group Bonner LLC of 606 S. Olive St., Suite 600, Los Angeles, CA 90014 purchased Lots 4, 5 Arvada West Town Center, See APN: 39-063-06-019 or 14405 W. 64th Ave., 2,964-sf retail building, YOC 2004, & 1,212-sf car wash, YOC 2004, sold to RH Group Bonner for $2.047M; 39-063-06018, or 14565 W. 64th Ave., Wendy’s, 3,284 sf, YOC 2001. Total price of center was $15.9M. Listed by Hanley Investment Group, Kevin Fryman, 949-585-7674. In-place cap rate was 6.8%.
Property Location: 9046 W. Bowles Ave., Littleton, “Bowles Ave. Marketplace”
Property Description: 8,068-sf retail building, YOC 1984, brick
Land Size: 43,192 sf
Sales Price: $2.99M, or $370.60/sf
Reception No.: 2016129975
Closing Date: 12/8
Grantor: BAM Investment Management LLC, Thomas C. Skaar, manager, 426 Mossy Rock Lane, Coeur D’Alene, ID, 83814
Grantee: 9046 LLC, Sean Guiry, manager, 303-972-9393, 620 N. Canosa Ct., Denver
Comments: See APN: 59-221-06-001 – Lot 2, Bowles Avenue Marketplace. The property was listed by Riki Hashimoto, 303-260-4383, and Dan Grooters, 303-260-4384, of NGKF Capital Partners.
Property Location: 4415 McIntyre St., Golden “7-Eleven store”
Property Description: 3,062-sf convenience store, YOC 2016, masonry
Land Size: 1.79 acres
Sales Price: $2.88M, or $938.93/sf
Reception No.: 2016126499
Closing Date: 11/28
Grantor: Confluent Development LLC, Jonathan Rankin, SVP
Grantee: Charles McBride and Claire McBride Trustees of McBride Declaration Trust Dated April 27, 1994, 163 Lagunitas Rd., Ross, CA 94957
Comments: Lot 1, Block 1, Confluent Marketplace Filing No. 1, see APN: 30-242-01-036. Property was marketed by Zandy Smith, 415-274-2707, and sold for an in-place cap rate of 5.17%, based on a 15-year lease with NOI of $148,552 as per CREXi listing information on www.crexi.com.
Property Location: 831 Pine Ridge Rd., Golden
Property Description: 13,096-sf, two-story office warehouse, YOC 2008, concrete panel
Land Size: 1.55 acres
Sales Price: $2.13M, or $162.26/sf
Reception No.: 2016128427
Closing Date: 12/5
Grantor: Outlast Holdings LLC by: CoorsTek LLC, Michael L. Coors, manager
Grantee: Pine Ridge Road LLC, Dr. Hunter Moore, manager, 19782 W. 59th Ave., Golden 80403
Comments: The seller leased back the entire space from the buyer through July 2023. Outlast Technologies, 303-581-0801, was founded in 1990 and designed instrumentation for NASA to protect astronauts from temperature fluctuations in space. See APN: 30-212-09-002. The in-place cap rate is 7.07%, which computes to a lease rate of approximately $11.48/sf, triple net. The building was renovated in 2014. The property was listed by Cushman & Wakefield, Campbell Davis.
Property Location: 6011 W. 44th Ave., Wheat Ridge, “U.S. Bank”
Property Description: 14,630-sf bank, YOC 1958, brick construction, 58 spaces
Land Size: 1.15 acres
Sales Price: $1.98M, or $135.34/sf
Reception No.: 2016129648
Closing Date: 12/6
Grantor: MVT LLC, Michael S. Cessa, manager, 3492 W. Tiny Bird Ct., Tucson, AZ 85745
Grantee: USBK LLC, Rose & Nathan Chao, 210 Canal St., Suite 301, NYC NY 10013
Financing: $1.12M, payable to Wells Fargo Bank, NA due 12-15-21
Comments: The tenant is U.S Bank and the in-place cap rate is 6.9%. The lease rate is $9.40/sf, triple net. The listing brokers include: R.C. Myles, CCIM, SIOR, ULI, 303-312-4226, James Brady, 303-312-4292, Campbell Davis & Chris Ball, SIOR, CCIM, 303-312-4280, all with Cushman & Wakefield, 303-292-3700. See 39-242-00-017.
Property Location: 670 Miller Ct. & 688 Miller Ct., Lakewood
Property Description: Two eight-unit, two-story apartment building, YOC 1960, 5,056 sf each, total 11,112 sf. Sixteen units, brick
Land Size: 36,000 sf
Sales Price: $1.45M, or $90,625/door, or 130.49/sf
Reception No.: 2016129801
Closing Date: 12/7
Grantor: Seganti Properties Corporation, Anthony G. Seganti, manager
Grantee: Wheat Ridge Commons LLC, P.O. Box 36061, Denver 80236
Financing: $1.12M, payable to Wells Fargo Bank, NA, due 12-15-21
Comments: Lots 3-6, Block 6, Majestic Heights, Lakewood, see APN: 49-044-15-038 & 49-044-15-037
Property Location: 3955 Wadsworth Blvd., Wheat Ridge
Property Description: 2,714-sf fast-food restaurant, YOC 1978, masonry
Land Size: 30,971 sf
Sales Price: $1.08M, or $397.28/sf
Reception No.: 2016084255
Closing Date: 11/9
Grantor: Microproperties Indiana LLC c/o US Restaurant Properties, Robert J. Stetson, CEO, 8140 Walnut Hill Lane, Suite 400, Dallas, TX 75231-4336
Grantee: FCPT Holdings LLC, Gerald Morgan, CFO, c/o Four Corners Property Trust Inc., 415-965-8032, Valley, CA 94941
Financing: $1.95M, payable to Bank of Colorado Lakewood
Comments: See APN: 39-233-00-020. The property last sold in April 2011 for $748,000. See Assignment and Assumption of Lease as of 11-9-16, original date was 9-28-77, ending March 29, 2017.
