Winslow Report 10-3-16

2070
2070
Share this Article
Facebook Twitter LinkedIn Google Pinterest StumbleUpon Email

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

Property Location: 10101 Washington St., Thornton, “Meadows at Town Center”

Property Description: 104-unit, two-story brick with mansard roof, 92,679 sf, YOC 1974

Land Size: 9.86 acres

Sales Price: $14.63M

Reception No.: D6102135

Closing Date: 9/12

Grantor: Lamplighter Village LLC by: Central Development, Jeremy Records, manager, 303-628-0200, jeremy@centraldevelopment.com

Grantee: TM Meadows Associates LLC, by: TM Freshwater Partners LLC, Aleksey Rozenfield, manager, 2718 All View Way, Belmont, CA 94082

Financing: $11.25M, payable to Walker & Dunlop LLC, due 10-1-23

Comments: Seller purchased the property from Citywide Banks in an REO transaction in December 2010 for $4.24M. The property was listed and sold by the ARA investment team of Terrance Hunt, Shane Ozment, Justin Hunt, Andy Hellman, Anna Stevens and Amanda Melum, 303-260-4400. There are 33 one-bedroom units @ 723 sf renting for $949-$999, or $1.31-$1.38/sf; 59 two-bedroom/one-bath units @ 948 sf that rent for $1,249-$1,360, or $1.32-$1.43/sf; and 12 three-bedroom/two-bath units @ 1,074 sf renting for $1,500 to $1,700, or $1.40-$1.58/sf, as of 9-20-16. The gas is master metered but paid by tenant while electricity is separately metered. The owner pays for trash while the tenant pays for water and sewer. There are 199 parking spaces. Expenses on this property are estimated at slightly less than $5,100/door.

 

Property Location: 2790 Laredo St., Aurora, “Specialty Building Lumber Yard”

Property Description: 25,000-sf industrial building, includes 2,500-sf office area, YOC 2015

Land Size: 8.09 acres, includes 6.53 acres of hard-surface area

Sales Price: $4.95M, or $198/sf

Reception No.: 2016000074342

Closing Date: 9/1

Grantor: Specialty Building LLC, Timothy J. Leipzig, manager, 303-288-8484

Grantee: WT Eagleview LLC, Steven F. Spierer, John A. Woodward, Joseph S. Hohm & Robert L. Riley, managers, 2 Inverness Dr. East, Suite 200, Englewood 80112

Financing: $2.4M, payable to JPMorgan Chase Bank, due 10-1-29

Comments: There are 38 parking spaces for the building. The property is located at the southeast corner of Smith Road & Laredo St.

 

Property Location: 9461 Willow Court, Henderson, “UE Compression Building”

Property Description: 100,490-sf industrial building, YOC 2012, masonry with 34’ clear height, 16 drive-in doors, seven cranes, paint booth & 3.5 acres of excess land

Land Size: 17.97 acres

Sales Price: $10.53M, or $105/sf

Reception No.: 2016000074342

Closing Date: 8/26

Grantor: UE Compression LLC, Amy D. Husted, manager & VP

Grantee: Merritt Professional Properties LLC, 303-289-2286, Attn: Everett T. Merritt, manager

Financing: $5.32M, payable to Standard Insurance Company due 9-1-41

Comments: The property was listed by Jim Bolt, 720-528-6310, Tyler Carner, 720-528-6397 and Jeremy Ballenger, 720-528-6383, of CBRE Inc. The in-place cap rate is 6.7% with a single tenant, UE Compression. The building was constructed for the tenant in 2012. The APN is: 01721-21-1-02-006, reference by Adams County Legal Description as Lot 1, Block 1, Marty Farms Sub., Filing No. 2, and contains 16.29 acres; and 01721-21-1-02-009, referenced as Tract B and contains 1.677 acres of vacant land.

 

Property Location: NWC W. 116th Ave. & Huron St., Westminster

Property Description:

Land Size: 25.77 acres

Sales Price: $6.42M, or $6/sf

Reception No.: 2016000074342

Closing Date: 8/31

Grantor: IBC Denver VIII LW IV Holdings, Brian C. Mott, manager, 720-259-1435

Grantee: WL Park 12 Hundred Owner LLC, 6720 N Scottsdale Road, Suite 270, Scottsdale, AZ 85253

Financing: $5.32M payable to Standard Insurance Company due 9-1-41

Comments: See new file plat 2016000068916, Lots 3-5, Fourth Replat Technologies recorded 8-22-16. The property has 419.85’ frontage on W. 116th Ave., 1,884.29’ frontage on Huron St. The site on the northwest corner of W. 116th Ave. & Huron St. and will contain a three-story office building and a restaurant. The site directly to the north will contain four flex industrial buildings. Jason Addlesperger, David Lee and Scott Garel of Newmark Grubb Knight Frank handled the transaction and will handle the leasing for the property.

 

Property Location: 10699-10701 Melody Dr., Northglenn

Property Description: 65,519-sf, six-story office building, YOC 1972, concrete 6,320-sf office building, YOC 1968

Land Size: 4.16 acres

Sales Price: $3.8M, or $58/sf

Reception No.: 2016000073089

Closing Date: 8/31

Grantor: 10701 Melody Drive LLC, Robert W. Noffsinger Jr., manager

970-352-0463, Greeley 80631

Grantee: Concentus Partners LLC, Scott Pudalov, manager, 437 18th St., Boulder 80302

Financing: $3.2M, payable to FirstBank @ 4.35%, payable 9-1-26

Comments: See APN: 01719-10-3-04-025, 026, 027. Wells Fargo is the anchor bank in the building. Scott Fischer of Unique Properties Inc.-TCN Worldwide was the leasing broker, 303-512-1158.

 

Property Location: 12076 Grant St., Thornton

Property Description: 57,018-sf, three-story office building, YOC 1972

Land Size: 7.93 acres

Sales Price: $3.19M, or $56/sf

Reception No.: 2016000073202

Closing Date: 8/29

Grantor: DigitalGlobe Inc., Grove N Wray, SVP, www.digitalglobe.com

Grantee: Sasal LLC, Saeid Saeb, manager, 303-962-9300, Westminster 80031

Financing: $2.79M, payable to JPMorgan Bank, payable 8-31-18

Comments: See APN: 1573-34-0-03-026. Property was listed for sale or lease by Garrett Johnson, 303-302-1618, gjohnson@cresa.com. Buyer’s website is www.rocksol.com. Jeffrey R. Tarr is president and CEO of DigitalGlobe Inc. Net rentable area is 63,198 sf as reflected on Cresa listing brochure with 234 parking spaces.

Arapahoe County

Property Location: 6312 S. Fiddlers Green Circle, Greenwood Village, “Tuscany Plaza”

Property Description: 259,118-sf, six-story office building, YOC 1985, tile & masonry & 197,115-sf, three-level parking garage, YOC 1984

Land Size: 8.74 acres

Sales Price: $46.6M, or $180/sf

Reception No.: D6101498

Closing Date: 9/7

Grantor: CREF Tuscany Plaza LLC c/o Cornerstone Real Estate Advisers LLC

Grantee: GPIF Tuscany Plaza LLC c/o Crescent Real Estate LLC, Steve Eaton, manager, 303-395-1890

Financing: $30.6M, payable to Life Insurance Company of the Southwest

Comments: Suzanne Stevens, 817-321-1566, is the signatory of the buyer, whose corporate office is: 777 Main St., Suite 2260, Fort Worth, TX. The lender is based out of Montpelier, VT 05604. John Marold of CBRE Inc. was the leasing broker for CBRE Inc., 720-528-6355, and Chad Flynn, Tim Richey & Michael Winn of CBRE were the listing brokers.

 

Property Location: 8450 E Crescent Pkwy., Englewood, “Crescent V”

Property Description: 89,895-sf, four-story office building, YOC 2000, concrete

Land Size: 4.43 acres

Sales Price: $21.7M, or $241/sf

Reception No.: D6103885

Closing Date: 9/15

Grantor: 8450 Crescent Parkway LLC by: Principal Real Estate Investors, Doug Kintzle, 515-248-3316, & Todd R. O’Brien, 515-235-5409

Grantee: 8450 Crescent LLC, by: Samuel Engineering Inc., Everod Samuel, pres., & Claudia Samuel, CEO, 303-714-4840, 8450 Crescent Pkwy., Suite 200, Greenwood Village 80111

Comments: This building is LEED Certified and last sold July 2007 for $19.95M, or $222/sf or a modest gain of 8.77% or a 0.08% monthly growth rate.

 

Property Location: 6377 S. Revere Pkwy., Centennial, “Revere Corporate Center”

Property Description: 63,364-sf, four-story office building, YOC 1999, masonry

Land Size: 5.27 acres

Sales Price: $6.69M, or $106/sf

Reception No.: D6105320

Closing Date: 9/16

Grantor: RCS – Revere LP, Sharon K. Eshima, manager, Real Capital Solutions Inc.

Grantee: Pericles Associates LLC c/o Zaragon, Inc., Richard Perlman & Lisa Miner, 312-867-3840, 875 N. Michigan Ave., #3840, Chicago 60611

Financing: $5M, payable to PrivateBank & Trust, due 9-1-21

Comments: This building was listed for sale by Jason Schmidt of JLL, 303-217-7953. The anchor tenant is Credit Union Indirect Lending Association. The building is 96% occupied. The property was listed for sale for $7.15M. The seller can be reached at 303-466-2500. See APN: 2075-24-3-22-001.

 

Property Location: West side of S. Blackhawk St., south of E. Briarwood Ave., Centennial

Property Description: Vacant land

Land Size: 25 acres

Sales Price: $4.5M, or $4/sf

Reception No.: D6101524

Closing Date: 9/9

Grantor: Jordan-Arapahoe LLP, Peter N. Maniatis & Chris M. Wittenbrink, general partners

Grantee: Encompass Blanca LLC c/o Central Development, Jeremy Records, principal, Jeremy@centraldevelopment.com

Financing: Cash

Comments: See APN: 2073-30-2-08-004 = 4.4 acres, 2073-30-2-08-005 = 6.72 acres, 2073-30-3-01-001 = 6.22 acres, 2073-30-2-01-002 = 8.31 acres

2073-30-1-01-003 = 6.72 acres, totaling 32.37 acres. This property is listed by Kittie Hook, 303-260-4395, & Wade Fletcher, 720-266-3213

 

Property Location: 3440 S. Tower Road, Aurora, “Whole Foods”

Property Description: 15,052-sf retail building, YOC 2015, masonry with 64 parking spaces with 31,266-sf hard-surface area

Land Size: 1.33 acres

Sales Price: $6.5M, or $430/sf

Reception No.: D6099386

Closing Date: 8/29

Grantor: EVC South Aurora LLC, Luke R. Spellmeier, manager, 785-272-1398, Ext. 154, or Denver office, 720-502-5190

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

Financing: $4.65M, due 9-1-31, payable to Public Service Credit Union

Comments: *Building size reflects Arapahoe County Assessor’s building size. This property was listed by Brad Lyons, 720-528-6351, & Matt Hendrichs, 720-528-6308, both of CBRE Inc.-Retail Division. The buyer was represented by Justin Brockman & Jules Hochman of Pinnacle Real Estate Advisors. There is a 15-year lease plus options. The property sold on a 6.2% in-place cap rate.

 

Property Location: 154 W. Powers, Littleton, “Prince Phillip Apartments”

Property Description: 23-unit, two-story-plus-garden -evel apt., 13,420 sf, YOC 1961, brick, five studio units, six one-bedroom units & 12 two-bedroom units

Land Size: 15,987 sf

Sales Price: $2.75M, or $119,565/door, or $205/sf

Reception No.: D6102135

Closing Date: 9/9

Grantor: Power Apts. LLC, Dan Howell, manager

Grantee: CIBI Investments LP by: Mame LLC, Carmen Bianchi, trustee,

858-793-2445, & Powers Apts. LLC, Dr. Gary Ghiselli, manager, 303-7836-1300

Financing: $1.87M, payable to Red Mortgage Capital LLC, due 10-1-36

Comments: Property was listed and sold by Josh Newell of Pinnacle Property Advisors LLC, 303-962-9559.

 

Property Location: 750 Chambers Road, Aurora

Property Description: 10,255-sf church plus 6,760-sf finished basement area with approximately 583 seats, YOC 2005, stucco/block, 17,015 sf total

Land Size: 2 acres

Sales Price: $2.3M, or $135/sf

Reception No.: D6101528

Closing Date: 9/9

Grantor: New Beginning Worship Center, Ramona Brown, VP

Grantee: Jurisdiction Colorado Church God Christ Inc., Roosevelt Dunn, bishop

Comments: See APN: 1975-05-3-43-001.

 

Property Location: 7017 S. Clinton St., Greenwood Village, “IHOP” restaurant

Property Description: 4,694-sf restaurant, YOC 1996, stucco

Land Size: 1.39 acres

Sales Price: $2.2M, or $469/sf

Reception No.: D6101864

Closing Date: 8/30

Grantor: Net Lease Funding 2005 LP by: Vereit Net Lease, Todd J. Weiss

Grantee: ZArapahoe Properties LLC, Tayseer Zuaiter, member

Financing: $1.1M, payable to Bank West, due 10-5-36, SBA loan

Comments: See APN: 2075-27-2-20-001, buyer has five IHOP franchise restaurants in the Denver metro area, including this one. Seller was part of American Realty Capital Properties, 602-778-8700. Property was listed by Gary Chou of Matthews Properties, 310-919-5827.

 

Property Location: 6482 S. Parker Road, Aurora

Property Description: 5,307-sf restaurant building, YOC 1998, masonry, seating for 189 patrons with 109 parking spaces

Land Size: 1.12 acres

Sales Price: $1.7M, or $320/sf

Reception No.: D6103979

Closing Date: 9/13

Grantor: Dojimisu LLC, James D. Lundstrom, manager

Grantee: Kobold Colorado I LLC, Steven I. Davis, manager, 480-429-4580,

8350 E. Raintree Dr., Suite 130, Scottsdale, AZ 85260

Comments: This building was listed and sold by Fuller Real Estate LLC, Bob Leino, 720-287-5402, & Andrew Dodgen, 720-287-5412. The roof was recently replaced & building was remodeled in 2006. The APN is 2073-20-3-08-008. The property was listed in March 2015.

Broomfield County

Property Location: NWC Sheridan Pkwy. & W. 160th Ave.; also fronts SWC Sheridan Pkwy. & Preble Creek Pkwy., Broomfield

Property Description
: Vacant land

Land Size: 106.32 acres

Sales Price: $18.5M, or $4/sf

Reception No.: 2016010765

Closing Date: 8/30

Grantor: McWhinney CCOB Land Investments LLC, Troy C. McWhinney, chief investment officer, 970-962-9990, troym@mcwhinney.com

Grantee: JPMorgan Chase Bank, NA, J. Scott Bernardi

Comments: Lot 1, Block 1, Northpark Filing No. 4, see 2011002006. Frank Kelley of CBRE was involved in the transaction but could not comment on the deal.

 

Property Location: NWC Interstate 25 & Colorado Highway 7 (Baseline Road), Broomfield

Property Description
: Vacant land

Land Size: 109.45 acres

Sales Price: $11.25M, or $2/sf

Reception No.: 2016011230

Closing Date: 8/24

Grantor: Northlands Colorado LLC, David J. Goldberg, manager, 303-799-6300

Grantee: IKEA Property Inc., Lars Petersson, president, 420 Alan Wood Road, Conshohocken, PA 19428

Comments: Lot 1-17, tract E. Northlands Filing No. 1. 2007003088. The 17 lots are platted and include 90.34 acres while Tract E contains 6.18 acres for a total of 96.52 acres that was conveyed from the grantor to IKEA. Old plat was vacated as per Ordinance No. 2028, “An ordinance vacating in part the final plat for Northlands Filing No. 1.” The new legal is Lot 1, Northlands Filing No. 1 Final Plat and can be view via Reception No. 2016011233, Broomfield County Clerk and Recorder.

 

Property Location: W/S WCR 7, E/S Sheridan Pkwy., extended north approximately 1,500 ‘ north of Highway 7, Broomfield County

Property Description: 86 vacant lots

Land Size: 15.27 acres

Sales Price: $4.74M, or $3/sf

Reception No.: 2016010663

Closing Date: 8/30

Grantor: Vista Highlands LLC, Barry Talley, manager

Grantee: Meritage Homes of Colorado

Comments: Lots 1-7, Block 1; Lots 1-10, Block 3; Lots 1-5, Block 4; Lots 1-12, Block 7; Lots 1-16, Block 8; Lots 1-16, Block 9; Lots 1-8, Block 10; Lots 1-12, Block 14; Highlands Filing No. 1 Replat A, County of Broomfield 686220

 

Property Location: 510 Compton St., Broomfield

Property Description: 20,340-sf office-flex building, YOC 1997, masonry

Land Size: Two acres

Sales Price: $2.25M, or $111/sf

Reception No.: 2016010457

Closing Date: 8/25

Grantor: 510 Broomfield LLC, Don Shonkwiler, manager

Grantee: WFP Carbon LLC, Nathan David Workman, manager, 727-461-5666,

12651 Walsingham Road, Suite B, Largo, FL 33774

Financing: $1.4M, @ 3.95%, due 8-1-26, payable to FirstBank

Comments: See APN: 1575-341-06-003. Tenants include Fastenal Company, RT Systems, Crystal Diagnostics Ltd. & Liberty Communications. Buyer’s website is www.workmanproperties.com

Denver County

Property Location: 820 Sherman St., Denver, “Moto Apartments”

Property Description: 64-unit six-story apartment, 43,720 net rentable sf, YOC 2016, 62 covered parking spaces, masonry

Land Size: 17,188 sf

Sales Price: $25.25M, or $394,531/unit, or $578/sf

Reception No.: 2016127134

Closing Date: 9/15

Grantor: 8th and Sherman Development LLC, Brent Farber, manager, c/o Elevation Development Group, 303-333-4993

Grantee: Denver Moto LLC c/o John Evilsizor, 925-736-8835, Danville, CA 91302

Financing: $15.14M, payable to Walker & Dunlop LLC

Comments: The 3,000-sf retail space is leased to the Black Eye Coffee Shop and Proper Barber Shop. The first two floors include parking area. The upper deck includes a pool and community courtyard. The property is on the northeast corner of Sherman St. & E. 8th Ave. There are 16 studios @ 592 sf renting from $2/sf to $2.70/sf; 20 one-bedroom units @ 577 sf renting from $2.34/sf to $2.77/sf; 20 one-bedroom units @ 741 sf renting from $2.09/sf; four two-bedroom/one-baths @ 909 sf renting from $2.20/sf; and four two-bedroom/two-bath units @ 1,063 sf renting from $.3.01/sf. The average size is 683 sf with a rental range from $2.28/sf to $2.55/sf. There is an additional $150/month for covered parking and $50/month for storage.

 

Property Location: 3200-3220-3254 Walnut St., & 3235 Larimer St., Denver

Property Description: 11,880-sf warehouse, YOC 1973; 29,432-sf, two-story factory, YOC 1958; masonry; 11,676-sf warehouse, YOC 1913; brick, 8,368-sf warehouse, YOC 1928, brick, land value

Land Size: 106,294 sf

Sales Price: $15M, or $141/sf, land value, or $64,655/buildable unit

Reception No.: 2016122695

Closing Date: 9/8

Grantor: Kaatz Associates II LLLP, et al., Daniel Kaatz, general partner, 303-292-3550

Grantee: Camden USA Inc., 713-354-2500, Todd Triggs, VP, 11 Greenway Plaza, Suite 2400, Houston, TX 77046

Financing: Cash

Comments: Lots 1-32, Block 22, Case & Ebert’s Addition, bounded by Larimer St., 32nd St., Walnut St. & 33rd St. Tyler Carner, Jeremy Ballenger & Marty Roth of CBRE Inc. handled the transaction. The property has been under contract since late 2015, subject to approval for a three-story & a five-story apartment building containing a total of 232 units. A three-story building would wrap around a six-story parking structure. The zoning was changed to C-MX-5 and C-MX-3 in August.

 

Property Location: 1599 Williams St., Denver, “William Tell Apartments”

Property Description: *81-unit, nine-story apartment building, 66,430 sf, YOC 1964, concrete precast panel

Land Size: 23,440 sf

Sales Price: $9.7M, or $119,753/door, or $146/sf

Reception No.: 2016125555

Closing Date: 9/15

Grantor: William Tell Apartments Inc., Brothers Redevelopment Inc.

Grantee: William Tell Investors LLC c/o GHC Housing Partners, Gregory F. Perlman, manager, 818-808-0600

Financing: $11.5M, due 9-1-49 payable to CitiBank, NA, Colorado Housing and Finance Authority

Comments: This property is an affordable housing development and will remain so. The seller was represented by Joe Hornstein & Scott Fetter of Pinnacle Real Estate Advisors LLC, 303-962-9547, while the buyer was represented by J.B Hochman and Justin Brockman, also of Pinnacle. There are 72 one-bedroom units, eight studio units and one two-bedroom unit. Monique Lawshe, VP, & R.J. Miller, VP, of GHC Housing Partners are responsible for acquisitions. An agreement is in place between William Tell Investors LLC, buyer, and Secretary of Housing and Urban Development, HUD, for the housing assistance payments, HAP, for 20 additional years pursuant to Section 524 of MAHRA, renewal contract.

 

Property Location: 5200 Smith Road, Denver

Property Description: 150,001-sf manufacturing facility, YOC 1964, masonry, 22 dock-high doors, 137,672-sf warehouse space & 12,329 sf of two-level office space

Land Size: 9.88 acres

Sales Price: $4.35M, or $29/sf

Reception No.: 2016127026

Closing Date: 9/6

Grantor: Moreland Properties LLC, Douglas Moreland, manager

Grantee: Capital Smith LLC, Bruce Smith Sr., 58%, 4800 Brighton LLC, Bill Vassil, manager, 21%, & Blue Mountain Ltd., 21%, 2429 Chase Lane, Lakewood 80227

Comments: The property is sprinkled and rail served with trailer parking. It is unknown is this transaction is arms-length.

 

Property Location: 2550-2560 Ogden St., Denver

Property Description: *22-unit, two-story-plus-garden-level apartment building, 19,980 sf, YOC 1963, brick

Land Size: 18,750 sf

Sales Price: $3.5M, or $159,091/door, or $175/sf

Reception No.: 2016123358

Closing Date: 9/9

Grantor: Olive Tree Apartments LLC, William A. Bivens Jr. & Kevin P. Higgins, managers

Grantee: Olive Tree Apts. LLC, Rawleigh Pyne, manager, 212-269-4888

Financing: $2.8M, payable to Arbor Commercial Funding, due 10-1-46

Comments: This property is a low-income tax credit property and was listed by Kevin Higgins of Unique Properties Inc., 303-321-5888. There are 14 two-bedroom units, six three-bedroom units and two four-bedroom units. Buyer’s website is www.pyneco.com

 

Property Location: 2880 S. Federal Blvd., Denver, “Avon Apartments”

Property Description: 36-unit, three-story apartment building, 20,760 sf, YOC 1969, brick

Land Size: 34,164 sf

Sales Price: $3.45M, or $95,833/door, or $166/sf

Reception No.: 2016126303

Closing Date: 9/14

Grantor: Avon Apartments LLC, Carol J. Brooks, manager, & Peter D. Robinson Trust, Robert Ray I LLP aka PRD Properties LLP

Grantee: Spur Holding LP, Gary T. Randolph, manager, 281-344-0225, 5610 FM 2218 Rd., Richmond, TX 77469-8966

Financing: $2.76M, payable to ZB, NA dba Amegy Bank, Rosenberg, TX 77471

Comments: See APN: 05321-08-048. There are 27 one-bedroom units at 620 sf and nine two-bedroom units at 725 sf.

           

Property Location: 1423 S. Pearl St., Denver  

Property Description: 2,727-sf office building, YOC 1907, masonry & frame, renovated in 2010, with eight parking spaces

Land Size: 4,687 sf

Sales Price: $1.45M, or $530/sf

Reception No.: 2016122886

Closing Date: 9/8

Grantor: 1423 S. Pearl St. LLC, Jeffrey Hutcheson & Seth Meyer, managers

Grantee: OTUBNS Pearl LLC, David E. Gallegos, manager

Financing: $1.1M, payable to Sunflower Bank, NA

Comments: See APN: 05221-30-023. This property was listed by Tim Finholm & Sam Leger of Unique Properties Inc., 303-321-5888.

 

Property Location: 5545 E. Yale Ave., Denver

Property Description: *Eight-unit garden-level apartment, 4,672 sf, YOC 1960, brick

Land Size: 8,660 sf

Sales Price: $1.1M, or $137,375/door, or $235/sf

Reception No.: 2016123437

Closing Date: 9/12

Grantor: Redbrick Yale Group LLC, William D. Evans Jr., manager, 303-951-7000

Grantee: Philip & Lori Loveland Trust & Eric Helms, 5777 E. Evans Ave., Denver

Financing: $769,300, payable to JPMorgan Chase, due 10-1-46

Comments: See APN: 02342-28-042. This property was listed by Cody Stambaugh & Peter Sengelmann & Jeff Johnson , 303-962-9556, of Pinnacle Real Estate Advisors LLC. *Formerly a seven-unit apartment as owner converted property into eight units. Property rents have increased considerably since listing brochure was made. Property is managed by Compass Realty, 303-747-4782, and a 575-sf one-bedroom unit was available as of 9-16 for $995/month. Owner pays water, sewer, hot water and garbage while tenant pays gas and electric.

 

Property Location: 1648-1650 Julian St., SEC Julian St. & W. 17th Ave., Denver

Property Description: Residential improvements, land value

Land Size: 12,700 sf

Sales Price: $995,000, or $78/sf

Reception No.: 2016122776

Closing Date: 9/8

Grantor: Tony E. Medina, et al.

Grantee: Sloans 17 Townhomes LLC, Leon Cisneros, manager

Financing: $1.8M, payable to Lead Funding II LLC due 3-6-17

Comments: 17 townhome units proposed for rental

 

Property Location: 1800 Glenarm Pl., Unit 103, Denver  

Property Description: 4,218-sf office condo, YOC 1980, masonry

Land Size: n/a

Sales Price: $818,250, or $194/sf

Reception No.: 2016126255

Closing Date: 9/16

Grantor: The First National Bank of Santa Fe, NA, Andrea Hegathen, SVP

Grantee: Contingent LLC, Cornell Johnson, manager, 303-298-8598

Financing: $850,000, payable to UMB Bank, NA

Comments: This property was listed by Todd Snyder, 720-881-7533, of NAI Shames Makovsky. Buyer will relocate from the ninth floor of this building into the ground floor.

 

Property Location: 2223 Welton St., Denver

Property Description: Vacant land

Land Size: 3,133 sf

Sales Price: $290,000, or $93/sf, or *$9,667/buildable unit

Reception No.: 2016124739

Closing Date: 9/13

Grantor: Cherry Street Partners LLC, Robert A. Smith, manager

Grantee: Stratus Welton LLC, Richard Dean, manager

Financing: $195,000, payable to BRELF II

Comments: See APN: 02342-28-042. This property was listed Billy Riesing, 303-847-5179, of Pinnacle Real Estate Advisors and sold by Rob Lawson, 303-962-9537, of the same company. Buyer is proposing constructing four to six micro-units/floor, total of 30 units, and will go up five floors with a footprint of approximately 3,100 sf. *Price per buildable unit is an estimate by Winslow Property Consultants of what the final product may total, as the buyer is hoping for six units/floor, reflecting 400 sf net rentable area/micro unit. The property had several offers the first day it was listed and sold for $15,000 more than the asking price.

Douglas County

Property Location: 600 W County Line Road, Littleton

Property Description: 340-unit, two-story apartment building, 305,030 sf plus 7,100-sf clubhouse, YOC 1993

Land Size: 20.63 acres

Sales Price: $81.13M, or $238,603/unit, or $266/sf

Reception No.: 201664177

Closing Date: 9/15

Grantor: Bluffs at Highlands Ranch LLC c/o JPMorgan Investment Inc., Brett T. Kahn, executive director, 270 Park Ave., NYC, NY 10017

Grantee: SRGMF II County Line Highlands Ranch LLC c/o Sares-Regis Group, Kenneth M. Coatsworth, VP, 18802 Bardeen Ave., Irvine, CA 92612

Financing: $57.26M, due 10-1-23, payable to CBRE Capital Markets Inc.

Comments: Lot 1-A, Highlands Ranch Filing No. 6-3rd Amendment. The one-bedroom unit with 696 sf rents for $1,235/mo., or $1.77/sf; the three-bedroom, two-bath units with 1,214 sf rent for $1,869/mo., or $1.54/sf;

 

Property Location: West corner Arlington Drive & Scott Road, Parker

Property Description: Vacant land

Land Size: 50.87 acres

Sales Price: $4.3M, or $28,515/acre

Reception No.: 2016064480

Closing Date: 9/15

Grantor: Arlington Associates LLLP, Steven M. Cohen, partner

Grantee: Forestar USA Real Estate Group

Comments: See APN: 2349-090-00-004 = 137 acres, 2349-094-00-001 = 13.73 acres

 

Property Location: East corner Low Meadow Blvd. & Red Hawk Drive, Castle Rock

Property Description: 98 residential lots

Land Size: 10.7 acres within the 98 lots and 5.72 acres within the three tracts

Sales Price: $3.5M, or $5/sf gross, & $7/sf net, or $35,500/lot

Reception No.: 2016065154

Closing Date: 9/19

Grantor: Castle Rock Development, Jim Riley, president

Grantee: Century at the Meadows LLC

Comments: Lots 1-16, Block 1; Lots 1-11, Block 2; Lots 1-19, Block 3; Lots 1-12, Block 4,; Lots 1-12, Block 5; Lots 1-28, Block 6; Tracts A, B, & D, The Meadows Filing No. 18, 12th amendment plat, see 2016061493. The total lots and tracts equate to 16.42 acres.

 

Property Location: 9932 Twenty Mile Road, Parker, “former Applebee’s”

Property Description: 5,429-sf restaurant, YOC 2005, masonry/stucco

Land Size: 1.26 acres

Sales Price: $1.58M, or $290/sf

Reception No.: 2016066257

Closing Date: 9/15

Grantor: RCI Realty LLC, William H Ferguson, member

Grantee: Kobold Colorado 3 LLC, Steven I. Davis, manager, 480-429-4580,

8350 E Raintree Drive, Suite 130, Scottsdale, AZ 85260

Comments: See APN: 2233-152-07-006, Lot 4A, Lincoln Meadows Filing No. 2, Amendment No. 1. Restaurant has been closed since April 2010

Jefferson County

Property Location: 3940 S. Teller St., Lakewood, “Addenbrooke Classical Academy”

Property Description: 68,165-sf school building, YOC 2002 & 3.29-acre site

Land Size: 11.17 acres

Sales Price: $11.5M, or $169/sf

Reception No.: 2016093335

Closing Date: 9/1

Grantor: Lexington Lakewood LP dba Lex Lakewood Parcel LP Lexington Realty Trust Inc., Joseph Bonventre, VP, 212-692-7200, or www.lxp.com

Grantee: Addenbrooke Classical Academy Building Corp., Charles Wright, executive director, 303-989-1336, Lakewood 80235

Comments: See APN: 59-024-01-005, 59-024-01-010 Lot 1, 2 Block 1, Trers Express Filing No. 1, see F1334357. Buyer moved into this space in early March 2015. Property sold in April 2005 for $11.6M. The building sits on 7.88 acres and has excess land of 3.29 acres. The grantee, tenant, had a lease that would have expired at the end of July 31, 2030, but it purchased the building from the landlord. Tenant had a purchase option for a stated price of $11.5M, which it exercised. The seller is a NASDAQ.com company

 

Property Location: 1320 Ammons St., Lakewood

Property Description: 14-unit, two-story apartment, 12,504 sf, YOC 1961, brick

Land Size: 20,687 sf

Sales Price: $1.68M, or $119,643/door, or $134/sf

Reception No.: 2016090336

Closing Date: 9/1

Grantor: Freyre Properties LLC, Alvaro Julio Freyre, member

Grantee: 1320 Ammons LLC, Ethan L. Coleman, manager

Financing: $1.41M, payable to AMG National Trust Bank

Comments: See APN: 02342-28-042. This property was listed by Joe Hornstein & Scott Fetter of Pinnacle Real Estate Advisors & Rob Lawson of the same company represented the buyer, 303-962-9537. The building has been updated with new real oak hardwood floor, new kitchens, new roof, new paving and upgraded electrical. The property is adjacent to the West light-rail line and three blocks from the Wadsworth Station.

 

Property Location: 9164 Marshall Pl., Westminster

Property Description: 10,010-sf industrial building, 16’ clear, with 24 parking spaces, YOC 91

Land Size: 33,741 sf

Sales Price: $1.3M, or $130/sf

Reception No.: 2016091084

Closing Date: 9/8

Grantor: Highland Properties 1716 LLC, Kelly James Lacert, manager, intermediary for Lake Arbor Associates Ltd.

Grantee: MG&MM LLC, Michael Gudenkauf, manager & president of Rocky Mountain Microfiche, 9164 Marshall Pl., Westminster 80031, 303-427-0625

Comments: See APN: 29-243-01-015. The buyer has a company named Rocky Mountain Microfilm and recently sold 1540 El Paso in a 1031 exchange. 1540 El Paso sold for $660,000. There is 16,400 sf of storage yard, of which 13,000 sf, plus or minus, is paved. The property was listed by Chris Ball, SIOR, CCIM, 303-312-4280, & Tyler Smith, CCIM, SIOR, 303-312-4296. The buyer has already moved into the building. See www.rmm-i.com.

 

Property Location: S/S Highway 74, N/S Black Eagle Drive, 31101 Black Eagle Drive, SWC Red Lodge Drive & Black Eagle Drive, Evergreen

Property Description: Vacant, buyer plans to build 32-unit apartment complex

Land Size: 67,910 sf

Sales Price: $550,000, or $8/sf

Reception No.: 2016090599

Closing Date: 9/8

Grantor: CCS-Hiwan I LLC, Marcel Arsenault, manager, 303-466-2500

Grantee: Ladd Land Investments LLC, Roger R. Ladd, manager, c/o Brittany Builders Inc., 303-419-1263, 32186 Castle Court, Suite 240, Evergreen, 80439

Comments: See APN: 41-201-01-267, 41-201-01-183, pt. Lot 2, The Ridge at Hiwan 12th Filing

In this article