The Winslow Report, authored by John V. Winslow, CRE, 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: 8901 Colorado Blvd., Thornton, “Newport Village”
Property Description: 220-unit, three-story apartment complex w/165,714 sf, YOC 1988, frame construction, with 372 open spaces
Land Size: 6.59 acres
Sales Price: $34.5M, or $156,818 per unit, or $208.19 per sf
Reception No.: 2016000045786
Closing Date: 6/10
Grantor: Seagate Newport Associates
Grantee: Mitchell Newport LLC, et al.
Comments: There are 32 one-bed/one-baths @ 633 sf; eight renovated one-bed/one-baths @ 633 sf; 15 one-bed/1.5 –bath townhome-style units @ 633 sf; seven one-bed/1.5-bath THs, renovated, @ 633 sf; 54 two-bed/one-baths @ 727 sf, six two-bed/one-baths, renovated, @ 727 sf; 17 one-bed/one-baths + loft @ 804 sf, three one-bed/one-baths, renovated, @ 804 sf; 31 two-bed/1.5-bath THs @ 856 sf; 12 two-bed/1.5-bath THs, renovated, @ 856 sf; 24 two-bed/ two-bath THs @ 856 sf; 11 two-bed/two-bath THs, renovated, @ 856 sf. There are 25 townhouse buildings with two stories each, containing 100 units, & five three-story apartment buildings containing 120 units. The average unit size is 753 sf with an average rental rate of $1.56 per square foot. The listing brokers were Pamela Koster, 720-235-3262, & David Martin, 720-235-3261, both of Moran & Company.
Property Location: 855 W. 122nd Ave. & 995 W. 122nd Ave., Westminster, “Alliance Data Systems Card Services Group”
Property Description: 52,500-sf office building, YOC 2016, & 65,950-sf office building, YOC 2001, brick construction, total of 118,450 sf
Land Size: 13.63 acres
Sales Price: $25M, or $211.06 per sf
Reception No.: 2016000043687
Closing Date: 6/3
Grantor: Westminster LLC, c/o Westminster Capital, Matthew R. Van Wie, VP – asset management & Charles E. King, 847-234-1123, 270 Westminster, Suite 300, Lake Forrest, IL 60045
Grantee: CEGM Westminster LLC c/o Shelby E.L. Pruett, CEO, 312-573-5300
Comments: New leases rolled over early this year with bumps expected in near future. Property sold on an in-place cap rate of 6.25% as new building was not completed at time of marketing but leases calculated on the projected closing period. Property was listed and sold by CBRE Inc., Geoff Baukol, 303-628-1750. The buyer is a Chicago-based company located at 875 N. Michigan, Suite 3430, Chicago, IL 60611 with Dori C. Nolan partner and head of investments of Capri Capital Partners LLC.
Property Location: SEC Boston Street & East 92nd Avenue, Henderson
Property Description: Vacant industrial land
Land Size: 4.04 acres
Sales Price: $2.9M, or $4.74 per sf
Reception No.: 2016000047647
Closing Date: 6/9
Grantor: Boston 9180 LLC, Michael Anthony Aragon, manager
Grantee: Hastings Family Holding, Thomas M. Hastings, manager, 402-332-4482
Comments: APN: 01721-22-005-001, 005, 006 – three parcels.
Property Location: NEC West 64th Avenue & Federal Boulevard, Denver
Property Description: Vacant land, proposed 7-Eleven convenience store
Land Size: 2.4 acres
Sales Price: $2.5M, or $23.92 per sf
Reception No.: 2016000044862
Closing Date: 6/14
Grantor: Rocky’s Auto Inc., David J. Rothrock, president
Grantee: 7-Eleven Inc., Jennifer Bridges, VP
Comments: See file plat 2016000042355, Lots 1 & 2, North Lawn Gardens – Correction Plat No. 1, see APN: 01825-05-4-08-032. Lot 1 contains 68,200 sf & Lot 2 contains 36,324 sf. This store is being marketed by 7-Eleven FranchisEASE, No. 37731, located at 6400 Federal Blvd. For more information, contact franchise sales representative @ 800-782-0711.
Property Location: 2801 W. 70th Ave., Denver, “North Gate Apartments”
Property Description: 23-unit, three-story apartment, 20,496 sf, YOC 1962, brick construction; 12 two-bedroom units @ 850 sf; six one-bedroom units @ 725 sf & five studio-units @ 600 sf
Land Size: 47,552 sf
Sales Price: $2.35M, or $102,174 per door, or $114.66 per sf
Reception No.: 2016000044862
Closing Date: 6/8
Grantor: Regis University, Salvador D. Aceves, SVP
Grantee: Flats at Midtown & Uvector North Gate LLC, 3595 S. Teller St., Suite 301, Lakewood, 80235, Benjamin O. Agin, manager
Financing: $1.98M, due 6-7-21 payable to TCF, NA
Comments: See APN: 1825-05-1-00-025.
Property Location: 7130 Lowell Blvd., Denver
Property Description: 18-unit, two-story walkup style apartment, 9,936 sf, YOC 1960, brick & frame construction; 12 two-bedroom units @ 850 sf; six one-bedroom units @ 725 sf & five studio units @ 600 sf.
Land Size: 19,602 sf
Sales Price: $1.66M, or $91,944 per door, or $114.66 per sf
Reception No.: 2016000044862
Closing Date: 6/8
Grantor: 71st & Lowell Apartments LLC, Ryan Lawless & Jason Koch, managers
Grantee: Pyne Investments LLC, Rawleigh W. Pyne, manager, 212-269-4888
Financing: $1.25M, due 7-1-21 payable to Sabal Capital II LLC
Comments: Property is near new light-rail station and has been renovated. Property is managed by Acute Property Management, 720-949-3207. The one-bedroom unit rents for $850 per month, while the two-bedroom unit rents for $1,100 per month. The property was listed by Jason Koch, 303-512-1153, of Unique Properties LLC-TCN Worldwide. Ryan Lawless is a principal with Urban Public Inc. and can be reached at 303-292-0095. The grantor purchased the property April 15, 2015, for $995,000.
Arapahoe County
Property Location: 9110 E. Nichols Ave., Centennial, “Highland II”
Property Description: 143,958-sf, three-story office building, YOC 1984, glass aggregate siding panels
Land Size: 5.47 acres
Sales Price: $17.2M, or $119.48 per sf
Reception No.: D6059598
Closing Date: 6/8
Grantor: HUB Properties Trust c/o Equity Commonwealth, Chicago, IL, David S. Weinberg, EVP & COO, 312-646-2800
Grantee: Highland II CO LLC, c/o Sawgrass Cove Apartments LLC, Atlas Real Estate Partners, Joe Stampone, VP – Investments, 646-863-0909
Financing: $10M, due 6-7-23 payable to Guaranty Bank & Trust Company
Comments: See APN: 2075-34-3-12-001. Property manager for the seller was Mike Gagne, 303-292-4500. Atlas Real Estate Partners facilitated a 1031 exchange with the sale of a 336-unit garden-style apartment community in Bradenton, FL, for $39.3M to Inland Real Estate Corp. Anchor tenants for “Highland II” include National CineMedia, Cardel Homes, and Cattlemen’s Beef Board. There are approximately 464 parking spaces.
Property Location: Adjacent NEC Gun Club Road & East Sixth Avenue, Aurora
Property Description: Vacant land
Land Size: 100 acres
Sales Price: $11.76M, or $2.70 per sf
Reception No.: D6062405
Closing Date: 6/14
Grantor: Aurora Crossroads Investors Seven LLC, Tom Bobowski, VP of Professors Capital Inc., 858-755-0247
Grantee: JPMorgan Chase Bank, NA, 214-360-4300, Dallas, 75225
Comments: Part of 239.4-acre site owned by the grantor. The seller was represented by Eric & Marty Roth & Jim Bolt of CBRE Inc., 720-528-6322, who have the additional 139.4 acres available for sale. The buyer was represented by Frank Kelley of CBRE. JP Morgan Chase has been shopping for land in the Dallas Metroplex since early this year with rumors of a letter of intent to develop a new regional campus in West Plano, according to an article dated 1-7-16 by Candace Carlisle, 214-706-7121 of the Dallas Business Journal and Steve Brown of the Dallas Morning News, dated 2-2-16. CBRE’s Jeff Ellerman, Scott Hobbs and John Ellerman have been assisting JPMorgan Chase to acquire a 50-75 acre site in the West Plano area. Plans for the Aurora property were not revealed by the brokers involved in the deal, but the media calls the West Plano development a $2 billion dollar development in Legacy West, Plano. Proposed 6,000 jobs will be relocated to the new Plano project.
Property Location: SEC East Mineral Avenue & South Chester Street, Centennial
Property Description: Vacant land
Land Size: 207,025 sf
Sales Price: $6M, or $28.98 per sf
Reception No.: D6064647
Closing Date: 6/17
Grantor: Jones Business Park LLC, Glenn Jones & Timothy J. Burke, manager
Grantee: Jones I MNMA LLC c/o Opus Development Co., 10350 Bren Road West, Minnetonka, MN 55343, Peter Coakley, manager, 303-515-8800
Comments: Opus Development Co. LLC purchased the first portion, approximately 4.75 acres, of the 42 acres owned by Glenn Jones for development of 11 buildings totaling 1.86M sf of mixed-use, Class A development.
Property Location: 10110 E. Dry Creek Road, Englewood, “Eddie Merlot’s”
Property Description: 10,749-sf restaurant, YOC 2015, masonry
Land Size: 1.26 acres
Sales Price: $5.7M, or $530.26 per sf
Reception No.: D6059598
Closing Date: 6/17
Grantor: BDFIF IV Eddie Merlot’s Englewood LLC by: Baceline Investments LLC, David C. Puchi, manager, 303-615-9544
Grantee: 11411 Limited LLLP, Uhrich Family Trust, partner, Castle Rock
Comments: Cash transaction. This property was sold by Riki Hashimoto and Dan Grooters of NGKF Capital Markets, 303-892-1111, based on a 7.65% in-place cap rate, with a 15-year lease. See APN: 2075-34-1-40-003. The developer/seller purchased the land for $1.04M, or $18.95 per sf ,in July 2014. There is a joint use parking agreement for this property; see Reception No. D4064520, dated July 18, 2014.
Property Location: 2295 S. Chambers Rd., Aurora, “Iliff Village Center”
Property Description: 19,910-sf shopping center, YOC 1978, brick/block
Land Size: 1.75 acres
Sales Price: $4.3M, or $215.97 per sf
Reception No.: D6059598
Closing Date: 6/6
Grantor: Howard Bass Iliff LLC, Michele Bodner, manager
Grantee: Sabat Partnership LLC, Davood Manshadi, DDS, 303-476-6233
Comments: See APN: 1975-30-1-02-011. Seller is based out of Aspen. Anchor tenant is 7-Eleven on the end, no gas pumps; other tenants are Lush Nail Spa, Cash 4 Gold, Maytag, El Lucerito Mexican Restaurant, Kid’s Dental. Property was updated in 2005. Buyer has several dental offices in the Denver Metro area. 7-Eleven executed the 10-year lease, which contains two five-year options, Oct. 7, 2010. This property is located on the northwest corner of East Iliff Avenue & South Chambers Road.
Property Location: 7991 Southpark Way, Littleton, “Primrose School”
Property Description: 10,280-sf day care center, YOC 2005, brick
Land Size: 1.99 acres
Sales Price: $3.5M, or $340.47 per sf
Reception No.: D6059598
Closing Date: 6/10
Grantor: Cookson Enterprises Inc., Kent B. Cookson, manager
Grantee: Pars Real Estate1 LLC, Mehran Farzaneh, manager, 7991 Southpark Way, Littleton, 80120
Financing: $3.65M, payable to Meadows Bank, Las Vegas, NV, SBA loan
Comments: See APN: 2077-33-4-03-035. Seller is based out of Centennial, and retired and sold the building and the franchise to the grantee. Buyer is based out of Frisco, TX, and will either run the business or have family or trusted employee facilitate the day-to-day operation of the Primrose School. The website for the school shows Farima and Reza Nemat are the new franchise owners of Primrose School of Littleton. The property is located at the northwest corner of West Campus Drive & Southpark Way.
Property Location: 350 Blackhawk St., Aurora
Property Description: 41,657-sf office building, YOC 1982, masonry
Land Size: 6.13 acres
Sales Price: $4.4M, or $106.40 per sf
Reception No.: D6061293
Closing Date: 6/9
Grantor: 350-BH LLC, Raymond J. Suppa, manager, Honolulu, HI 96816-5410
Grantee: Colorado Springs Early Colleges Building Corp., Keith King, 719-955-4675,
Financing: $34.5M & 9.6M, payable to Public Finance Authority, 15 buildings*
Comments: This property is located on the southeast corner of East Fourth Avenue & Blackhawk Street. *This is a blanket mortgage encumbering multiple properties.
Property Location: 2767 S. Tejon St., Englewood, Arapahoe County
Property Description: 20,455-sf manufacturing warehouse, YOC 1969, metal frame construction with 18’ ceiling clearance
Land Size: 0.96 acres
Sales Price: $2.5M, or $180.78 per sf
Reception No.: 2016076655
Closing Date: 6/9
Grantor: 2767 South Tejon LLC, Alfred John Amato, member; Amato is president of Chateau Shutter Company, 303-761-4084
Grantee: Alan S. Eber, 303-388-5319
Financing: 1031 exchange for proceeds of sale
Comments: This building is an upgraded manufacturing facility with oversized dock-high loading in front with drive-in door on the north side of the building, power boosters, paint room with exhaust system, outdoor storage, new roof, sprinkler systems with upgraded office finish. This building is currently home to Chateau Shutter Company, but it is unknown how long they will stay. Alan S. Eber facilitated a 1031 exchange for 3560 Chestnut Place in Denver County for $2.5M June 9, recorded via warranty deed No. 2016076655. This property was listed by Pete Foster, 303-962-9548, of Pinnacle Real Estate Advisors LLC. The buyer acquired the property 2-28-2001 for $971,500 and has occupied the property under the name 2767 South Tejon LLC, with the manager of this LLC being the same as the principal of the occupant, Chateau Shutter Company.
Property Location: 3325 S. Santa Fe Drive, Englewood, “proposed self-storage”
Property Description: Vacant older frame motel buildings on property plus nine-pad trailer park, surrounded by new apartments to the north.
Land Size: 1.51 acres
Sales Price: $850,000, or $12.92 per sf, land value
Reception No.: D6056685
Closing Date: 6/1
Grantor: JEV LLC, John A. Veno
Grantee: Terrapin Englewood CO LLC, Anthony “Tony” Sherman, founder, tony.sherman@terrapininvestments.com, 970-710-7932
Comments: APN: 1971-33-4-00-012, 013. Property was listed and sold by Tristan Sedbrook, 720-421-4971, of Fuller Real Estate. Rachel Bogel, 303-918-6334 or 303-333-4673, of Twin Peaks Real Estate represented the buyer. Property is located near the northwest corner of West Hampden Avenue & South Santa Fe Drive and will be redeveloped into quality self-storage units that will cater to the newer apartments developed in the area. Plans have been submitted for review to the Englewood Planning Department.
Property Location: 2686 W. Alamo Ave., Littleton
Property Description: 3,113-sf retail building conversion, YOC 1931, masonry, & 816-sf converted retail building, YOC 1916, frame, total 3,929 sf
Land Size: 18,731 sf
Sales Price: $791,730, or $201.51 per sf
Reception No.: D6062066
Closing Date: 6/13
Grantor: Littleton Group LLC, Stephen F. Elken & Michael Opatowski, managers, c/o Elkco Properties, 303-778-0380
Grantee: 2686 W Alamo LLC, Francois Safieddine, member, 720-282-1548
Financing: $697,500 @ 4.5%, due 6-10-18, payable to FirstBank
Comments: Seller is developer in Denver and buyer is president of Viewhouse and developer of restaurants in the Denver metro area. Property is located on the southeast corner of West Alamo Avenue & South Rapp Street.
Property Location: 1830-1840 W. Littleton Blvd., Littleton
Property Description: 2,959 sf on two floors, office/residential, with two office units, two apartment units, YOC 1952, brick, & eight parking spaces
Land Size: 6,490
Sales Price: $750,000, or $253.46 per sf
Reception No.: D6056177
Closing Date: 5/31
Grantor: David & Helen Day
Grantee: Ontario Gardens LLC, Kevin & Regina Valis, manager
Financing: $375,000, due 6-1-46, payable to Bank of Denver
Comments: APN: 2077-16-3-13-006. Property was listed and sold by Eric Shaw, 303-962-9551, of Pinnacle Real Estate Advisors LLC. The office space contains 1,126 sf and the residential contains 1,833 sf. If self-managed, the property sold on a 5.03% in-place cap rate, no management or reserves calculated.
Boulder County
Property Location: 5397 S. Boulder Road, Boulder, “Days Hotel”
Property Description: 74-room, 3-story hotel w/ 36,250 sf, YOC 1974
Land Size: 43,216 sf
Sales Price: $6.05M, or $166.90 per sf, or $81,757 per room
Closing Date: 6/15
Grantor: Zurek Real Estate LLC, Stefan & Darek Zurek, managers
Grantee: Boulder Lodging Associates LLC, Jeffrey G. Lamont, manager, 205 Sixth Ave. SE, Suite 300, Aberdeen, SD, c/o Lamont Companies, 605-225-1712
Financing: $8.1M, due 6-15-26, payable to Home State Bank
Comments: The buyer owns several hotels, including Holiday Inn Express & Homewood Suites in Davenport, IA; Fairfield Inn & Suites in Hendersonville, TN; Candlewood Inn & Suites in Longmont. Lamont executed a construction loan to update and renovate this property.
Property Location: N/S Chrisman Drive, approx. 400’ west of N. 107th Ave.,
550 Chrisman Drive, Longmont, “Proposed Chrisman Apartments”
Property Description: Vacant land, plan to build 114-unit, 3-story apartment
Land Size: 3.85 acres
Sales Price: $2.5M, or $14.91 per sf, or $21,930 per buildable unit
Reception No.: 03526167
Closing Date: 6/21
Grantor: The Terrace Apartments LLC, Joseph B. Bowers, manager, Boulder 80303
Grantee: Crisman Apartments LLC, dba Solvera, Lisa Mullins, manager, 303-554-0500
Financing: $3.7M, due 7-1-51, payable to the State of Colorado Division of Housing
Comments: See APN: 1205-272-16-001. The project is expected to be completed by June 2017. Once the property is constructed and occupied, the project will be turn-keyed to the Longmont Housing Authority for permanent ownership and management. The buyer applied and received approval for Private Activity Bond Cap, 4% Low Income Housing Tax Credits. A family of four that earns no more than $59,640 per year is eligible to occupy an apartment unit.
Property Location: 505 Stacy Court, Lafayette, 80026
Property Description: 11,000-sf office/warehouse, YOC 1996, masonry
Land Size: 1.33 acres
Sales Price: $1.4M, or $127.27 per sf
Reception No.: 03525947
Closing Date: 6/22
Grantor: 505 Stacy LLC, William G. Arnold III, manager
Grantee: Akesca RE LLC, 6655 Arapahoe Road, Unit A, Boulder, 80303
Financing: $3.7M, due 7-1-51, payable to the State of Colorado Division of Housing
Comments: See APN: 1575-101-35-001. Tenants include Timberline Adventures LLC, Odd13 Brewing Inc. & Boulder Blimp Company Inc. The building is 100% occupied with an in-place cap rate of 6.4%. Wade Arnold of the Colorado Group sold the property. Odd13 Brewing co-owner Ryan Scott leased 3,800 sf in this building in August 2015. The quoted lease rate in this building was $8.50 per sf triple net with expenses of $3.94 per sf.
Property Location: 304 Center Drive, Superior
Property Description: 3,518-sf vacant restaurant, formerly Wendy’s, YOC 2002,
Land Size: 1.16 acres
Sales Price: $788,413, or $244.11 per sf
Reception No.: 03524920
Closing Date: 6/16
Grantor: GE Capital Franchise Finance Corp., Tyler Sorenson, 972-830-6742
Grantee: SCFRC-HW-G LLC, Pete Mavoides, president of Stone Briar Commercial Finance Realty Trust, 469-609-8500
Comments: Property was listed for lease @ $70,000 per year triple net by Jim Lee, 720-528-6321, of CBRE Inc. The real estate taxes are $11.13 per square foot. There are 40 parking spaces. This was part of a 300-property portfolio that GE Capital Franchise Finance Corp. sold to the buyer.
Property Location: 239 Canyon Blvd., Boulder
Property Description: 2,064-sf office building, YOC 1966, frame construction
Land Size: 10,890 sf
Sales Price: $780,000, or $377.91 per sf
Reception No.: 03525947
Closing Date: 6/22
Grantor: Loan Tran & Michael H.B. Stowell
Grantee: BCC Studios LLC, David & Melinda Downey, managers, 303-447-7177
Financing: $624,000, payable to JPMorgan Chase Bank
Comments: Wade Arnold & Scot Smith of the Colorado Group, 303-449-2131, sold the property. The listing price was $800,000. Buyer’s company, Boulder County Communications, will occupy the space.
Property Location: 337 E. Simpson St., Lafayette
Property Description: 2,328-sf, two-story office/retail building, YOC 2015, brick
Land Size: 1,189 sf
Sales Price: $590,000, or $253.44 per sf
Reception No.: 03525545
Closing Date: 6/17
Grantor: Manhattan Project LLC, by Hansen Design & Development, Gregory J. Hansen, 720-201-3142, & East Simpson LLC, David Wein, manager, 303-443-5575
Grantee: Simpson Investments LLC, John Meyer, manager, Louisville, 80027
Financing: $472,000, payable to Colorado Business Bank
Comments: The property is located on the northwest corner of E. Simpson & N. Iowa Ave. in Lafayette. Listing broker shows 1st floor of 1,160 sf, 2nd floor of 1,194 sf and basement area of 1,194 sf, for a total of 3,548 sf. For this transaction, the Winslow Report did not calculate the basement area for total building size. Geoffrey E. Keys of Keys Commercial, 303-447-2700, was the listing broker.
Property Location: NWC Dogwood St. & Cherry St., Louisville
Property Description: Vacant land
Land Size: 3.62 acres
Sales Price: $554,960, or $3.54 per sf
Reception No.: 03524747
Closing Date: 6/17
Grantor: The Park at CTC LLC by: O’Connor Holding Company LLC, Christopher Rebich, manager, 303-926-4996 or chris@occonnor-group.com
Grantee: Comunale Rentals, 82.1%, John Comunale, president, 720-583-1024, Jeff Thomson, 8.9%, & J.R. Fowler, 9%
Comments: See APN: 1575-160-15-001. The property was listed by Ronan Truesdale & Ashley C. Overton of Keys Commercial Real Estate, 303-447-2700.
Broomfield County
Property Location: Vic. south of Anthem Ranch Rd. & west of Lowell Blvd.; SEC Fishers Peak Dr. & Puma Run, Broomfield
Property Description: Vacant residential lots
Land Size: 974,327 sf
Sales Price: $13.3M, or $125,348 per lot, or $13.64 per sf
Reception No.: 2016006319
Closing Date: 6/2
Grantor: Nash Anthem LLC, Newland Real Estate Group LLC, Walter Nelson, SVP
Grantee: Toll Co II LP by: Toll Co GP, Mark Bailey, div. president
Comments: Lots 254-299; Lots 327-378 & Lots 381-388, Anthem Filing No. 22, Replat B, Broomfield; see 2009003716 & 2016002569. This will be known as Anthem Ranch by Toll Brothers and will be 55-and-older community. There will be a fitness center, billiards room, hot tub, indoor and outdoor pool, library, tennis courts and massage therapy room. There are 106 lots totaling 974,327 sf with an average size of 9,192 sf, with the smaller size at 6,359 sf and the largest lot @ 13,827 sf. There are 28 lots that are 10,093 sf to 13,827 sf, with an average of 11,527 sf per lot ; 30 lots that range from 9,000 sf to 9,995 sf, with an average of 9,506 per lot; 18 lots that range from 8,014 sf to 8,986 sf with an average of 8,617 per lot; 13 lots that range from 7,007 sf to 7,934 sf with an average size of 7,395 sf per lot; and 17 lots between 6,359 and 6,984 sf with an average of 6,774 sf per lot.
Property Location: 6450 W. 120th Ave., Broomfield
Property Description: 7,370-sf retail building, YOC 2003, masonry
Land Size: 36,415 sf
Sales Price: $2M, or $271.37 per sf
Reception No.: 2016006167
Closing Date: 5/31
Grantor: Novation Properties LLC, David O. Larson, manager*
Grantee: Kobold 10 LLC by: Kobold Group LLC, Devon Arnold, manager
Comments: Seller is one of the founding partners of Legend Partners, which is the listing broker in this transaction. Blake Larson is the listing agent on this property, 720-529-2986. There are 40 parking spaces for this property.
Property Location: Northwest corner W. Midway & U.S. Hwy. 287, Broomfield, “proposed Starbucks coffee shop”
Property Description: 1,013-sf service station, land value
Land Size: 36,490 sf
Sales Price: $950,000, or $26.03 per sf
Reception No.: 2016006307
Closing Date: 6/6
Grantor: A-B Petroleum Inc., Brian Haldorson, president
Grantee: Confluent Development LLC, Marshall Burton, 303-704-8148, & Celeste Tanner, 303-803-4697, principals
Comments: Buyer demolished Conoco station to build a 2,200-sf drive-up Starbucks restaurant and coffee shop. See Resolution PZ-2016-14, Planning and Zoning Commission agenda memorandum. The parking and drives will contain 16,396 sf of paved area with 17,894 sf open space, includes patio and walks. There are 31 parking spaces, including two handicapped stalls. John Reinsma is VP of Real Estate, 303-339-5181.
Denver County
Property Location: 1000 Speer Blvd., Denver, “Joule Building”
Property Description: 224-unit, 16-story apartment building, w/239,232 sf, YOC 2015, plus six-story, 270 space parking garage
Land Size: 36,348 sf
Sales Price: $120M, or $535,714 per unit, or $501.61 per sf
Reception No.: 2016079246
Closing Date: 6/16
Grantor: 1000 Speer LLC c/o The Lynd Company, Sam Kasparek,
Grantee: Windsor at Speer 1 LLC c/o GID Investment Advisers LLC, 125 High St., 27th floor, Boston, MA 02110, Thad D. Palmer, EVP of real estate acquisitions, 617-854-6634, & Matthew P. Stuart, SVP – director of Western Region Acquisitions, 415-495-3000
Financing: $73M, payable to Prudential Multifamily Mortgage LLC
Comments: The average size unit is 1,068 sf, with the smallest consisting of a studio apartment at 485 sf. The first floor contains a fitness club, conference room, video conferencing area and a resident lounge. The sixth floor contains a 7,000-sf outdoor deck with a swimming pool. See APN: 05037-04-144
Property Location: West corner 17th St., extended, & Chestnut St., Denver
Property Description: Vacant land, plan to build 19-story, 420,000-sf high-rise office building that should be finished by August 2018
Land Size: 40,084 sf, zoned PUD
Sales Price: $18M, or $449.06 per sf
Reception No.: 2016076729
Closing Date: 6/10
Grantor: 16 Chestnut Development LLC, East West Partners Inc., Jay Lambiotte, manager, 303-623-1500
Grantee: Chestnut Denver Inc. c/o Invesco Real Estate, 972-715-7400
Comments: See APN: 02332-26-008. DaVita, a health care organization, will be the anchor tenant with 265,000 sf. The cost of the development is estimated at $190 million.
Property Location: 4825 Nome St., Denver
Property Description: 50,544-sf industrial building, YOC 1973, concrete tilt-up, with rail, & 7,140-sf separate parcel of vacant land
Land Size: 2.29 acres
Sales Price: $3.4M, or $66.77 per sf
Reception No.: 2016074563
Closing Date: 6/6
Grantor: The Realty Associates Fund X LP by: TA Realty LLC, James P. Raisades, SVP, www.tarealty.com , 617-476-2700
Grantee: 4825 Nome Street LLC, S.J. Jernigan Jr., member, 303-307-4500
Financing: $1.69M, payable to U.S. Bank, NA; $1.31M, payable to U.S. Bank; $1.34M, payable to Denver Urban, total $4.33M, in three loans
Comments: See APN: 01144-10-009 & 01144-10-018. Seller is principal of Western Innovations Inc., the tenant in the building. The tenant purchased the building from the landlord, TA Realty LLC. Seller’s acquisition contact is Rita Martineau, 617-476-2722, and its dispositions contact is Tracey Rice, 617-476-2745. This building was part of a portfolio that sold in January 2014 for $36.9M and included 18 buildings totaling 906,845 sf @ $40.69 per sf. The seller/landlord was Boston-based TA Realty Associates. The tenant of this building was desirous of acquiring the building for its long-term use. * Third deed of trust was an SBA loan in participation with the Denver Urban Economic Development Corp.
Property Location: 3560 Chestnut Pl., Denver
Property Description: 13,828-sf industrial building, YOC 1951, brick
Land Size: 31,250 sf
Sales Price: $2.5M, or $180.78 per sf
Reception No.: 2016076655
Closing Date: 6/9
Grantor: Alan S. Eber, 303-388-5319
Grantee: Ironton LLC, Bobby & Eileen Lorimer, managers
Financing: $2M, payable to Kirkpatrick Bank*
Comments: Lots 1-10, Block 16, first addition to Ironton. This is a 1031 exchange handled by National Safe Harbor Exchanges, Paulo Sanchez, VP. Property is located at the south corner of 36th St. & Chestnut Pl. and if the highest and best use for this property is land value, the price reflects $80 per square foot. * The
note and deed of trust are a blanket trust deed and secured by 3555 Marion St., with the borrower known as Delganey Shop LLC, Bobby & Eileen Lorimer, managers. Alan S. Eber facilitated a 1031 exchange for 2767 S. Tejon St. for $2.5M June 9, recorded via warranty deed D6061262.
Property Location: 2440-2450 Ogden St. & 3501-3543 N. High St., Denver
Property Description: 1) six-unit, two-story apartment building, 4,328 sf, YOC 1956, brick const.
2) 11-unit, one-story apartment building, 8,060 sf, YOC 1960, brick/frame construction, Total of 17 units, 12,388 sf
Land Size: 1) 6,250 sf 2) 33,700 sf
Sales Price: $2M, or $117,647 per door, or $161.45 per sf
Reception No.: 2016076544
Closing Date: 6/9
Grantor: Denver NE LLC c/o Hudson Grove, Ben Agin, president
Grantee: Westwood Apartments Investors LLC c/o GHC Housing Partners, R.J. Miller & Doris McDowall, VP of acquisitions and development, 818-808-0600
Financing: $1.44M, payable to Pillar Multifamily
Comments: Two properties are in different locations: 1) Lots 4-5 Block 8, Kountze Addition to Denver & 2) Lots 16-26, Block 23, Hyde Park Addition.
Monique Lawshe, 818-808-0600, Ext. 350, is also SVP of acquisitions. The website for the buyer is www.ghchousing.com. This property sold to the seller on 5-27-2015 for $1.45M. The seller realized a gain, before selling and closing cost of 37.93%, or 2.72% per month.
Property Location: 5071 S. Syracuse St., Denver, “Marriott hotel planned”
Property Description: Vacant land, proposed four-story, 94-unit Marriot Courtyard hotel
Land Size: 56,280 sf
Sales Price: $1.55M, or $27.54 per sf
Reception No.: 2016076743
Closing Date: 6/10
Grantor: The Alice Springs Land and Cattle Company LLC, David L. Liniger, member
Grantee: DIA DTC LLC c/o Baywood Hotels Inc., Keyur Naik, 720-708-5251
Comments: See APN: 07093-00-005, 033. The broker in the transaction was Brad Pech, SIOR,of Re/Max Commercial, 303-504-3444 or 303-748-7919. “The deal was under contract for nearly 18 months in order to secure a variance for an access easement. Due to the nature of the site, we had to downsize the number of units to meet the requirements of the site restrictions,” said Brad Pech. The property is an interior site and considerable planning was necessary to meet the requirements of the Denver Tech Center. Baywood, based in San Antonio, works with a number of hotel managers/users to provided their local expertise in the development and management of this new Marriott. There is a large 628-unit Marriott located within two blocks of this property, at 4900 S. Syracuse St., but the type of product proposed for the new 94-unit hotel is significantly different and will cater to different clientele who are loyal to the Marriott chain but don’t need the “bells and whistles” that the Denver Marriott Tech Center offers.
Property Location: Vic. NWC Wewatta St. & 20th St., 1905 Division St., Denver
Property Description: Residential improvements, YOC 1886, land value
Land Size: 3,318 sf
Sales Price: $1.34M, or $85.72 per sf
Reception No.: 2016079417
Closing Date: 6/15
Grantor: Mark Luedke & Trisha McCarty-Luedke
Grantee: 1905 Division LLC, 141 E. Meadow Dr., Suite 211, Vail, 81657
Comments: The property was listed by Gail L. Mead, CCIM, gail@ccrepros.com, & Michael Honc, CCIM, mike@ccrepros.com, both of Colorado Commercial CCRE Pros, 303-838-1111, along with Marcia Mueller of Westbrook Realty, 303-455-0711.
Property Location: 5470 E. Evans Ave., Denver
Property Description: 5,900-sf retail building, YOC 1969, brick
Land Size: 19,735 sf
Sales Price: $775,000, or $131.36 per sf
Reception No.: 2016076732
Closing Date: 6/10
Grantor: Bergin Holdings Inc., Michael J. Bergin, president, Aurora 80015-1180
Grantee: 5470 East Evans LLC, c/o Evans East Animal Hospital,
Dean Vicksman, DVM, 303-757-7881, drvicksman@evanseastvet.com
Comments: See APN: 06301-21-057. The tenant is Jerusalem Market and the property is located within one block of the buyer’s place of business.
Property Location: 2727 W. Alameda Ave., Denver, “Subway”
Property Description: 1,783-sf fast food restaurant building, YOC 1981
Land Size: 18,125 sf
Sales Price: $760,000, or $131.36 per sf
Reception No.: 2016076658
Closing Date: 6/10
Grantor: Newcorp Group LLLP, Gary Newcomb, manager
Grantee: Ammerman Business Property LLC, Ron Ammerman & Sherri Lynn Hartman, managers, 303-287-3333
Comments: The property was listed by Marc Lippitt, Scott Shwayder & Justin Herman of Unique Properties LLC, 303-321-5888. The property was listed for $660,000, which included a proposed 10-year lease, reflecting a 5.5% in-place cap rate. It is unknown if the additional $100,000 paid over the listed price was for the business also. Property sold in March 2016 for $465,000.
Property Location: 5106 Washington St., Denver
Property Description: 7,808-sf commercial building, YOC 1939 plus two homes containing 1,000 sf +/-, masonry & frame, 8,808 sf total
Land Size: 19,250 sf
Sales Price: $755,000, or $85.72 per sf
Reception No.: 2016079566
Closing Date: 6/17
Grantor: Mercado Rizo Inc., Jaime A. Rizo, president, 303-433-6403
Grantee: Larimer Garage & Salvage II LLC, c/o Atek Co Inc., Mark Osmanski, CEO, 10025 Valley View Dr., Suite 190, Eden Prairie, MN 55344, 763-553-7700
Comments: The property was listed by Jorge Saenz-Rico, 720-404-7469, for $785,000. Property is on the northeast corner of E. 51st Ave. & Washington St. and is zoned I-A. The grantor’s company, Westerkamp’s Steakhouse and Meat Market, formerly occupied the building.
Property Location: 2900 W. 26th Ave., Denver, “Araujo’s Restaurant”
Property Description: 1,787-sf restaurant building, YOC 1901, masonry
Land Size: 3,536 sf
Sales Price: $600,000, or $335.76 per sf
Reception No.: 2016076658
Closing Date: 6/9
Grantor: Rito Luna
Grantee: GBV Araujo LLC, Eva Adriana Araujo Hernandez, manager
Comments: The property was listed by Tim Finholm, Sam Leger & Michael Desantis of Unique Properties LLC, 303-321-5888. The property was listed for $650,000. The tenant purchased the property from the landlord.
Douglas County
Property Location: E/S Piney Lake Road, approximately ½ mile north of Inspiration Dr., Douglas County
Property Description: Vacant agricultural land for potential development
Land Size: 310 acres
Sales Price: $4.13M, or $13,306 per acre
Reception No.: 2016035931
Closing Date: 6/7
Grantor: Dougprop LLC, Sydney S. Macy & Patrick B. Shafroth, managers
Grantee: H20 Sub Piney Lake LLC c/o Walton International Group (USA) Inc., John Plastiras, EVP, & Doug Donald, SVP – real rstate acquisitions, 780-702-6601
Comments: Potential residential development
Property Location: 35 W. Springer Dr., Highlands Ranch, “Los Dos Potrillos”
Property Description: 5,574-sf restaurant building, YOC 1995, stucco
Land Size: 72,266
Sales Price: $2.73M, or $488.88 per sf
Reception No.: 2016034844
Closing Date: 6/1
Grantor: W.S.A Fraternal Life, Randy Foss, CEO
Grantee: Los Dos Potrillos HR LLC, Jose L. Ramirez, president, 720-529-0299
Financing: $1.94M, payable to Compass Bank
Comments: The property was listed by Brian Shorter & Courtney Key of SullivanHayes Brokerage, 303-534-0900. This property last sold in April 2013 for $2.84M. Buyer is expanding to its third location in south metro Denver. It will continue to operate at 8251 S. Holly St., Centennial, & 10065 W. San Juan Way, Littleton.
Jefferson County
Property Location: 1450 Lamar St. & 1430-1440 Kendall St., Lakewood,
“Lamar Station Apartments”
Property Description: 130-unit, two- & three-story apartment complex w/76,993 sf, YOC 1961, brick
Land Size: 4.49 acres
Sales Price: $11.6M, or $89,215 per door, or $150.63 per sf
Reception No.: 2016056160, 2016056161, two deeds combined
Closing Date: 6/10
Grantor: Lamar Kendall Investment Group LLC, by: G.H. Cooper Properties Inc., Sheryl Cooper, president, 310-899-9171
Grantee: CWP Lamar Station Apartments LLC, by: Coldwater Partners LLC, Marc Venegas, manager, 130 30th St., Manhattan Beach, CA 90266
Financing: $10.56M, payable to CBRE Multifamily Capital Inc.
Comments: See APN: 49-012-04-004, 49-012-03-011 & 49-012-03-012, 49-012-03-009, 49-012-03-010. Property was listed and sold by Justin Hunt, 303-260-4475, Andy Hellman, 303-260-4474, & Spencer Bradley, 303-260-4427, of ARA Newmark Inc. There are 18 studio-units @ 300 sf that rent for $807 per month; three studio-units @ 374 sf that rent for $533 per month; 11 one-bedroom units @ 408 sf that rent for $926 mo.; 34 one-bedroom units @ 542 sf that rent for $919/mo. 41 one-bedroom units @ 675 sf that rent for $990/mo.; 15 two-bedroom/two-baths @ 725 sf with rents at $1,189/mo.; six two-bedroom/two-baths @ 837 sf renting for $1,362/mo.; and two three-bedroom/two-bath units @ 2,000 sf, renting for $1,457 per month. The average rent is $977, which reflects $1.65 per square foot average. Lamar Station is one block from the Lamar light-rail station, offering tenants’ access to the CBD and other points in the metro area.
Property Location: 7500 W. Mississippi Ave., Lakewood, “Lashley Building”
Property Description: 49,152-sf, multistory office building, YOC 1976
Land Size: 2.26 acres
Sales Price: $2.1M, or $42.73 per sf
Reception No.: 2016053722
Closing Date: 6/3
Grantor: Jefferson Partnership II LLP, Gary & Patsy Autry, partners, 720-233-8282
Grantee: Covalt & Company MS I LLC, Scott Covalt, manager, 970-213-2400
Financing: $1.26M, payable to 7500 W. Mississippi LLC; $1.27M @ 8.5% payable to the grantor, due 6-3-18
Comments: Lease rates range between $11 & $12 per sf, full-service. There is 15,370 sf available, nine separate suites, listed by former owner GPA Enterprises, 720-233-8282. Buyer’s website is www.globalcarboncorp.com or scovalt@globalcarboncorp.com. The listing brokers were Matt Ritter, Jeff Johnson, Peter Sengelmann & Cody Stambaugh, all of Pinnacle Real Estate Advisors LLC.
Property Location: 2171-2181 Depew St., Edgewater
Property Description: Two four-unit, two-story apartment buildings with 6,068 sf, YOC 1961, brick, all two-bedroom units
Land Size: 6,490
Sales Price: $1.3M, or $162,500 per door, or $214.24 per sf
Reception No.: 2016053413, 2016053416, two deeds combined
Closing Date: 6/3
Grantor: IH Holdings One LLC, Ilan Reissner & Hugo Weinberger, managers
Grantee: 180 Investments Depew LLC, Jodi Robinson, manager
Financing: $1.1M @ 4.6%, payable to FirstBank, due 9-1-25
Comments: Property was listed and sold by Josh Newell, 303-962-9559, of Pinnacle Real Estate Advisors LLC.
Property Location: SEC W. 58th Ave. & Tabor St.; northeast corner W. 56th Ave. & Union St.; northwest corner & southwest corner W. 57th Ave. &Tabor St., 5685 Tabor St., Arvada, “proposed Timberline Farms”
Property Description: Unplatted site & 16 lots platted
Land Size: 26.53 acres zoned A-2, proposed PUD-R, Arvada
Sales Price: $4.12M, or $3.53 per sf
Reception No.: 2016030193, 2016030194, 2016054191
Closing Date: 3/31 & 5/24
Grantor: Timberline Gardens Inc., Arvada Outdoor Storage LLC
& Charles & Jill Richardson*, 303-810-1017
Grantee: CD – Timberline LLC, c/o Confluence Companies, Tony De Simone,
303-643-5775, tony@confluenceco.com
Comments: Three deeds commencing in March 31, APN: 39-084-00-005 for $1.8M containing 9.75 acres, or $4.24 per sf, located at 11600 & 11700 W. 58th Ave.; 39-084-00-004 for $1.4M containing 9.45 acres, or $3.40 per sf. The third deed sold May 24 for $917,700 and contained 5.51 acres, or $3.82 per sf. This sale included 16 lots at northeast corner of W. 56th Ave. & Union St. Tony DeSimone & Tim Walsh are the two principals of Confluence Companies. The buyer purchased the southeast corner of W. 58th Ave. & Tabor St., which consisted of 19.19 acres of land, for $3.2M, or $3.83 per sf. This property contained 44,250 sf of greenhouse space, which the seller has since vacated. *Also managing members for the first two deeds. The buyer purchased the property prior to rezoning and is planning 302 multifamily units on 18.95 acres; four 12-unit, three-bedroom duplex units on 1.81 acres and four single-family estate lots on 5.77 acres. The site will accommodate 663 vehicles, including 275 garage spaces in stand-alone and tuckunder garages attached to the building. The developer will also construct a public parking garage on the adjacent Stenger Soccer Complex that will total 276 parking spaces. The total development cost for the property is estimated at $61 million.
Property Location: 12305 W. Dakota Ave., Lakewood
Property Description: 18,517-sf office/warehouse, YOC 2005, brick
Land Size: 167,115 sf
Sales Price: $3.88M, or $209.50 per sf
Reception No.: 2016056543
Closing Date: 6/10
Grantor: Standridge I, Scott A. Standridge, member
Grantee: Gov Lakewood DOT LLC, Homewood Capital, Robert R. Kaplan Jr., 1819 Main St., Suite 212, Sarasota, FL 941-955-7900, Ext. 216
Financing: $2.44M, payable to CorAmerica Capital LLC, Clive, IA 50325
Comments: Single-tenant investment with lease with U.S. Department of Transportation Federal Highway Administration. The term and lease rate were not disclosed by the purchaser.
Property Location: 12725 W. 54th Ave., Arvada
Property Description: Vacant land
Land Size: 89,932 sf
Sales Price: $570,000, or $6.34 per sf
Reception No.: 2016057557
Closing Date: 6/14
Grantor: RGT@2 LLC, Robert G. Tointon, manager
Grantee: JMJC LLC, c/o Central Development, Jerome Record, manager,
303-628-0200, Ext. 106.
Comments: Property was listed by Pete Jessen of Mile High Development, 303-232-1171. There are three sites in this replat of a 4.69-acre site at the corner of W. 54th Ave. & Xenon St. This site that sold is located at 12725 W. 54th Ave. and fronts on the north side of the W. 54th Ave. terminus. The two other sites totaling 2.62 acres are under contract and are scheduled to close in September or October. Electrical contractor will occupy the building at 12725 W. 54th Ave.
Property Location: 5430 W. 73rd Ave., Westminster, “Proposed Hidden Lake Senior Housing”
Property Description: Vacant land, proposed 72-unit, three-story apartment building, affordable housing for 55 & up, containing 77,425 sf net rentable area with 110 parking space
Land Size: 4.51 acres
Sales Price: $1.73M, or $8.82 per sf, or $24,058 per buildable unit
Reception No.: 2016056085
Closing Date: 6/10
Grantor: Tepper Partners LLC, Jerry Tepper, manager, 720-244-1282
Grantee: Jefferson County Housing Authority, Alan Feinstein, director, 303-422-8600
Comments: There is a park development fee calculated at $1,031 per unit, or a total of $74,232, to be paid prior to certificate of occupancy. In lieu of a public land dedication, the developer is required to pay the fair market value as determined by the current appraisal of $258,315 per acre x 4.51, or a total of $334,776. Said fee is payable prior to final recordation of the final plat for the ODP.
Property Location: NWC W. 72nd Ave. & Sheridan Blvd., Westminster
Property Description: Vacant land, plans for 6,450-sf Denny’s Restaurant
Land Size: 1.54 acres, 0.65 acres usable
Sales Price: $705,000, or $10.51 per sf, $24.90 per usable sf
Reception No.: 2016059180
Closing Date: 6/19
Grantor: Cadence Development LLC, Greg B. Ham, COO
Grantee: Legend Lake 7211 N. Sheridan LLC, Jay R. Ufer, manager
Comments: Lot 8, Shoenberg Farms Commercial. Cadence originally purchased this property on 6-19-16 for $530,000 and resold it to the buyer for $705,000. The net usable land area is estimated to be 28,314 sf as the detention pond located on the northwest corner of W. 72nd Ave. & Sheridan contains nearly 0.85 acres. According to the city of Westminster, this property has been in the works for the last eight years, with Cadence working on getting a restaurant approved.
Property Location: 12700 W. 44th Ave., Wheat Ridge
?Property Description: Vacant land, rezoned to PID.
Land Size: 1.79 acres
Sales Price: $550,500, or $7.08 per sf
Reception No.: 2016058059
Closing Date: 5/9
Grantor: Raleva Properties KNA Mangone Family, Vincent C. Mangone, manager
Grantee: Stor-All Youngfield Street LLC, Larry Anderson, CPM, managing partner, 954-421-7888, 1375 W. Hillsboro Blvd., Deerfield, FL 33442
Comments: Buyer has applied for approval to build a four-story, indoor self-storage facility containing approximately 109,200 sf. Approval has not been granted at time of closing. The listing was handled by Esther Kettering, and the buyer was represented by Terry Matthews, both of Cushman & Wakefield, 303-292-3700. There are two assessor parcels: 39-202-00-011 & 39-202-00-027, both in the city of Wheat Ridge. The plans are currently being heard by the city. There is approximately 406’ of frontage along Youngfield Street, with an access strip running westerly from Xenon St.
