Durango Town Center sells for $13.35M

Durango Town Center sold in the second-largest shopping center transaction in Colorado in 2020. A private local investor paid $13.35 million for the 41,781-square-foot center – the second-highest-priced transaction to close to date in the state, per CoStar. The retail center is located at 1125, 1145 and 1185 S. Camino Del Rio and is shadow […]

Jennifer Hayes

August 3, 2020

Denver’s decade-long rent growth ends in second quarter

For the first time in more than a decade, the Denver apartment market saw declining year-over-year rent growth, according to the Apartment Association of Metro Denver’s quarterly Denver Metro Area Apartment Vacancy and Rent Survey. The second-quarter survey, conducted by the University of Denver’s Daniels College of Business and Colorado Economic Management Associates, noted that compared to second-quarter 2019, average rent decreased to $1,506 per month, a $30 monthly decrease and a $360 annual decrease. This represents an inflation-adjusted 2.1% decrease in rents. The last time rents were lower than the period 12 months earlier was in the first quarter of 2010.

Jennifer Hayes

August 3, 2020

Activity, leasing ramping up at Majestic Commercenter

Shamrock Foods has begun construction on its 1.3-million square-foot complex at Majestic Commercenter – part of more than 2 million sf of industrial warehouse and distribution activity at the nearly 1,600-acre master-planned business park at Interstate 70 and Tower Road, continuing east to E-470 in Aurora. Shamrock Foods’ new 116-acre facility will include its regional […]

Jennifer Hayes

July 27, 2020

Fountain self-storage facility sells to national REIT

A 563-unit self-storage facility in Fountain recently sold to a national self-storage real estate investment trust. The REIT paid an undisclosed amount for the Valley Mini Storage, renamed SecurCare Self Storage, at 639 Carson Blvd. The 72,250-square-foot storage facility was built in 1997. Adam Schlosser and Charles “Chico” LeClaire of The LeClaire Group of Marcus […]

Jennifer Hayes

July 26, 2020

California-based MIG Real Estate to develop The Clarkson

A national investment real estate company launched its $100 million equity investment fund with its purchase of an Englewood site where its planning The Clarkson, a market-rate multifamily development. Newport Beach, California based MIG Real Estate LLC paid $3.4 million to a private seller for the 1.04-acre site at South Clarkson Street and East Jefferson […]

Jennifer Hayes

July 20, 2020

Culver’s to open Montrose location at River Landing project

Culver’s is coming to Montrose. WTD Enterprises LLC recently paid $950,000 for a 1.54-acre site at 3841 Wolverine Drive, at the southwest corner of South Townsend and Rio Grande avenues. The restaurant chain, whose menu includes burgers and frozen custard, will be the first Culver’s in southwest Colorado. Currently, the nearest Culver’s is in Glenwood […]

Jennifer Hayes

July 20, 2020

Greystar pays $119M for Thornton apts.

Greystar added another apartment asset to its portfolio with its purchase of Champions Park Apartments in Thornton. Greystar paid a reported $119 million, or $247,917 per unit, for the 480-unit community, renamed Avana Thornton Station. Eaton Vance’s real estate investment group, according to public records, sold the property, which it purchased in 2012 for $68.26 […]

Jennifer Hayes

July 13, 2020

Denver metro apt. vacancy rates show effect of pandemic

Vacancy increased by 21 basis points during the second quarter to 6.42% in contrast to the historic vacancy decreases typically seen in the months leading up to summer – a clear demonstration that the pandemic has had an effect on the metro Denver rental market, according to Apartment Insights’ Statistics Trends Summary. The report on […]

Jennifer Hayes

July 12, 2020

Owner-user invests in Commerce City industrial building

A Commerce City industrial building recently traded hands for $2.69 million. Owner-user LMS Real Estate LLC purchased the 14,500-square-foot building at 9752 E. Hanover Court from Hanover Court LLC. The buyer liked the building, which accommodated its need for oversized drive-in loading and a large yard for its equipment, noted Russell Gruber of Gruber Commercial […]

Jennifer Hayes

July 5, 2020

Colo. apt. vacancy rate remains virtually the same as first quarter

The Colorado Apartment Association reported that the current vacancy rate for Colorado rental properties is 6% – virtually the same as the first quarter Denver Metro Area Apartment Vacancy and Rent Survey’s 5.9% published March 11 despite COVID-19. “It is encouraging to see that Colorado’s rental housing industry remains strong and demand for units is […]

Jennifer Hayes

July 5, 2020

Jennifer Hayes has been an editor with the CREJ since 2000. Jennifer covers multifamily and industrial news in the Denver metro area plus all property types in Colorado Springs, Southern Colorado, mountain towns and the Western Slope. She also handles High Fives news for the paper and is editor of the Health Care & Senior Housing Quarterly. Before joining the Colorado Real Estate Journal, Jennifer served as the assistant sports information director at Texas A&M-Commerce. She earned her bachelor's degree in broadcast journalism from the University of Colorado and a master's degree in education from A&M-Commerce. Jennifer enjoys spending time with her husband and son, learning the ways of being a hockey mom, sports, reading and baking.