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 […]

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.

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]