Thomas W. Toomey, the longtime CEO of UDR, one of the nation’s largest apartment REITs, early this year confessed, “We missed it,” as far as staking out a big claim in the company’s Denver backyard. Toomey, CEO of Highlands Ranch-based UDR, with a market cap of about $10.5 billion, said he had been telling his…

There’s a healthy appetite for new office space in the Denver area, with most of the product currently under construction already preleased. Doug Wulf “Tenants today are seeking out new space more than they ever have,” Cushman & Wakefield Executive Vice President Doug Wulf said at a recent Office Summit & Expo in Aurora. In…

Woodspear Properties decided it was time to sell The Orchards shopping center in Greenwood Village. And Woodspear ended up selling the prized 73,904-square-foot center in a novel way. But more details of that later. The Orchards, at 5926 S. Holly St., at the key intersection of Orchard Road and Holly Street, is the type of…

[vc_column width="2/3"]Front Range commercial real estate stretches from Northern Colorado to Colorado Springs. And while the geographic markets, like asset types, are at different stages on the scale, no area is hitting a truly sour note. “Our entire Front Range market is in a really good place right now,” said Mike Kboudi, a managing director…

A multifamily property owner turned out to be the “logical” buyer for an industrial property in Aurora that sold off-market. In its first industrial acquisition, Nueva Americana III LLC bought Wheeling Service Center for $9.5 million. Located off Interstates 70 and 225, the property consists of seven multitenant industrial buildings totaling 121,400 square feet that…

Atlanta-based Peachtree Hotel Group has acquired the Element Denver Park Meadows Hotel, a 123-room hotel at 9985 Park Meadows Drive in Lone Tree. Douglas County records show the hotel sold for $19.8 million. The seller was Denver II Hospitality LLC, a Texas based group that bought the property for $15.5 million two years ago. Peachtree…

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Jeff Hawks would be disappointed if he listed a Denver area apartment community and didn't receive at least 10 offers. Hawks is seldom disappointed these days. “To a lot of people’s surprise, the apartment market is holding up fairly well. Everyone believed that we were overbuilding” and Denver’s red-hot apartment market was cooling, said Hawks,…

The Safeway adjacent to the Cherry Creek Shopping Center will close its doors permanently in the coming weeks, months before its Jan. 4 deadline, the Colorado Real Estate Journal has learned. “We are planning to close the store at the end of the month,” said Kris Staaf, director of public affairs for Safeway. CREJ had…

I first started talking to New York City-based developer Mike Ursini last March about his plans to build the tallest building in Colorado. Our agreement was that by sitting on his blockbuster $400 million development at 650 17th St., he would give the story to me first. https://www.youtube.com/watch?v=lloqw7_wWck Six months later, it didn’t work out…