Single-tenant Denver portfolio sells for $6.95 million

A Denver retail portfolio consisting of three Brakes Plus-leased properties sold for a combined $6.95 million in an all-cash transaction. Kathleen Ann Ross Trust, an instate investor, purchased the retail properties at 9297 S. Broadway in Highlands Ranch and 16770 E. Iliff Ave. and 24450 E. Smoky Hill Road in Aurora from seller Chi Chis […]

Jenna Walters

August 7, 2020

Local shared workspace provider opens office in Littleton

Shift Workspaces, a shared workspace provider, opened its third location in Colorado and became operational at the beginning of July. Shift Workspaces’ new 28,000-square-foot building, at 2679 Main St. in Littleton, will offer 117 private offices, 17 private phone booths and six conference rooms, as well as a 3,000-sf outdoor terrace, and 4,500 sf of […]

Jenna Walters

August 7, 2020

Broomfield plans for $95M mixed-use site

A national, full-service real estate firm announced plans to develop a large mixed-use business park in Broomfield. St. John Properties plans to develop Simms Technology Park, a 600,000-square-foot business park near North Simms Street and West 112th Avenue. According to Brandon Jenkins, St. John Properties’ regional partner for Colorado, the firm is in the process […]

Jenna Walters

August 3, 2020

Louisville industrial property sells for $49M

A fully occupied multitenant industrial property in Louisville sold for $49 million. Berkeley Partners purchased the 411,485-square-foot building at 333-335 Centennial Parkway from sellers DPC Cos. and Long Wharf Capital. Tyler Carner, Jeremy Ballenger, Jim Bolt, Jessica Ostermick and Jeremy Kroner with CBRE’s Denver and Boulder offices represented the sellers. The buyer was unrepresented in […]

Jenna Walters

August 3, 2020

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

Swinerton tops out Block 162 spec. building in downtown Denver

Swinerton topped out Block 162, a 606,000-square-foot speculative office building, located at 675 15th St. in downtown Denver. Gensler designed the project. Block 162 is a joint venture led by Patrinely Group and USAA Real Estate.

Kris Oppermann Stern

August 2, 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

Greeley mixed-use property sells, undergoes renovation

A mixed-use property, with office space and multifamily housing, sold for $2.9 million in Greeley. LoHi SC LLC purchased the 33,250-square-foot property at 1020 Ninth St. in Greeley from seller LAM Ministries. The property consists of a three-story mixed-use building and two separate single-family homes, which are currently unlivable. Matthew Revitte of Pro Realty Old […]

Jenna Walters

July 27, 2020

Halt to C-PACE funding is crippling to real estate industry

The recent decision by Douglas County commissioners to opt out of the Commercial Property Assessed Clean Energy Program should put the entire Colorado commercial real estate industry on high alert. The program,

CREJ

July 27, 2020