Proceed with caution when using condo unit escrow deposits

While residential condominium development still has not reached its pre-Great Recession levels, it is growing (albeit slowly). This type of project presents an interesting source of capital for developers in

CREJ

October 18, 2019

Local group picks up value-add building in Inverness

A local investment group picked up a value-add office building in Inverness Business Park for $6.5 million. I 23 LLC bought the 56,465-square-foot building at 23 Inverness Way East in Englewood for $115.12 per sf. It was just over 65% occupied at the time of the sale. “This investment group is going to reposition the…

Jill Jamieson-Nichols

October 18, 2019

Checkr leases 92,447 sf at 18th Street Atrium

Checkr Inc. signed an 11-year lease for 92,447 square feet of office space at the 18th Street Atrium in Lower Downtown. The San Francisco-based background check company selected Denver for its second headquarters earlier this year and has been operating out of co-working space. The first phase of build-out at the Atrium, located at 1621…

Jill Jamieson-Nichols

October 17, 2019

Boulders achieves record, offers opportunity

The Boulders achieved what appears to be a record price for a 1990s apartment community, giving the buyer a unique opportunity to add value in a high-barrier-to-entry market. Global real estate company Heitman paid $62.5 million for the 161-unit community at 2850 Kalmia Ave. in Boulder. The price per unit, $388,199, is believed to be…

Jill Jamieson-Nichols

October 17, 2019

Broe Real Estate adds to growing medical office portfolio

Broe Real Estate Group is continuing its momentum in the medical office arena with the acquisition of a 41,030-square-foot office building on 4.66 acres in Littleton. Broe plans to repurpose the office building at 1501 W. Mineral Ave. as medical office space to fill a growing need for medical services in Douglas County. Douglas County’s 19.4% growth since 2010 has outpaced every other metro Denver county, creating increased demand for medical services, the company said.

Jill Jamieson-Nichols

October 15, 2019

Occidental Petroleum building in Platteville fetches $32.5 million

A mission-critical operations center in the center of the Denver-Julesburg Basin sold for $32.5 million, or $282 per square foot. Occidental Petroleum Corp., formerly Anadarko Petroleum Corp., occupies the 114,524-square-foot building, which is located at 501 N. Division Blvd. in Platteville. John Jugl, Newmark Knight Frank vice chairman, Western Region Capital Markets, represented the seller,…

Jill Jamieson-Nichols

October 14, 2019

Tritower Financial acquires GHX headquarters in Louisville

A Boston-based real estate investment and management company added to its Boulder County portfolio with the $21.2 million purchase of the GHX World Headquarters in Louisville. Tritower Financial Group bought the 106,877-square-foot building at 1315 W. Century Drive from Lexington Realty Trust for $198.36 per sf. “This is our fourth investment in Boulder and the route 36 corridor. We love the market, and we thought there was a great opportunity to buy this building and help GHX grow in the market, and in the building itself,” said Tod Brainard, Tritower partner and director of acquisitions.

Jill Jamieson-Nichols

October 14, 2019

Conga’s new Broomfield global headquarters invites exploration

Conga, the leader in end-to-end digital document transformation, opened its new global headquarters in Broomfield. Designed by DLR Group, the 88,000-square-foot project was designed to provide up to 650 Conga employees with a state-of-the-art campus that supports accelerated innovation, productivity and company culture.

Kris Oppermann Stern

October 14, 2019

When looking for financing opportunities, go West

The California Mortgage Brokers Association held its 22nd Annual Western States Commercial Real Estate Finance Conference in Las Vegas in early September. The conference focused on the current

CREJ

October 14, 2019

Ent starts work on 330,000-sf HQ facility

Colorado’s largest credit union is set to start construction this month on its new headquarters campus, which could reach more than a half million square feet at build- out. Ent Credit Union will break ground Oct. 23 on its new 330,000-sf, seven-story facility near InterQuest Parkway and Interstate 25 at The Campus at Foothills Farm…

Jennifer Hayes

October 12, 2019