TerraCap Management LLC continues to build its Denver portfolio, acquiring Cherry Creek Plaza I and II for $54.59 million, or $162.93 per square foot. The 335,059-sf office property is the Florida-based company’s third acquisition in just over six months. TerraCap bought Denver Corporate Center II and III for $71.71 million last August, following up with…

The fully leased retail space at the base of a downtown Denver condominium tower sold for $5.25 million. The buyer, a private capital exchange buyer from California, purchased the 9,890-square-foot retail property at Spire at 891 14th St. The space was sought after by investors as not only is there a lack of product –…

As the nation braces to defend against this unprecedented pandemic known as the coronavirus (COVID-19), this is honestly an article topic I never thought I would need to address in my lifetime. Albeit, as in any crisis affecting the design and construction, as well as the commercial real estate industry, AGC of Colorado stands strong to protect our members and continually advocate for our industry as a whole.

An industrial building off of South Santa Fe Drive in Denver traded for the full asking price of $4.14 million in a sale leaseback. PB Enterprises LLC sold the 31,357-square-foot building at 2401 S. Delaware St. and executed a five-year leaseback with two five-year options. Weathersure Systems Inc., a roofing company, occupies the property. There…

A diverse group of investors purchased a multitenant flex/research-and-development building in Broomfield in an $11.2 million transaction. The 65,127-square-foot building at 295 Interlocken Blvd. was 100% occupied by tenants that include environmental consulting firm SWCA Inc., software company Nutrislice Inc. and a variety of other tenants in the technology, food and transportation industries. Silverwood Investments…

A Santa Barbara, California based buyer is making its mark on Colorado Springs with not only its second apartment acquisition in the market but also its second of a prestabilized asset in the city. NALS Apartment Homes, a fully integrated real estate investment firm, purchased the Watermark on Union apartment community, renamed Aliso Briargate, for…

Howell Construction completed Comcast’s occupied, 135,000-square-foot corporate interior renovation, as well as the removal and replacement of the parking lot at its Denver Iliff location. Howell worked with Comcast, JLL and Acquilano to develop a project plan that executed the client’s vision on time and within budget.

A longtime Colorado commercial real estate company is entering the Northern Colorado market with a 200,000-square-foot industrial/flex development at Interstate 25 near Crossroads Boulevard in Loveland. Etkin Johnson Real Estate Partners will develop two speculative Class A buildings at Axis 25, a 14.18-acre site with interstate visibility. The Denver-based company plans to break ground toward…

Denver West’s owners sold a medical office building within the 83-acre office park for $5.7 million, or $150.44 per square foot. Denver West MOB LLC, an affiliate of Texas-based Pinecroft Realty, bought Building 55, a 37,890-sf building at 13772 Denver West Parkway in Lakewood, from a partnership of DPC Cos. and Bridge Investment Group. Chris…

The economy is strong. Unemployment is at a 50-year low. The gross domestic product has continued to grow slowly and is likely to continue to grow. In Colorado, we have one of the top five economies in the country. We continue to see strength in our population and job growth within the state, and because of that, the construction market has been strong over the last several years and it’s likely to continue.