TerraCap buys Cherry Creek Plaza at $54.5 million

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…

Jill Jamieson-Nichols

March 29, 2020

Spire retail sells for $5.25 million

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 –…

Jennifer Hayes

March 22, 2020

AGC of Colorado: Construction is an essential service amidst COVID-19 pandemic

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.

CREJ

March 22, 2020

Denver industrial building trades in $4.14M sale-leaseback

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…

Jill Jamieson-Nichols

March 22, 2020

Interlocken office building changes hands

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…

Jill Jamieson-Nichols

March 20, 2020

Watermark on Union trades at record price

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…

Jennifer Hayes

March 16, 2020

Howell Construction completes Comcast’s corporate office renovation in Denver

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.

Kris Oppermann Stern

March 15, 2020

Etkin Johnson enters NoCo industrial market

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…

Jill Jamieson-Nichols

March 15, 2020

Medical office building in Denver West trades for $5.7M

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…

Jill Jamieson-Nichols

March 15, 2020

2020 forecast: A look into the future of the Denver area construction market

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.

CREJ

March 9, 2020