JLL: Construction and availability swing pendulum toward office users
Despite positive total net absorption, total vacancy rose for the fifth consecutive quarter thanks to new deliveries with empty space. Newly built Colorado Center Tower III adds to the market 229,670 square feet, with no signed leases to date, plus One Belleview Station delivered 318,000 s.f., but tenants will not occupy until next quarter. [vc_column…
CREJ
July 7, 2017
Aurora apartments fetch $78 million
Adams County Property Location: 17886 E. Greenwood Drive, Aurora, “Stone Cliff Heights Apts.” Property Description: 394-unit, three-story apartment complex, YOC 2001, 313,950 sf, 21 buildings plus clubhouse, 13 with attached garage parking Land Size: 11.68 acres Sales Price: $78M, or $197,970 per unit Reception No.: D7064607 Grantor: Stone Cliff Fee Owner LLC c/o Benedict Canyon Equities,…
John Winslow
July 7, 2017
Silver Cliff apartments trade for $57.8 million
Arapahoe County Property Location: 5109 S. Delaware St., Englewood Property Description: 312-unit apartment complex, 254,280 sf, YOC 1991 Land Size: 10.83 acres Sales Price: $57.8M, or 5,256 per unit, or 7. (modafinil) 31 per sf Reception No.: D7067313 Grantor: Silver Cliff Apartments, W. Dean Weidner, trustee Grantee: Englewood 312 Owner LLC by: PRG Management, Alex Saunders, mgr.,…
John Winslow
July 6, 2017
Frontier Airlines lands 89,000-square-foot office building near DIA for $14M
Denver County Property Location: 4545 Airport Way, Denver Property Description: 89,021-sf, five-story office building, YOC 2006 Land Size: 12.819 acres Sales Price: $14M, or $157.30 psf Reception No.: 2017073844 Grantor: Prologis, Megan C. Robert, SVP Grantee: Frontier Airlines Inc. Closing Date: 6/1 Financing: Cash Comments: This property was listed by Joe Heath, Andy Ross and Don Misner…
John Winslow
July 5, 2017
Blair works outside the box at Continuum
Donna Blair, the recently appointed chief operating officer of Continuum Partners, has a history with the Denver-based company that developed such high-profile development as Belmar years before she joined the company. “I’ve been dancing with the company for one way or the other for close to 20 years,” said Blair of Continuum, which also is tackling…
Kris Oppermann Stern
July 5, 2017
Developers view Oneida as neighborhood gathering spot
Oneida Park, a 29,615-square foot retail center spanning both sides of Oneida Street between 22nd and 23rd avenues in Denver’s Park Hill neighborhood, will receive a $10 million redevelopment to transform the center into a walkable urban center.
Jolene Wollett
July 4, 2017
Austin investor buys 724 ministorage units in Denver area for $9.6M
Arapahoe & Adams counties Property Location: 443 Laredo St., Aurora; 7273 Kearney/6345 E. 78th Ave., Commerce City, “Best Bargain Storage” Property Description: 323 units & 42,650 sf ministorage, YOC 1984, brick construction, & 401 units & 60,140 sf Land Size: 7.15 acres Sales Price: $9.9M, or $96.06 psf Reception No.: D7062399 (Arapahoe) & 47826 (Adams) Grantor:…
John Winslow
July 4, 2017
Rockmont Remainder: A neglected opportunity in Denver
This the third in the series on Denver’s “Whale Sites,” defined as extremely prominent and underdeveloped land parcels whose size and location will define Denver’s future growth and development. Examples include the Burnham Yard, the former Denver Post Printing Site, Elitch Gardens and the Denver Design District. Future pieces also will look at sites in…
Steve Ferris
July 4, 2017
Amstar launches reinvestment strategy with $37.03M buy
Amstar acquired its first new asset in the United States in a year with the $37.03 million purchase of a Cherry Creek office building. Denver-based Amstar bought the 130,652-square-foot Citadel at 3200 Cherry Creek South Drive from TR Citadel LLC. The building was 85 percent occupied. The acquisition follows a 12-month asset management and disposition…
Kris Oppermann Stern
July 4, 2017
East Colfax motel gains $1.175 million, or 47.92%, in value over last three years
Arapahoe County Property Location: 11800 E. Colfax Ave., Aurora Property Description: 92-unit, four-story walk-up motel building, 29,750 sf, YOC 1962, brick construction Land Size: 1.688 acres Sales Price: $3.62M, or $39,391 per room, or $121.82 psf Reception No.: D7062749 Grantor: Kings Group Inc., Kyeong Hee Kim, pres. Grantee: 11800 E. Colfax LLC, 1575 Galena St., Suite…
John Winslow
July 3, 2017
