Plumbing supply principals acquire North Denver warehouse
Adams County Property Location: 1325 E. 58th Ave., Denver Property Description: 40,500-sf warehouse, YOC 1974, masonry Land Size: 2.01 acres Sales Price: $3.61M, or $89.14 psf Reception No.: 31909-2017 Grantor: Blue River Venture LLC, James & Jacob Robertson, mgrs. Grantee: 5 Palms Properties LLC 5, Steve Morgan & Steve Norton, mbrs. 303-308-1325, Denver 80216 Closing Date: 4/11 Financing:…
John Winslow
May 4, 2017Paid parking no ploy to redevelop Cherry Creek Shopping Center
Ever since I broke the story last July that the Cherry Creek Shopping Center would begin charging for parking in 2017, shoppers and many tenants in Denver’s premier mall have been, shall we say, upset. Last month, an ipetitions.com site was launched to try to convince Cherry Creek to once again provide free parking, as…
Kris Oppermann Stern
May 4, 2017Alexan City Center in Englewood fetches $97 million
Arapahoe County Property Location: 801/901 Englewood Pkwy., Englewood, “Alexan City Center” Property Description: 226-unit apartment complex, six buildings plus 3,325 sf-clubhouse, 201,036 sf, YOC 2001, brick veneer; 212-unit apartment complex, five buildings, 186,903 sf, YOC 2002, brick, & four-story 115,112-sf parking garage Land Size: 10.521 acres Sales Price: $97M, or $221,461 per unit, or $240.43 psf Reception…
John Winslow
May 3, 2017South Denver warehouse sells to owner-user for $127 per square foot
Denver County Property Location: 1385 S. Inca St., Denver Property Description: 11,035-sf warehouse, YOC 1961, brick, 5 drive-in doors Land Size: 28,566 sf Sales Price: $1.4M, or $126.87 psf Reception No.: 2017037895 Grantor: Svedin & Lewis Invest LLC, Peter Svedin & Jason Lewis, mgrs. Grantee: GHI LLC, Dave Gartland & David Ipson, mbrs., 303-892-1973, c/o Boa Construction Inc.,…
John Winslow
May 2, 20171031 exchanges may be axed by Trump’s tax plan
Riki Hashimoto’s phone was ringing off the hook late last week. Anxious investors had one question for the commercial real estate broker after President Donald Trump released his still skeletal outline for tax reform last Wednesday: “Are 1031 exchanges going away?” While a lot of media ink was devoted to things like the proposed 15…
Kris Oppermann Stern
May 1, 2017Water St. and the aquarium: Isolated yet connected ‘Whale Site’
Steve Ferris, Founder and principal, Real Estate Garage, Denver This the second in a 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, Broadway Station Area, RiNo Station…
Steve Ferris
May 1, 2017Industrial building sells in $8.9 million leaseback
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Kris Oppermann Stern
May 1, 2017CBRE: Nearly half of new office space is preleased
It used to be that tenants wanted to see an office building before they signed a lease, but that appears to be changing. Almost half, 47.3 percent, of the 5 million square feet of office space being developed in Denver as of the first quarter is preleased, according to CBRE Research. Most of the space,…
Kris Oppermann Stern
May 1, 2017Construction starts on ‘synergistic’ Superior Medical office building
Sawtooth Development Group broke ground April 4 on Superior Medical, a four-story, 60,000-square-foot multitenant medical office building at Three Superior Drive in the Superior Town Center in Superior.
Jolene Wollett
May 1, 2017Boulder’s 17*Walnut draws top dollar
You’d have to head to the coast to find an apartment community to trade at the kind of price an investor just paid for a boutique property in Boulder. Rivendell Global Real Estate bought 17*Walnut, a 26-unit community in Boulder’s East End, for $600,000 per unit. That’s the highest price ever paid for a conventional…
Kris Oppermann Stern
May 1, 2017