Gelt enters Denver market

In April 2014, California-based TruAmerica made its first apartment community acquisition in Denver by paying $55 million for the 564-unit Tamarac apartment community. Recently, TruAmerica sold the community on a 25.16-acre site at 3300 S. Tamarac Drive to another California company, Gelt Inc., for $74 million. It also was Gelt’s first purchase in Denver. The…

John Rebchook

December 13, 2015

Embassy Suites sets record price per key

CWI 2 acquired the Embassy Suites Denver - Downtown/Convention Center hotel, an institutional-quality, full-service property with 403 suites situated in one of the top five U.S. lodging markets by RevPAR growth. (PRNewsFoto/Carey Watermark Investors 2) The Embassy Suites by Hilton hotel across from the Colorado Convention Center eclipsed Denver’s previous record price per key with…

Jill Jamieson-Nichols

November 30, 2015

RMI sale-leaseback nets $13 million

A sale-leaseback with a Chicago buyer netted Rocky Mountain Instrument $13 million for its 89,360-square-foot headquarters facility on 8.7 acres in Lafayette. Zaragon Inc., a real estate investment and management company, purchased the property at 106 Laser Drive. RMI signed a 20-year lease with the new owner. The property includes excess land, which Zaragon is…

Jill Jamieson-Nichols

November 30, 2015

Boulder to see first net-zero development

A 100,000-square-foot office/retail development in Boulder will break ground in more ways than one. “We’re the first net-zero project in Boulder and one of the first in the country that I know of that hasn’t been built by either the government or a foundation,” said Andrew Bush of Morgan Creek Ventures in Boulder. A joint…

Jill Jamieson-Nichols

November 30, 2015

Cherry Creek North hot

Cherry Creek North is firing on all cylinders. Businesses in Cherry Creek North generated about $10 million in retail sales tax revenue for the City and County of Denver last year, which is believed to be a record. And Cherry Creek North is only getting started as far as revving its economic generation engine. “I…

John Rebchook

November 28, 2015
Union Station

Trends in action: Union Station wing buildings

The Union Station wing office buildings – often referred to as One Union Station and the IMA Building – exemplify many of the trends the Denver office property market is witnessing. A large part of both buildings’ success – each sold for over $600 per square foot to GLL Real Estate Partners, a German-based international asset…

Michelle Askeland

October 29, 2015

Granite to build 300,000-sf spec office building

Granite Properties will change the Greenwood Village skyline with a 10-story speculative office building that will bring high-quality space to the southeast suburban submarket. “As owners of Plaza Tower One, and we see firsthand the demand for Class A office space, and the shortage of high-quality space in the market,” said Stephanie Lawrence, Granite Properties…

Jill Jamieson-Nichols

October 5, 2015

Niederman, Hutto to develop One DTC West

A 75,500-square-foot Class AA office building will be developed on the bustling East Belleview Avenue corridor in Denver Tech Center West. Kentwood Real Estate CEO Peter Niederman and Frank Hutto, a Denver energy industry executive, will develop One DTC West, an approximately $24 million project, at the northwest corner of East Belleview Avenue and South…

Jill Jamieson-Nichols

September 14, 2015

Owner hands over reins to Elephant Corral

After 24 years of ownership, Elcor Partners Ltd. has decided to let someone else take the reins of an important piece of Denver’s history. “It was time,” Bill Saslow of Elcor Partners said of the Elephant Corral, an office property Stoltz Real Estate Partners bought for $17 million. “There’s been so much interest in properties…

Jill Jamieson-Nichols

February 16, 2015

Dr. Asher buys apartment community

Dr. W.L. Asher runs a weight loss clinic in Littleton. But through his Asher Investments, he also has been an avid investor in apartments in the Denver metro area since the 1970s. Late last year, Asher Investments purchased the 297-unit Alta Harvest Station from its developer, Wood Partners, for just under $64.5 million. The sale…

John Rebchook

January 18, 2015