Legend Investment Group handles metro area transactions

Legend Investment Group, a division of Legend Partners LLP, recently handled the sale of a pair of metro area multitenant retail strip centers as well as a Broomfield Big O Tires in deals topping $8 million. Pert Maxima purchased the three-tenant strip centers in separate deals, concluding a 1031 exchange. The 6,029-square-foot center at 9854…

Jennifer Hayes

January 19, 2020

Amazon, Costco boost industrial footprints

Two big retailers are expanding their footprints in the Denver industrial market with distribution facilities that could reach more than a half-million square feet each. Amazon leased the first speculative building at First Aurora Commerce Center in Aurora, and Costco is starting construction of a new “depot” in the Porteos development near Denver International Airport.…

Jill Jamieson-Nichols

January 17, 2020

Kneaders Bakery and Café sells at 5.12% cap rate

A single-tenant, net-leased Kneaders Bakery and Café in Colorado Springs recently sold. The Kneaders Bakery and Café at 13482 Bass Pro Drive sold for $2.93 million and at a 5.12% cap rate, representing one of the lowest cap rates ever for a single-tenant Kneaders Bakery and Café nationally, according to CoStar. A Colorado-based 1031 exchange…

Jennifer Hayes

January 13, 2020

Berkadia arranges loan for self-storage facility purchase

Berkadia arranged financing on behalf of a private investment firm based in Las Vegas for its acquisition of two self-storage facilities, including the AAA Platte Self Storage in Colorado Springs. Senior Managing Director Cutt Ableson and Associate Director Johnny King of Berkadia’s Houston office secured the loans for Crystal View Capital. MidCap Financial Services provided…

Jennifer Hayes

January 6, 2020

Large health care REIT buys medical buildings at Lowry

A pair of World War II-era buildings that have evolved to meet demand for medical services at Lowry sold to the country’s biggest dedicated owner and operator of medical office space. Healthcare Trust of America paid $18.85 million for Rampart Medical Campus at 125 and 130 Rampart Way in Denver. The three-story buildings comprise 69,280…

Jill Jamieson-Nichols

January 1, 2020

Westgate project adds Candlewood Suites

Candlewood Suites is coming to Westgate. Utah-based hospitality firm Western States Lodging and Nuterra Partners, a Utah-based development and management company, are under contract on a 1.86-acre parcel in the 58.71-acre Westgate at Powers mixed-used project in southeast Colorado Springs. The partnership is planning to construct a 104-key Candlewood Suites at the development, located at…

Jennifer Hayes

December 30, 2019

Broe Group looks to redevelop prime Cherry Creek real estate

A prime piece of Cherry Creek North real estate is being targeted for new office development. Broe Real Estate Group is proposing an eight-story, 75,000-square-foot office building with ground-floor retail in the first phase of a redevelopment of 200, 210 and 216 Clayton St. A second phase could bring an additional 125,000 sf of office…

Jill Jamieson-Nichols

December 29, 2019

Tenzing trades for $96.6 million to CBRE-sponsored fund

A newly built Westminster multifamily community recently sold for $96.6 million, according to public records. A fund sponsored by CBRE Global Investors acquired The Tenzing, a 320-unit community at 11674 N. Pecos St., from a joint venture between Holland Partner Group and Principal Real Estate Investors. The acquisition of The Tenzing, built in 2018, is…

Jennifer Hayes

December 22, 2019

Florida buyer adds Tuscany Village Center to portfolio

America’s Capital Partners purchased Tuscany Village Center, a standout office building next to Fiddlers Green Amphitheatre, for $64.85 million. The Florida-based company bought the 257,875-square-foot Class A building at 6312 Fiddlers Green Circle in Greenwood Village from Crescent Real Estate LLC. The price equals $251.48 per sf. Tuscany Village Center is located in the Fiddler’s…

Jill Jamieson-Nichols

December 16, 2019

Berkeley Partners sells Moncrieff Business Center for $9.9M

Berkeley Partners sold a 101,406-square-foot industrial building that was part of a portfolio it acquired early this year after working with CBRE to bring the building to 100% occupancy. Moncrieff Business Center, located at 14603 E. Moncrieff Place in Aurora, sold to an investor advised by Zurich Alternative Asset Management for $9.9 million, or $97.63…

Jill Jamieson-Nichols

December 16, 2019