California trust pays $15.6M for Arapahoe Service Center

Arapahoe Service Center

A 144,283-square-foot flex project in Englewood sold to a Southern California family for $15.6 million, or $108.12 per sf. Arapahoe Service Center is located on 11.11 acres at 6555, 6665 and 6675 S. Kenton St. It was 96 percent occupied at the time of its sale to the Kumar Family Trust, a first-time buyer in…

Jill Jamieson-Nichols

April 19, 2016

Melcor adds Syracuse Hill I to its southeast office portfolio

Syracuse Hill I

A company that recently bought two southeast suburban office assets has added a third building to its holdings in that submarket. Melcor Developments Arizona Inc. purchased Syracuse Hill I from Triton Investments for $10.5 million, or $121 per square foot. The 82,695-sf building is located at 6021 S. Syracuse Way in Greenwood Village. Riki Hashimoto…

Jill Jamieson-Nichols

April 19, 2016

Broker: Apartment vacancy rate could hit 10%

Apartments

Apartment broker Greg Johnson did the math and has come to the conclusion there is a good chance that the Denver-area apartment market vacancy rate could hit 10 percent this year. That would be a 47 percent increase from the 6.8 percent vacancy rate at the end of the fourth quarter, according to the Apartment…

John Rebchook

April 19, 2016

HFF puts on the Ritz with loan

Ritz Carlton

Eric Tupler was putting on the Ritz. Putting a loan on the Ritz-Carlton Denver, that is. Tupler, a senior managing director in HFF’s Denver office, was part of the Holliday Fenoglio Fowler L.P. team that earlier this month arranged a $55.1 million in refinancing for the 202-room Ritz Carlton on a half-acre site at 1881…

John Rebchook

April 19, 2016

Buyer sees big upside with $5.5 million acquisition

Upside was key to the sale of a Colorado Springs office/warehouse/manufacturing building.

Jennifer Hayes

April 18, 2016

Denver industrial market: Is the party winding down?

The party may be winding down for Denver’s industrial market. The vacancy rate for industrial space increased for the first time in six years in the last quarter of 2015, and around 3.5 million square feet of speculative industrial space is being built – a million sf more than was delivered last year. “One-off” players…

Jill Jamieson-Nichols

April 5, 2016

Bowles Crossing in Vestar’s wheelhouse

Bowles Crossing

Long before Vestar recently paid $76.15 million for Bowles Crossing, it had its eye on the open-air retail center in Littleton. “We had our eyes on that center for a couple of years,” said David Malin, a vice president of acquisitions and developments for Phoenix-based Vestar. Why? “No. 1, we are very bullish on the…

John Rebchook

April 5, 2016

ARA handles $75 million in sales

ARA Newmark

Jackson Square Properties, a privately held investment company based in San Francisco-based, recently sold one multifamily community in the Denver area and bought another. “They sold a value-add property and traded up to a newer one,” said Terrance Hunt, who was part of the ARA Newmark team that handled both transactions. Jackson Square owns almost…

John Rebchook

April 5, 2016

Springs retail properties sell to California-based buyers

A California buyer made its first Colorado acquisition with its purchase of a net-leased investment property in Colorado Springs.

Jennifer Hayes

April 2, 2016

CBRE sells Arvada community

Arvada

Arvada increasingly is becoming an attractive target for apartment investors. No sale better reflects that than the recent purchase of the 264-unit Panorama at Arvada Ridge at 5654 Kipling Parkway. Seagate Properties, based in San Rafael, California, purchased the community for $58.5 million, records show. That equates to a sales price of $221,591 per unit…

John Rebchook

March 17, 2016