Seller executes 1031 exchange from townhomes to retail center

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Adams County

Downleg of 1031 exchange – Sale of 30 townhomes at E. 121stAve. & Colorado Blvd., Thornton

Property Location: 3783-3799, 3811-21-23-25-33-35-37-39-41-45-69-3875 E. 121stAve., Thornton

Property Description: 30 two-story townhomes ranging from 1,068 to 1,319 sf, YOC 1985-2001, wood frame construction, 12 with single-car garages, all with basements ranging from 399 to 640 sf, total 34,286 sf

Land Size: 39,030 sf

Sales Price: $7.04M, or $234,667 per unit, or $205.33 psf

Reception No.: 2018000065312

Closing Date: 8/10

Grantor: MAC Management LLC (Alex Chlebek & Maria Biernat, mgrs.)

Grantee: Silverlake Investments LLC (Ruben Rios-Blanco, mgr.)

Comments: The buyer facilitated a 1031 exchange for 30 townhomes ranging from 1,068 to 1,244 sf with a total of 34,286 sf & 15,449 sf of basement area. Twelve of the units had single attached garages of 280 sf. Six of the units ranged from 1,240 to 1,285 sf; 12 of the units ranged from 1,132 to 1,139 sf; 10 units ranged from 1,009 to 1,086 sf; one unit is 1,319 sf.

Upleg of 1031 exchange – 76,353-sf retail center in Northglenn

Property Location: 10615-10647-10669-10689 Melody Drive & 555 E. 106thAve., Northglenn, “Northglenn Square”

Property Description: 76,353-sf retail center, (3 buildings), YOC 1970-1976

Land Size: 6.36 acres

Sales Price: $7.55M

Reception No.: 2018000067948

Closing Date: 8/21

Grantor: Northglenn Shopping Center LLC

Grantee: MAC Management LLC (Alex Chlebek & Maria Biernat, mgrs.)

Financing: $4.5M payable to Elevations Credit Union

Comments: Space was listed for lease @ $12-$14 psf by Bob Bramble & Charles Nusbaum of Antonoff & Company Brokerage, 303-623-0200. This property is anchored by 9,000-square-foot Dollar Tree plus other tenants including Big D’s Liquors, Melody Day Spa, Old Wagon Antique Mall, Pearle Vision, Child Development Center, Your Art Department & Saigon Basil Restaurant. There is 8,432 sf vacant, reflecting an 87.5% occupancy rate. See APN: 1719-103-04-005 – 10615 Melody Drive – 21,623-sf retail building, YOC 1970 on 2.03 acres; 1719-103-04-007 – 10669 Melody Drive – 45,730-sf retail center, YOC 1976, on 3.01 acres; 1719-103-04-006 – 9,000-sf retail building, YOC 1972, on 36,590 sf of land; & 20,893 sf pad site, APN: 1719-103-04-004, or 555 W. 106thAve., located at northwest corner of Melody Drive & E. 106thAve.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.

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