Indoor sports facility, flex space planned next to Smucker’s
A new industrial/flex development anchored by an indoor sports facility is being kicked off across the street from the Smucker’s plant in Longmont. Sandstone Business Complex LLC, a local ownership/development group, has plans to develop an approximately 50,000-square foot indoor sports facility along with four flex buildings on a nearly 7-acre site on Highway 119…
Jill Jamieson-NicholsNovember 22, 2019
Buyer new to Colorado pays $12.5M for Harmony retail
A buyer new to Colorado and planning to expand its presence paid $12.5 million for a Kohl’s-anchored building on the Harmony Road corridor in Fort Collins. Hartland, Wisconsin-based Investors Associated LLP was selected from a pool of buyers to acquire the 115,862-squarefoot building at 813-831 E. Harmony Road. Kohl’s occupies approximately 100,000 sf of the…
Jill Jamieson-NicholsNovember 21, 2019
Schnitzer West plans three-building office development in Centennial
Schnitzer West has announced plans to develop Westray, three 16-story Class A office towers at 6363 Greenwood Plaza Blvd. in Centennial. Westray will be developed in phases, with the first phase of the project to begin in the third quarter of next year. Phase one will consist of approximately 290,000 rentable sf. The building will offer an efficient standard floor plate size of 30,800 sf and a parking ratio of 3:1,000.
Jill Jamieson-NicholsNovember 19, 2019
ASB Real Estate picks up rare industrial portfolio for $72M
ASB Real Estate Investments completed one of the largest industrial property acquisitions in Denver this year with the $72 million purchase of three buildings in the airport submarket. The 633,193-square-foot portfolio included a 406,959-sf distribution building at 22100 E. 26th Ave. in Aurora, leased by Subaru of America; 9410 Heinz Way in Commerce City, a 140,630-sf building leased to Home Depot USA; and an 85,604-sf building that Old West Mattress Co. leases at 18300 E. 28th Ave. in Aurora. The average weighted lease term remaining is 3.1 years.
Jill Jamieson-NicholsNovember 18, 2019
TerraCap expands with Centerpoint I & II
TerraCap Management LLC made its second acquisition in the Denver market with the $77.52 million purchase of Centerpoint I & II at Interstate 25 and Colorado Boulevard. The Florida-based real estate investment management firm bought the Class A office towers from Investcorp and Schnitzer West, which renovated the buildings after acquiring them three years ago.…
Jill Jamieson-NicholsNovember 18, 2019
Ogilvie Properties to add its touch to Stapleton building
Ogilvie Properties will add its personal touch to a Stapleton office building that it acquired for $12.58 million. Ogilvie bought Stapleton Plaza Office Center from Tucson, Arizona-based Holualoa Cos. with plans to update the asset, expand amenities and improve occupancy. The 131,949-square-foot building at 3401 Quebec St. was 74% leased at the time of the…
Jill Jamieson-NicholsNovember 17, 2019
University Center retail building trades
A retail center with Northern Colorado’s only Whole Foods store sold for $23.75 million, which equates to a price of $347.56 per square foot. University Center, located at 2201 S. College Ave., is leased to the natural grocery store and to Wilbur’s Total Beverage, reportedly one of Fort Collins’ top-performing liquor stores on a sales-per-sf…
Jill Jamieson-NicholsNovember 8, 2019
ASB acquires Denver industrial portfolio for $72 million
ASB Real Estate Investments has acquired a three-building, Class A warehouse portfolio totaling 633,193 square feet in Denver’s Airport submarket for $72 million. The investment was made on behalf of ASB’s Allegiance Real Estate Fund, a $7.5 billion core vehicle. A Blackstone affiliate, Link Properties, was the seller. Fully leased to Subaru of America, Home Depot, and Old West Mattress Company respectively, the three buildings include 22100 E. 26th Ave. (406,959 sf) in Aurora, 9410 Heinz Way (140,630 sf) in Commerce City and 18300 E. 28th Ave. (85,604 sf) in Aurora.
Jill Jamieson-NicholsNovember 4, 2019
Building leased to leading player in D-J Basin fetches $32.5 million
A mission-critical operations center leased to the top oil and gas producer in the Denver-Julesburg Basin sold for $32.5 million, or $282 per square foot. Occidental Petroleum Corp., which recently acquired Anadarko Petroleum Corp., occupies the entire two-story, 114,524-square-foot building, located at 501 N. Division Blvd. in Platteville. Occidental has more than a decade remaining on its lease. Platteville Energy Partners I LLC sold the property. The buyer’s name wasn’t disclosed, but Weld County records list it as CIM OFC Platteville CO LLC, which apparently is affiliated with Phoenix-based CIM Group.
Jill Jamieson-NicholsNovember 3, 2019
TerraCap pays $77.5 million for Centerpoint I & II
Investcorp and Schnitzer West announced that TerraCap Management, a privately held investment firm with its headquarters in Estero, Florida, has purchased Centerpoint I & II in Denver for $77.5 million. Centerpoint I & II occupy a combined 3.6 acres at the intersection of Colorado Boulevard and Interstate 25, midway between downtown Denver and the Denver Tech Center. Tenants have access to walkable amenities and light-rail. Centerpoint I is a 168,486-square-foot, 14-story office tower and Centerpoint II is a 205,534-sf, 16-story tower. Schnitzer West and Investcorp purchased the adjacent Class-A towers in 2016.
Jill Jamieson-NicholsOctober 31, 2019