Majestic sees big demand for small product in Aurora

Majestic Realty Co. went small and saw big demand for a series of new buildings in Aurora. “Our general M.O. around the country and here in Aurora is to build the largest spec building that any given market can sustain, and we’re longterm holders as well,” said Majestic Realty Vice President Michael Kapoor. In the…

Jill Jamieson-Nichols

January 23, 2020

Clarion makes $146.3M investment in downtown Boulder

Clarion Partners landed a three-building office portfolio in downtown Boulder for $146.3 million, or $621.72 per square foot. The deal included two of the largest office buildings downtown, 1050 Walnut and Canyon Center, along with 1900 15th St. The portfolio totals 235,316 sf. “Downtown Boulder is such a unique market. For someone to come in…

Jill Jamieson-Nichols

January 20, 2020

Western Union sells former HQ for $40 million

Western Union sold its former headquarters buildings in Englewood for $40 million. A Reno, Nevada-based group bought the 391,240-square-foot campus in Meridian International Business Center. It consists of two buildings, 192,779 and 198,461 sf, at 12500 and 12510 E. Belford Ave. Connected by a basement-level walkway, the buildings include office and data center space, a…

Jill Jamieson-Nichols

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

DEN site selected for Rocky Mountain Real Estate Challenge

Land Title Guarantee Co. and NAIOP Colorado, the Commercial Real Estate Development Association, selected a portion of a 60-acre parcel owned by Denver International Airport at East 61st Avenue and Peña Boulevard in Denver as the subject for the 18th annual Rocky Mountain Real Estate Challenge to be held Tuesday, April 28. The challenge is…

CREJ

January 17, 2020
thankful

Denver slips in ULI ranking, but remains a top 20 market

Denver’s position slipped in the latest Emerging Trends in Real Estate report, but the city remains in the top 20 markets to watch nationally in 2020. In terms of overall real estate prospects, Denver ranked 17th in the nation, down from No. 8 last year. The lower ranking shouldn’t be concerning because there is less…

Jill Jamieson-Nichols

January 16, 2020

BHP, city create 120 units of permanently affordable housing

Boulder Housing Partners and the city of Boulder have broken ground on a 120-unit permanently affordable housing community – the most significant development of its kind in the city’s history. BHP is the master developer of the project, called 30Pearl. It will be located on 4.6 acres at 2630 30th St. in Boulder Junction, a…

Jill Jamieson-Nichols

January 11, 2020

New retail building at 2534 sells for $4.66 million

A 100%-leased multitenant retail building at 2534 in Johnstown sold to an investor who knows the area well. Gerrard Family Limited Partnership LLLP paid the full asking price of $4.66 million, or $665.71 per square foot, for the 7,000-sf building at 4930 Thompson Parkway. The partnership is managed by Gary Gerrard, one of the original owners and master developers of 2534. Given his familiarity with the development, “We couldn’t have had a better buyer,” said Zander Rodriguez of David Hicks & Lampert Brokerage.

Jill Jamieson-Nichols

January 6, 2020

Brinkman buys newly built SpringHill Suites in Parker

Brinkman has acquired a newly completed hotel in Parker as part of a long-term investment strategy. Brinkman, in partnership with Utah-based developer Colmena Group, purchased the 108-room SpringHill Suites by Marriott at 9355 Silverado Drive. The price was $17.28 million, or $160,000 per key. The 66,641-square-foot building is located off Silverado and North Pine Lane, less than a mile from the intersection of E-470 and Parker Road. The upper-midscale hotel features a breakfast area, 356 sf of meeting space, an indoor pool, fitness center, lobby workstation, market pantry and guest laundry area.

Jill Jamieson-Nichols

January 3, 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