Cress Capital buys Union Tower with plans to continue upgrades
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Kris Oppermann Stern
December 31, 2017Granite Place achieves record price per square foot
Granite Place at Village Center set a new high-water mark for southeast suburban office product at a sales price of $423.78 per square foot. Arapahoe County records show Crestone Partners and an institutional partner paid $126.95 million for the newly completed Class AA building, a speculative project that was fully leased prior to delivery. Granite…
Kris Oppermann Stern
December 31, 2017Kaiser makes long-term financial move with Waterpark II & III
Kaiser Permanente’s acquisition of 210,848 square feet of office space in Aurora was driven by cost savings and efficiencies, according to the company’s real estate manager. Kaiser bought Waterpark II and III at 2350 and 2550 S. Parker Road for $25.32 million, according to public records. The health care provider operates in about 60 percent…
Kris Oppermann Stern
December 31, 2017Self-storage company adding 1,700 units in three NoCo projects
A company that develops self-storage facilities in Colorado and Texas is continuing a push into the Northern Colorado market. Grow Your Storage Development LLC recently opened the 541-unit Timberline Self Storage and is starting construction of South College Self Storage, with 708 units, both in Fort Collins. The company also is in the entitlement process…
Kris Oppermann Stern
December 31, 2017Greenwood Village office tower sells to Crestone for $126.9 million
Arapahoe County Address: 5175 S. Willow St., Greenwood Village, “Granite Place at Village Center” Land Size: 5.24 acres Improvements: 10-story, 299,702-sf office building, YOC 2017 Date of Recording: 12/13 Reception No.: D7141073 Price: $126.95M, or $423.59 psf Grantor: GPI-DTC LP, Stephanie Lawrence, slawrence@graniteproperties.com Grantee: Granite Place LLC c/o Crestone Partners LLC, Robert T. “Bob” Flynn…
John Winslow
December 29, 2017Six-tenant retail center snagged by Denver investor for $2 million
Broomfield County Address: 555 U.S. Highway 287, Broomfield, “Park Plaza Commons” Improvements: 12,407-sf, single-story, six-tenant retail building, YOC 1967 Date of Recording: 12/1 Reception No.: 2017014798 Price: $2M, or $161.20 psf Grantor: J&Y Capital Inc., Bokin IM, pres. Grantee: Park Plaza Associates LLC, Eric R. Miller, mgr. Financing: $1.54M payable to Academy Bank, N.A., Kansas…
John Winslow
December 28, 2017Golden office building sells for $3.4M to local investor
Jefferson County Address: 607 19th Street, Golden Land Size: 20,860 sf Improvements: 12,031-sf, two-story office building, YOC 1985 (renovated in 2017) Date of Recording: 11/29 Reception No.: 2017121963 Price: $3.3M, or $274.29 psf Grantor: Golden Investment Property LLC (70%), John Bardeen, mgr., & Endurance 607 19th Street LLC (30%), Otto Petty, mbr. Grantee: DS Real…
John Winslow
December 27, 2017Firm acquires 74,209-sf industrial building in Inverness Business Park for $105 psf
Arapahoe County Address: 24 Inverness Place East, Englewood Land Size: 7.242 acres Improvements: 74,209-sf industrial/flex building, YOC 1980, masonry construction, two exterior loading docks & two drive-in doors Date of Recording: 12/18/17 Reception No: D7142133 Price: $7.79M, or $105 psf Grantor: 24 Inverness/1777 LLC, et. al, Stuart C. Ogilvie, mgr. Grantee: Bonakemi USA Inc., Richard…
John Winslow
December 26, 2017OpenPath Investments purchases Arbors at Sweetgrass
There were double-digit offers for a Fort Collins apartment community that sold to a 1031 exchange buyer for $47 million. Arbors at Sweetgrass drew “a ton” of investor interest from private investors and institutionally backed funds, according to CBRE Executive Vice President David Potarf. OpenPath Investments, a California company focused on “socially responsible” investments, bought…
Kris Oppermann Stern
December 24, 2017California buyer looking to enter market lands 188,077 sf
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Kris Oppermann Stern
December 24, 2017