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New single-tenant retail buildings in Thornton sell at 5.8 percent cap rate

Adams County 1. Property Location: 581 W. 84th Ave., Thornton Property Description: 3,044-sf retail building, YOC 2018 Land Size: 19,602 sf Sales Price: $2.48M, or $813.07 psf Reception No.: 4828 2019 Closing Date: 1/18/2019 Grantor: Evergreen-88th& Fox LLC by: Evergreen Devco Grantee: VEB Properties (Virginia E. Bright, mgr.), Le Grand, CA 95333 Financing: $510,000 payable to First Savings Bank,…

John Winslow

January 31, 2019

Plumbing supply company acquires building in Adams County for $1.25 million

Adams County Property Location: 5891 Marion St., Denver Property Description: 12,000-sf warehouse, YOC 1979, metal construction Land Size: 33,106 sf Sales Price: $1.25M, or $104.17 psf Reception No.: 2018000100251 Closing Date: 12-17-18 Grantor: Dubois Denver Property Grantee: 5 Palm Properties LLC (M&N Plumbing Supply), Steve Morgan & Stephen M. Norton, mgrs., principals of M&N Plumbing, 303-308-1325) Financing: $1.11M…

John Winslow

January 30, 2019
The Residence Inn by Marriott Denver City Center

Investors keen on Denver hotels as demand increases with supply

The $92 million sale of a downtown Denver hotel capped off a year of heightened investor interest in the metro area’s hotel market that is expected to continue into this year. The 228-room Residence Inn by Marriott Denver City Center at 1725 Champa St. was among a half-dozen hotels to close in the final weeks…

Jill Jamieson-Nichols

January 24, 2019

Westminster Lodo’s sports bar trades for $2.59M

Adams County Property Location: 3053 W. 104thAve., Westminster, “Lodo’s Bar & Grill Property Description: 8,909-sf restaurant/sports bar, YOC 2007 Land Size: 2 acres Sales Price: $2.59M, or $290.16 psf Reception No.: 2018000103634 Closing Date: 12-17 Grantor: Grove Street Land Company LLC (Christopher Myers, mbr.) Grantee: MCSV 3053 West 104thAvenue LLC (Kenneth Monfort, mgr.) Financing: $18.7 million payable to…

John Winslow

January 24, 2019
Zeppelin

Zeppelin scores development hat trick

“Remind me not to open three major projects in a year that are bigger than anything I’ve ever done before,” Kyle Zeppelin posted on his Facebook page. Zeppelin made the post regarding his development hat trick with only one hour and eight minutes left of the year. Opening three diverse, one-of-kind developments made for a…

John Rebchook

January 23, 2019

Nuveen snags Denver CBD office tower for $110.9 million

Denver County Property Location: 1600 Broadway, Denver Property Description: 444,595-sf, 26-story office building, YOC 1971, LEED Gold certified, Energy Star building with 350 parking spaces in a three-level underground parking garage Land Size: 40,075 sf Sales Price: $110.9M, or $249.44 psf Reception No.: 2019003682 Closing Date: 1-10-19 Grantor: LBA Realty Realty Fund II WBP IV LLC (Steven R.…

John Winslow

January 21, 2019
Country Club Corners

North College retail strip center trades for $2.49 million

The lack of a grocery anchor didn’t dampen investor interest in a 16,923-square-foot retail strip center in Fort Collins. Country Club Corners, a 100 percent-leased center at 1612 N. College Ave., saw “at least 25 to 30 inquiries” due to the smaller size of the deal and the lack of competing product available in Northern…

Jill Jamieson-Nichols

January 21, 2019
The Forum

High-profile Forum office building trades for $14.25 million

A high-profile office building with value-add potential sold to a Colorado investor for $14.25 million, or $81.60 per square foot. HCF Forum LLC bought the Forum, a 174,622-sf building at 14001 E. Iliff Ave. in Aurora, from Forum Three LLC. The seven-story building, visible along Interstate 225, was 76 percent occupied. Marc Lippitt “It’s a…

Jill Jamieson-Nichols

January 20, 2019
Park Technology Center

Benedetti buys Park Technology Center for $19.3 million

This post is only available to subscribers of the the Colorado Real Estate Journal. If you have a subscription, please log in to view this post. If you do not […]

Jill Jamieson-Nichols

January 18, 2019
Kudla

Kudos for Kudla

Peter Kudla is not just a veteran Denver developer. In addition to developing a wide range of projects, Kudla is a raconteur and bon vivant. “Some people know me more for my cooking than for my developments,” Kudla told Rebchook Real Estate Watch  earlier this week. It’s also safe to say that Kudla, 65, the…

John Rebchook

January 18, 2019