Tech key to CREJ property management event

property management

Drones, digital touch screens, virtual and augmented reality, and innovative software packages are some of the tools that cutting-edge property managers are using. Indeed, Technologies and Tools is the name of one of the panels at an upcoming property management conference. “It’s a pretty cool panel,” said Zvi Rudawsky, managing member at Wheelhouse Commercial, which…

John Rebchook

February 4, 2019

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

Investors keen on Denver hotels as demand increases with supply

The Residence Inn by Marriott Denver City Center

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 scores development hat trick

Zeppelin

“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

North College retail strip center trades for $2.49 million

Country Club Corners

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

High-profile Forum office building trades for $14.25 million

The Forum

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

Benedetti buys Park Technology Center for $19.3 million

Park Technology Center

A California buyer that entered the Denver industrial market a year ago has acquired Park Technology Center in Westminster for $19.3 million, according to public records. An affiliate of Irvine-based The Benedetti Co. paid $132.46 per square foot for the 145,700-sf park at 960-1130 W. 124thAve. The property consists of four buildings ranging from about…

Jill Jamieson-Nichols

January 18, 2019