Several new projects will break ground this quarter, totaling 1.6 million square feet. The trend is expected to continue throughout the year, and demand for large blocks of Class A space continues to grow.[vc_column width="1/3"][vc_column width="1/3"]

The average direct asking rate in the second quarter dipped slightly year over year. Despite the decline, the average direct asking rate remained 33.5 percent higher than its post-recession average, according to CBRE.[vc_column width="1/3"][vc_column width="1/3"][vc_column width="1/3"]

Arapahoe County Property Location: 10901 E. Garden Drive, Aurora, “Viridian at the Gardens Apts.” Property Description: 227-unit, three-story apt. complex, 209,259 sf, YOC 2014 Land Size: 9.43 acres Sales Price: $51M, or $224,670 per unit, or $243.72 psf (rentable area) Reception No.: D7067246 Grantor: Gardens Development Owner c/o Post Investment Group LLC, Los Angeles, CA 90067,…

The construction labor shortage crisis along the Front Range is poised to get worse. Commercial real estate industry officials anticipate needing about 50,000 more qualified people in the trades during the next year. “That’s pretty significant,” said Karla Nugent, chief business development officer at the Weifield Group. Construction workers last year are shown working on…

Denver County Property Location: 3200 Cherry Creek Drive South, Denver, “The Citadel” Property Description: 130,652-sf, seven-story office building, YOC 1987 Land Size: 1.576 acres Sales Price: $37.03M, or $283.39 psf Reception No.: 2017078693 Grantor: TR Citadel LLC by: LPC Realty Advisors I LP, Jenifer Ratcliffe, pres. Grantee: Amstar-Citadel LLC, Jason Lucas, pres., 303-534-6322, 1200 17th St.,…

Adams County Property Location: Northeast corner of Interstate 25 and East 144th Ave., Thornton, “proposed Amazon fulfillment center” Property Description:  Vacant land, plan to build 2.4 million-square-foot facility for Amazon Land Size: 132 acres Sales Price: $22.59M, or $3.93 psf Reception No.: 49846 2017 Grantor: Thornton Investments LLC, Gregory G. Fulton, mgr., 303-694-0862 Grantee: 144 Bull…

Despite positive total net absorption, total vacancy rose for the fifth consecutive quarter thanks to new deliveries with empty space. Newly built Colorado Center Tower III adds to the market 229,670 square feet, with no signed leases to date, plus One Belleview Station delivered 318,000 s.f., but tenants will not occupy until next quarter. [vc_column…

Adams County Property Location: 17886 E. Greenwood Drive, Aurora, “Stone Cliff Heights Apts.” Property Description: 394-unit, three-story apartment complex, YOC 2001, 313,950 sf, 21 buildings plus clubhouse, 13 with attached garage parking Land Size: 11.68 acres Sales Price: $78M, or $197,970 per unit Reception No.: D7064607 Grantor: Stone Cliff Fee Owner LLC c/o Benedict Canyon Equities,…

Fannie Mae’s and Freddie Mac’s combined multifamily mortgage business reached $45 billion for the first five months of 2017, which comes in 14 percent ahead of 2016, according to CBRE Research. May production was almost identical to May 2016. Both agencies anticipate 2017 volume to reach or exceed 2016 numbers, which were $55 to $60…

Arapahoe County Property Location: 5109 S. Delaware St., Englewood Property Description: 312-unit apartment complex, 254,280 sf, YOC 1991 Land Size: 10.83 acres Sales Price: $57.8M, or 5,256 per unit, or 7. (modafinil) 31 per sf Reception No.: D7067313 Grantor: Silver Cliff Apartments, W. Dean Weidner, trustee Grantee: Englewood 312 Owner LLC by: PRG Management, Alex Saunders, mgr.,…