Hirschfeld, Nichols selected for Sakura Square
Sakura Square LLC and Tri-State/Denver Buddhist Temple have chosen the Nichols Partnership/Barry Hirschfeld Jr. team as their preferred developer for the redevelopment of Sakura Square and the temple in downtown Denver. Sakura Square covers one square block bordered by Larimer, Lawrence, 19th and 20th streets. “We are excited to enter into this next phase of…
CREJ
June 20, 2017Westlake Retail Center sells on in-place cap rate of 12.05 percent
Broomfield County Property Location: 12920 Lowell Blvd., Broomfield Property Description: 11,288-sf retail building, YOC 1987, masonry Land Size: 1.57 acres Sales Price: $2M, or $177.18 psf Grantor: INSAF LLC, Fadi Sawaged, mgr. Grantee: JNT LLC, Jaeyoung Nam, mgr., 1702 8th Ave., Greeley 80631 Closing Date: 5/31 Financing: $1.35M payable to Westlake Payment LLC @ 8% (OWC) Comments: Listed…
John Winslow
June 20, 2017Denver’s Zoning: Are We More Divided than Ever?
I sat on the Denver Planning Board in the 1990s and watched the beginning of today’s debates about growth. When we developed Blueprint Denver, the ideas about stability and change emerged through community dialogue.
Building Dialogue
June 19, 2017Spaces nabs last spot in newest office building at Arista
Spaces is bringing co-working space to the U.S. Highway 36 corridor, taking the last block of office space in Arista’s newest speculative building. Spaces leased approximately 30,000 square feet on the first, second and fifth floors at 8181 Arista Place in Broomfield. It will have a small, highly visible presence on the first floor, which…
Kris Oppermann Stern
June 19, 2017Commerce City warehouse snagged by owner-user for $87.50 per square foot
Adams County Property Location: 3900 E 68th Ave., Commerce City Property Description: 50,000-sf warehouse, includes 6,500-sf office area, YOC 1980, 27’ clear, twin-tee construction Land Size: 3.45 acres Sales Price: $4.38M, or $87.50 psf Reception No.: 43778 2017 Grantor: K.W. Schmidt & Associates LLC, Karl W. Schmidt, mgr. Grantee: Tebeest Properties LLC, Chad Tebeest, mbr., 9681 W…
John Winslow
June 19, 2017Amstar buys The Citadel office building
Denver-based Amstar has acquired The Citadel, a 131,000-square-foot office building in the Cherry Creek submarket. This acquisition marks Amstar’s first new investment in the U.S. after a focused asset management and disposition effort of its existing portfolio over the past 12 months. Amstar is familiar with the Denver market, having developed several residential properties throughout…
CREJ
June 16, 2017Retail center in Castle Rock Promenade sells for $7 million
Douglas County Property Location: 4991 Factory Shops Blvd., Castle Rock Property Description: 11,368-sf retail center, YOC 2016 Land Size: 1.44 acres Sales Price: $7M, or $615.76 psf Reception No.: 2017033617 Grantor: White Fir LLC by: Alberta Development, Donald Provost, mgr. Grantee: 4991 Factory Shops Blvd., LLC Closing Date: 5/19 Financing: $6.16M payable to Umpqua Bank (85% LTV) Comments:…
John Winslow
June 16, 2017CBRE: Denver leads nation in industrial preleasing
Almost half of the 167 million square feet of U.S warehouse space currently under construction—72 million square feet—is already precommitted to tenants, primarily e-commerce, third-party logistics and retail users, according to a new report from CBRE Group Inc. At 3.2 million square feet, Denver is ranked 10th in the nation for warehouse space under construction.…
CREJ
June 15, 2017Crossroads industrial building sells for $7.25M, or $104.52 per square foot
Adams County Property Location: 485 E. 52nd Ave., Denver Property Description: 69,350-sf warehouse, YOC 2016 Land Size: 4.5 acres Sales Price: $7.25M, or $104.52 psf Reception No.: 45058 2017 Grantor: TC Crossroads #6 LLC c/o Trammell Crow Company, Bill Mosher, CEO Grantee: Denver Cross LP, Largent Group Inc., Scott Bader, pres., Sylmar, CA Closing Date: 5/25 Financing: $6.16M…
John Winslow
June 15, 2017Sentinel Real Estate Corp. acquires 285 units in Parker for $70.9 million
Douglas County Property Location: 17565 Pine Lane, Parker, “Enclave at Cherry Creek” Property Description: 285-unit, four-story apartment complex (five buildings of 57 units each), 368,465 sf gross building area, plus 6,706-sf clubhouse, with attached garage parking with each building, YOC 2015 Land Size: Sales Price: $70.93M, or $248,870 per unit, or $192.50 psf Reception No.: 2017033207 Grantor:…
John Winslow
June 14, 2017