Brookfield fund buys Denver City Center

Shorenstein Properties LLC has sold Denver City Center in downtown Denver to an institutional investor for $400 million in one of the largest single-asset sales in Denver history. A fund managed by Brookfield Properties was the buyer. Denver City Center consists of adjacent 42- and 29-story office buildings at 707 and 717 17th St. It…

Jill Jamieson-Nichols

February 3, 2020

LaSalle buys newly completed Parc Santa Fe for $58 million

A real estate investment management firm bought the newly completed Parc Santa Fe industrial development in Highlands Ranch. Developers Jackson-Shaw and LaPour Partners sold the three-building, 345,126-square-foot project to Chicago-based LaSalle Investment Management. The price wasn’t released, but public records show it was $58 million, or $168.05 per sf. Located south of C-470 and South…

Jill Jamieson-Nichols

February 2, 2020

User buys office/flex building off Harmony for $6.49 million

A Northern Colorado concrete company recently cemented the acquisition of an office/flex building off the East Harmony Road corridor in Fort Collins. Peak Cos., which was occupying the 37,993-square-foot building at 4862 Innovation Drive on a short-term lease, purchased the property for $6.49 million, or $170 per sf. Oakridge Innovation LLC was the seller. Josh…

Jill Jamieson-Nichols

February 2, 2020

Nevada group picks up Western Union’s former global headquarters

Western Union sold its former global headquarters buildings in Englewood for $40 million. A Reno, Nevada-based group bought the 391,240-square-foot campus in Meridian International Business Center through an entity called Meridian Office Partners LLC. The campus consists of two buildings, 192,779 and 198,461 sf, at 12500 and 12510 E. Belford Ave. Connected by a basement-level…

Jill Jamieson-Nichols

February 2, 2020

Market newcomer snags value-add office deal

A value-add office asset in Uptown Denver drew tremendous activity from investors, ultimately selling to a market newcomer for $25.75 million. ROF IV Grant LLC, managed by Los Angeles-based Regent Properties, bought 1900 Grant from SteelWave. The 136,118-square-foot building was about 45% occupied, providing an opportunity to add value through continued improvements and lease-up. Listing…

Jill Jamieson-Nichols

January 27, 2020

Majestic sees big demand for small product in Aurora

Majestic Realty Co. went small and saw big demand for a series of new buildings in Aurora. “Our general M.O. around the country and here in Aurora is to build the largest spec building that any given market can sustain, and we’re longterm holders as well,” said Majestic Realty Vice President Michael Kapoor. In the…

Jill Jamieson-Nichols

January 23, 2020

Clarion makes $146.3M investment in downtown Boulder

Clarion Partners landed a three-building office portfolio in downtown Boulder for $146.3 million, or $621.72 per square foot. The deal included two of the largest office buildings downtown, 1050 Walnut and Canyon Center, along with 1900 15th St. The portfolio totals 235,316 sf. “Downtown Boulder is such a unique market. For someone to come in…

Jill Jamieson-Nichols

January 20, 2020

Amazon, Costco boost industrial footprints

Two big retailers are expanding their footprints in the Denver industrial market with distribution facilities that could reach more than a half-million square feet each. Amazon leased the first speculative building at First Aurora Commerce Center in Aurora, and Costco is starting construction of a new “depot” in the Porteos development near Denver International Airport.…

Jill Jamieson-Nichols

January 17, 2020

DEN site selected for Rocky Mountain Real Estate Challenge

Land Title Guarantee Co. and NAIOP Colorado, the Commercial Real Estate Development Association, selected a portion of a 60-acre parcel owned by Denver International Airport at East 61st Avenue and Peña Boulevard in Denver as the subject for the 18th annual Rocky Mountain Real Estate Challenge to be held Tuesday, April 28. The challenge is…

CREJ

January 17, 2020
thankful

Denver slips in ULI ranking, but remains a top 20 market

Denver’s position slipped in the latest Emerging Trends in Real Estate report, but the city remains in the top 20 markets to watch nationally in 2020. In terms of overall real estate prospects, Denver ranked 17th in the nation, down from No. 8 last year. The lower ranking shouldn’t be concerning because there is less…

Jill Jamieson-Nichols

January 16, 2020